Lake Goodwin cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexLake GoodwinWashingtonNational
Cost of living index123112100
IndexLake GoodwinWashingtonNational
Goods & Services index106104100
Groceries index105102100
Health care index124116100
Housing index162135100
Transportation index115108100
Utilities index8983100
Here we can see a simple outline of the cost of living in Lake Goodwin, WA. As you can see, with the average cost of living in Lake Goodwin, WA being 123, that puts it 10% higher than the average of Washington and 23% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Lake Goodwin, WA, the price of goods and services are 2% higher than the average of Washington as well as 6% higher than the nation's average.

Did you know?

  • The cost of living in Lake Goodwin is 10% higher than the Washington average.
  • The cost of living in Lake Goodwin is 23% higher than the national average.
  • The cost of housing in Lake Goodwin is 62% higher than the national average.
  • Washington general sales tax is 28% higher than the national average.
  • Washington state income tax is 100% lower than the national average.

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Compare Lake Goodwin, WA Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator allows you to compare how much your current salary in Lake Goodwin, WA would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Lake Goodwin, WA, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Lake Goodwin, WA salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$84,931$7,078$1,982$2,548
Renters$52,679$4,390$1,229$1,581
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Lake Goodwin, WA, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Lake Goodwin, WA has a median income of about $84,931 for people who own homes. Based on that number, a person should spend a maximum of $1,982 on expenses related to housing. Renters have a slightly different median income, which is $52,679. Based on this average, renters should spend no more than $1,229 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Washington Sales Tax

StateGeneral Sales TaxWith Max Surtax
Washington6.5%9.6%

Washington Income Tax

StateIncome Tax (Low)Income Tax (High)
Washington0%0%
When considering the overall cost of living expenses in Lake Goodwin, WA, it's important to take into account the sales tax for Washington, as well as the rate for income tax in Washington. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Washington is 9.6%, and the sales tax in the state of Washington is 6.5%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Washington starts from 0% and goes up to 0%.

Goods & Services

ItemLake GoodwinNational avg.Difference
Haircut $17.29$14.5918.5%
Beauty Salon $45.25$34.6830.5%
Toothpaste $2.55$2.473.1%
Shampoo $1.17$1.0214.5%
Movie $11.47$9.8716.2%
Bowling $3.62$4.3917.6%

Groceries

ItemLake GoodwinNational avg.Difference
Ground Beef $4.63$4.483.4%
Fried Chicken $1.59$1.468.6%
Milk $1.94$2.3617.7%
Potatoes $2.49$3.0618.7%
Pizza $10.00$9.248.2%
Beer $9.05$8.634.8%

Health Care

ItemLake GoodwinNational avg.Difference
Optometrist $148.13$99.7848.5%
Doctor $148.90$105.0341.8%
Dentist $111.60$88.7025.8%
Ibuprofen $10.39$9.4110.4%
Lipitor $301.93$298.501.1%

Housing

ItemLake GoodwinNational avg.Difference
Home Price $301,800.00$175,700.0071.8%
Avg. Mortgage Payment $1,307.24$1,081.0320.9%
Apartment Rent $1,293.00$920.0040.5%

Transportation

ItemLake GoodwinNational avg.Difference
Gasoline $2.43$2.0916.3%
Tire Balancing $50.00$45.2910.4%

Utilities

ItemLake GoodwinNational avg.Difference
All Electricity$129.79$170.8024.0%
Phone $29.99$28.266.1%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Conway, WA121077%
Northwest Stanwood, WA211077%
Hat Island, WA181066%
Silvana, WA1521088%
Granite Falls, WA3,4161099%
Lake Goodwin, WA3,62112323%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
High Bridge, NJ3,62112222%
Hesston, KS3,62188-12%
Nellis AFB, NV3,62095-5%
Harrisburg, OR3,61811010%
Richwood, TX3,61886-14%
Lake Goodwin, WA3,62112323%
Source: The Lake Goodwin, WA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.