F
36%
Overall NAT. AVG.
19%
Goods & Services NAT. AVG.
85%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Silverdale Washington National
Cost of living136118100
Goods & Services119111100
Groceries109110100
Health care130120100
Housing185135100
Transportation132123100
Utilities9092100

An Overview of Cost of Living in Silverdale, WA

The cost of living in Silverdale 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 Silverdale is 136, which is 36% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

If you value affordability in your search for a new place to live, Silverdale may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Silverdale falls into this category, which may not align with your desire for an affordable place to call home.

Housing costs make up a big chunk of the cost of living in Silverdale, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 85% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Goods and services make up 33% of the total cost of living index score and are a large part of your everyday expenses. These items could include things like haircuts, salons, toothpaste, shampoo, clothes, movies, bowling, gym memberships or yoga. In Silverdale, you can expect to pay 18.9% more than average for these items, making it a more expensive place to live.

Is Silverdale Affordable?

Is Silverdale 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 Silverdale, for instance, where the median home price falls 91.6% higher than the national average, and monthly rent rates are 69.7% higher than usual. Additionally, median income levels contribute to the equation, with Silverdale flaunting a median household income of $81,458, 47.2% higher than the national norm.

What Factors can Influence the Cost of Living in Silverdale?

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Silverdale, the groceries index is 9.4% 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 Silverdale, the transportation index is 31.5% higher than the national average.

Where is the Data From?

The cost of living in Silverdale, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Silverdale is 15% higher than the Washington average
  • The cost of living in Silverdale is 36% higher than the national average
  • Silverdale housing is 85% higher than the national average
  • Washington general sales tax is 27% higher than the national average
  • Washington state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Silverdale

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Compare Silverdale, WA Cost of Living

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      Salary Calculator

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$104,866$8,739$2,447$3,146
      Renters$68,890$5,741$1,607$2,067
      The affordability of the housing market in Silverdale, WA as well as the overall cost of living can be predicted 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 be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Silverdale homeowners, the median income is $104,866. This indicates that a monthly maximum of $2,447 should be spent by homeowners on all housing related costs. Renters have a median income of $68,890. This indicates that renters would have a maximum of $1,607 for their rent related monthly costs.

      Washington Sales Tax

      State General Sales Tax With Max Surtax
      Washington 6.5% 10.4%

      Washington Income Tax

      State Income Tax (Low) Income Tax (High)
      Washington 0% 0%

      Goods & Services

      Item Silverdale National avg. Difference
      Haircut $35.56$24.2646.6%
      Beauty Salon $57.20$45.5625.5%
      Toothpaste $3.97$3.707.2%
      Shampoo $1.32$1.283.2%
      Movie $15.20$12.1325.3%
      Bowling $23.33$18.0029.6%

      Groceries

      Item Silverdale National avg. Difference
      Ground Beef $5.76$5.841.4%
      Fried Chicken $2.20$1.5740.1%
      Milk $5.02$4.677.5%
      Potatoes $4.41$4.9310.6%
      Pizza $15.44$12.0927.7%
      Beer $11.94$10.4114.7%

      Health Care

      Item Silverdale National avg. Difference
      Optometrist $238.27$125.6889.6%
      Doctor $147.56$135.788.7%
      Dentist $129.03$113.2913.9%
      Ibuprofen $12.23$10.6514.8%
      Lipitor $546.24$468.6016.6%

      Housing

      Item Silverdale National avg. Difference
      Home Price $353,800.00$184,700.0091.6%
      Avg. Mortgage Payment $4,122.62$2,346.6975.7%
      Apartment Rent $1,610.00$949.0069.7%

      Transportation

      Item Silverdale National avg. Difference
      Gasoline $4.38$3.4626.6%
      Tire Balancing $65.96$59.9210.1%

      Utilities

      Item Silverdale National avg. Difference
      All Electricity $171.50$193.9911.6%
      Phone $200.35$192.254.2%
      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 Population Cost of Living Index National Avg.
      Port Gamble Tribal Community, WA7831066.3%
      Quilcene, WA66411111.3%
      Navy Yard City, WA2,97311414.3%
      Erlands Point-Kitsap Lake, WA3,09511515.3%
      East Port Orchard, WA5,06912121.4%
      Silverdale, WA21,85813636.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Fort St. John, BC21,858n/a 
      Sunny Isles Beach, FL21,85312827.9%
      Lexington, SC21,8471032.8%
      Rose Hill, VA21,84615151.1%
      Darien, IL21,84312323.3%
      Silverdale, WA21,85813636.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.