An Overview of Cost of Living in Arlington, WA
Knowing the cost of living in Arlington 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 Arlington stands at 133, marking it 33% higher than the national average.
If you prioritize affordability when seeking a new place to live, Arlington 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, Arlington falls into this category, which may not align with your preferences for a budget-friendly living environment.
Housing costs significantly influence the Arlington cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 75.7%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.
Recurring essentials like haircuts, toothpaste, and entertainment, from movies to gym sessions, can really add up in your budget and make up 33% of the cost of living index. In Arlington, you you will have to spend 18.7% more than average when compared to the typical prices for these items, making it a more expensive place to live.
The cost of groceries continues to rise at an alarming rate. Over the last two years, grocery prices have increased by more than 10%! Unfortunately, in Arlington, the news isn't any better as grocery prices are 12.4% higher than the national average.
Is Arlington Affordable?
Is Arlington affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Arlington, the median home price is 87.2% higher than the national average and monthly rent prices are 48.8% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Arlington boasting a median household income of $77,023, 39.2% higher than the national average.
What Factors can Influence the Cost of Living in Arlington?
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 Arlington, the baseline sales tax rate begins at 6.5%, and income tax rates start at 0%.
Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall 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 Arlington, healthcare costs are 18% higher than the national average.
Where is the Data From?
The cost of living data in Arlington 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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