| Index | Fairwood | Washington | National |
| Cost of living | 147 | 119 | 100 |
| Groceries | 110 | 107 | 100 |
| Health care | 112 | 109 | 100 |
| Housing | 227 | 138 | 100 |
| Transportation | 113 | 112 | 100 |
| Utilities | 111 | 110 | 100 |
| Lifestyle & Entertainment | 118 | 112 | 100 |
| Household Items | 106 | 107 | 100 |
| Education & Childcare | 124 | 117 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Fairwood? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Fairwood stands at 147, making it 47% higher 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.
If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Fairwood is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Fairwood falls into this category, which may not align with your goal of finding a budget-friendly living environment.
Housing costs are a very significant part of the Fairwood cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 127.2% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.
Is Fairwood 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 Fairwood, the median home price is 142.5% higher than the national average and monthly rent prices are 91.4% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Fairwood boasting a median household income of $139,936, 72.1% higher than the national average.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Fairwood, the groceries index is 9.8% higher than the national average.
Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Fairwood, the housing index comes in at 127.2% higher than the national average.
Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Fairwood, the utilities index stands at 11.2% higher than the national average.
The Fairwood cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $164,444 | $13,704 | $3,837 | $4,934 |
| Renters | $84,998 | $7,083 | $1,983 | $2,550 |
| State | General Sales Tax | With Max Surtax |
| Washington | 6.5% | 10.4% |
| State | Income Tax (Low) | Income Tax (High) |
| Washington | 0% | 0% |
| City | Population | Cost of Living Index | National Avg. |
| Fairwood CDP (Spokane County), WA | 8,331 | 113 | 13.4% |
| Algona, WA | 3,277 | 124 | 23.8% |
| Tacoma, WA | 223,137 | 125 | 24.9% |
| Pacific, WA | 7,286 | 126 | 25.7% |
| Tukwila, WA | 20,710 | 126 | 25.7% |
| Fairwood, WA | 19,921 | 147 | 47.1% |
| City | Population | Cost of Living Index | National Avg. |
| Mamaroneck, NY | 19,917 | 167 | 66.6% |
| Boone, NC | 19,927 | 109 | 9.3% |
| Cumberland, MD | 19,928 | 94 | 6.4% |
| Sylvania, OH | 19,910 | 95 | 4.5% |
| Salmon Creek, WA | 19,907 | 131 | 30.5% |
| Fairwood, WA | 19,921 | 147 | 47.1% |
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