An Overview of Cost of Living in Mill Creek East, WA
Are you thinking about relocating, but curious about the potential cost of living in Mill Creek East? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Mill Creek East stands at 168, making it 68% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Mill Creek East is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Mill Creek East falls into this category, which may not align with your goal of finding a budget-friendly living environment.
When it comes to the cost of living in Mill Creek East, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 193.8% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
The things you purchase regularly, like clothes, haircuts, movie tickets and gym memberships, can make a big dent in your budget and make up 33% of the cost of living index. Unfortunately in Mill Creek East, these items will cost you 18.7% more than what's considered the norm, making it a more expensive place to call home.
The surge in grocery costs is indeed alarming, especially when groceries make up a large portion of your monthly expenditures. Over the past two years, there has been an inflation of over 10% in grocery prices. Unfortunately, Mill Creek East does not fare better, with grocery expenses coming in at 12.4% higher than the national average.
Is Mill Creek East Affordable?
Is Mill Creek East affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Mill Creek East, for instance, where the median home price falls 215.4% higher than the national average, and monthly rent rates are 143.3% higher than usual. Additionally, median income levels contribute to the equation, with Mill Creek East flaunting a median household income of $142,307, 157.2% higher than the national norm.
What Factors can Influence the Cost of Living in Mill Creek East?
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Mill Creek East, the groceries index is 12.4% higher than the national average.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Mill Creek East, healthcare costs are 18% higher than the national average.
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Mill Creek East, the transportation index is 21.8% higher than the national average.
Where is the Data From?
The cost of living data in Mill Creek East displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.
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