An Overview of Cost of Living in Moore, OK
The cost of living in Moore affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Moore is 91, which is 9% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
The cost of living in Moore aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Moore residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.
Everyday items like clothes, personal care products and fun activities all add up to what it costs to live. The thing is, in Moore, these goods and services are 13.1% cheaper than what people pay on average across the country. That means you can enjoy what you need and like without going broke. With these savings, you can stash more cash in your savings or use it for other money goals, which can really boost your financial health.
Is Moore Affordable?
Wondering if Moore is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Moore, for example, the median home price is 19.6% lower than what folks pay nationally, and monthly rent is 12.1% higher than the usual rates. Plus, income levels matter too, with Moore boasting a median household income of $67,851, which is 22.6% higher than the national average.
What Factors can Influence the Cost of Living in Moore?
Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.
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 Moore, healthcare costs are 4.6% higher than the national average.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Moore, the groceries index is 6.8% lower than the national average.
Where is the Data From?
The Moore cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.
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