Liberty Lake 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.
IndexLiberty LakeWashingtonNational
Cost of living index112115100
IndexLiberty LakeWashingtonNational
Goods & Services index101106100
Groceries index95107100
Health care index116119100
Housing index138135100
Transportation index113117100
Utilities index9096100
Here we can see a simple outline of the cost of living in Liberty Lake, WA. As you can see, with the average cost of living in Liberty Lake, WA being 112, that puts it 3% lower than the average of Washington and 12% 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 Liberty Lake, WA, the price of goods and services are 5% lower than the average of Washington as well as 1% higher than the nation's average.

Did you know?

  • The cost of living in Liberty Lake is 3% lower than the Washington average.
  • The cost of living in Liberty Lake is 12% higher than the national average.
  • The cost of housing in Liberty Lake is 38% 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 Liberty Lake, 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 is used in order to provide a comparison of your current salary in Liberty Lake, WA to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Liberty Lake, WA, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Liberty Lake, WA salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$94,704$7,892$2,210$2,841
Renters$37,012$3,084$864$1,110
The affordability of the housing market in Liberty Lake, WA as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Liberty Lake, WA homeowners, the median income is $94,704. This indicates that a monthly maximum of $2,210 should be spent by homeowners on all housing related costs. Renters have a median income of $37,012. This indicates that renters should have a maximum of $864 used for their rent related monthly costs.

Washington Sales Tax

StateGeneral Sales TaxWith Max Surtax
Washington6.5%9.6%

Washington Income Tax

StateIncome Tax (Low)Income Tax (High)
Washington0%0%
When assessing the complete cost of living in Liberty Lake, WA, the Washington income tax and the Washington sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Washington maximum surtax is 9.6%, and the Washington sales tax is 6.5%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0% to 0% in Washington.

Goods & Services

ItemLiberty LakeNational avg.Difference
Haircut $17.02$15.569.3%
Beauty Salon $35.70$36.111.1%
Toothpaste $2.92$2.4718.3%
Shampoo $1.03$0.966.4%
Movie $10.59$10.134.6%
Bowling $8.59$4.7481.3%

Groceries

ItemLiberty LakeNational avg.Difference
Ground Beef $3.89$3.982.4%
Fried Chicken $1.33$1.415.5%
Milk $2.21$2.067.0%
Potatoes $1.79$2.9839.8%
Pizza $9.05$9.474.4%
Beer $10.10$8.7914.8%

Health Care

ItemLiberty LakeNational avg.Difference
Optometrist $121.00$101.0419.8%
Doctor $140.50$107.4430.8%
Dentist $99.61$90.4210.2%
Ibuprofen $11.17$9.2820.4%
Lipitor $444.66$426.504.3%

Housing

ItemLiberty LakeNational avg.Difference
Home Price $271,000.00$175,700.0054.2%
Avg. Mortgage Payment $1,082.23$1,133.234.5%
Apartment Rent $931.00$920.001.2%

Transportation

ItemLiberty LakeNational avg.Difference
Gasoline $2.40$1.9920.2%
Tire Balancing $44.37$45.763.0%

Utilities

ItemLiberty LakeNational avg.Difference
All Electricity$136.37$163.8116.8%
Phone $28.32$28.390.2%
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.
State Line, ID221011%
Hauser, ID67987-13%
Huetter, ID8287-13%
Rockford, WA45696-4%
Harrison, ID21198-2%
Liberty Lake, WA8,02711212%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Murrells Inlet, SC8,02711212%
Wellington, KS8,02885-15%
Lantana, TX8,02512929%
Caribou, ME8,02593-7%
Summit, WA8,02511616%
Liberty Lake, WA8,02711212%
Source: The Liberty Lake, WA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.