| Index | Mountlake Terrace | Washington | National |
| Cost of living | 138 | 119 | 100 |
| Groceries | 108 | 107 | 100 |
| Health care | 108 | 109 | 100 |
| Housing | 210 | 138 | 100 |
| Transportation | 107 | 112 | 100 |
| Utilities | 107 | 110 | 100 |
| Lifestyle & Entertainment | 108 | 112 | 100 |
| Household Items | 105 | 107 | 100 |
| Education & Childcare | 110 | 117 | 100 |
Knowing the cost of living in Mountlake Terrace 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 Mountlake Terrace stands at 138, marking it 38% higher than the national average.
The cost of living in Mountlake Terrace is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Mountlake Terrace falls into this category, which may not be suitable for those seeking an economically favorable living environment.
Housing costs significantly influence the Mountlake Terrace 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 109.5%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.
Wondering if Mountlake Terrace 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 Mountlake Terrace, for example, the median home price is 128.5% higher than what folks pay nationally, and monthly rent is 65.2% higher than the usual rates. Plus, income levels matter too, with Mountlake Terrace boasting a median household income of $121,704, which is 49.6% higher than the national average.
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 Mountlake Terrace, healthcare costs are 7.8% 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 Mountlake Terrace, the baseline sales tax rate begins at 6.5%, and income tax rates start at 0%.
Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Mountlake Terrace, the transportation index is 6.5% higher than the national average.
The Mountlake Terrace cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional city-to-city comparisons.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $146,251 | $12,188 | $3,412 | $4,388 |
| Renters | $87,305 | $7,275 | $2,037 | $2,619 |
| 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. |
| Port Gamble Tribal Community, WA | 802 | 99 | 0.8% |
| Enetai, WA | 2,067 | 120 | 19.9% |
| Suquamish, WA | 4,441 | 121 | 20.9% |
| Indianola, WA | 3,678 | 129 | 28.9% |
| Snohomish, WA | 10,507 | 133 | 32.8% |
| Mountlake Terrace, WA | 21,935 | 138 | 38.1% |
| City | Population | Cost of Living Index | National Avg. |
| Mukilteo, WA | 21,937 | 165 | 64.8% |
| Ramona, CA | 21,948 | 155 | 54.8% |
| Piqua, OH | 21,958 | 85 | 15.3% |
| Mountain House, CA | 21,975 | 180 | 79.7% |
| La Porte, IN | 21,881 | 87 | 12.8% |
| Mountlake Terrace, WA | 21,935 | 138 | 38.1% |
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