An Overview of Cost of Living in Tigard, OR
Knowing the cost of living in Tigard allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Tigard stands at 138, marking it 38% higher than the national average.
If you prioritize affordability when seeking a new place to live, Tigard may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Tigard falls into this category, which may not align with your preferences for a budget-friendly living environment.
Housing costs are a major factor in the Tigard cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 106.7% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
The relentless increase in grocery prices is a noteworthy trend. In the last two years, grocery costs have experienced an upward trajectory of over 10%. Unfortunately, Tigard is no exception, where grocery prices are 10.5% above the national average.
What Do Locals Say About the Cost of Living in Tigard?
The real experts on a city are its residents. That's why we reached out to 7 locals to get their views on the cost of living in Tigard. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 57% found it budget-friendly with decreasing prices, while 43% said it's simply not affordable as prices have continued to rise.
Is Tigard Affordable?
Is Tigard an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Tigard, the median home price is 133.7% higher than what most folks pay across the country, and monthly rent prices are 43.6% higher than the usual rates. Income levels in Tigard come in at $86,757, which is 56.8% higher than the national average.
What Factors can Influence the Cost of Living in Tigard?
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Tigard, the housing index is 106.7% higher than the national average.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Tigard, healthcare costs are 9.6% higher than the national average.
Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Tigard, the prevailing sales tax rate starts at 0%, and income tax rates kick off at 4.75%.
Where is the Data From?
The Tigard 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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