An Overview of Cost of Living in Sunrise Manor, NV
Are you thinking about relocating, but curious about the potential cost of living in Sunrise Manor? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Sunrise Manor stands at 98, making it 2% lower 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.
The cost of living in Sunrise Manor closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Sunrise Manor can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.
Everyday essentials such as clothing, personal hygiene products and entertainment all contribute to your overall cost of living. The good news is that in Sunrise Manor, these goods and services come in at 16.2% less than the national average. This means you can enjoy the things you need and love without breaking the bank. With such savings, you have the opportunity to allocate more funds towards your savings or other financial goals, ultimately enhancing your financial well-being.
Is Sunrise Manor Affordable?
Wondering if Sunrise Manor 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 Sunrise Manor, for example, the median home price is 3.7% higher than what folks pay nationally, and monthly rent is 5.2% higher than the usual rates. Plus, income levels matter too, with Sunrise Manor boasting a median household income of $44,641, which is 19.3% lower than the national average.
What Factors can Influence the Cost of Living in Sunrise Manor?
Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Sunrise Manor, the groceries index is 4.9% higher than the national average.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Sunrise Manor, the baseline sales tax rate begins at 6.85%, and income tax rates start at 0%.
Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Sunrise Manor, the healthcare costs are 11.3% lower than the national average.
Where is the Data From?
The Sunrise Manor 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. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.
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