In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Here we can see a simple outline of the cost of living in Parkland, WA. As you can see, with the average cost of living in Parkland, WA being 107, that puts it 7% lower than the average of Washington and 7% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Parkland, WA, the price of goods and services are 9% higher than the average of Washington as well as 16% higher than the nation's average.
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Did you know?
The cost of living in Parkland is 7% lower than the Washington average.
The cost of living in Parkland is 7% higher than the national average.
The cost of housing in Parkland is 5% lower than the national average.
Washington general sales tax is 28% higher than the national average.
Washington state income tax is 100% lower than the national average.
Compare Parkland, WA Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
Using the salary calculator lets you compare the salary you earn in Parkland, WA to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Parkland, WA, you have to earn a higher income in order to still have the same standard of living. To operate the Parkland, WA salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
The affordability of the housing market in Parkland, WA as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Parkland, WA homeowners, the median income is $66,673. This indicates that a monthly maximum of $1,556 should be spent by homeowners on all housing related costs. Renters have a median income of $35,551. This indicates that renters should have a maximum of $829 used for their rent related monthly costs.
Washington Sales Tax
General Sales Tax
With Max Surtax
Washington Income Tax
Income Tax (Low)
Income Tax (High)
When considering the overall cost of living expenses in Parkland, WA, it's important to take into account the sales tax for Washington, as well as the rate for income tax in Washington. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Washington is 10.4%, and the sales tax in the state of Washington is 6.5%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Washington starts from 0% and goes up to 0%.
Goods & Services
Avg. Mortgage Payment
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.