An Overview of Cost of Living in Moses Lake, WA
Getting a feel for the cost of living in Moses Lake is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Moses Lake is 103, which is 3% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
The cost of living in Moses Lake aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Moses Lake residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.
What Do Locals Say About the Cost of Living in Moses Lake?
When it comes to knowing a city, its residents are the experts. We conducted a survey with 10 locals to understand their opinions on the cost of living in Moses Lake. The results indicated that 30% found it reasonably priced with decreasing prices of goods and services, while 70% viewed it as quite expensive, with increasing prices.
Is Moses Lake Affordable?
Is Moses Lake 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 Moses Lake, the median home price is 1.8% higher than the national average and monthly rent prices are 1.7% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Moses Lake boasting a median household income of $60,136, 8.7% higher than the national average.
What Factors can Influence the Cost of Living in Moses Lake?
Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Moses Lake, the housing index stands at 1.8% higher than the national average.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Moses Lake, the groceries index is 6.6% higher than the national average.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Moses Lake, the transportation index is 23.3% higher than the national average.
Where is the Data From?
The Moses Lake 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.