An Overview of Cost of Living in Tukwila, WA
Are you thinking about relocating, but curious about the potential cost of living in Tukwila? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Tukwila stands at 128, making it 28% 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 you prioritize affordability when seeking a new place to live, Tukwila 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, Tukwila falls into this category, which may not align with your preferences for a budget-friendly living environment.
When it comes to the cost of living in Tukwila, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 62.2% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Goods and services make up 33% of the total cost of living index score and are a large part of your everyday expenses. These items could include things like haircuts, salons, toothpaste, shampoo, clothes, movies, bowling, gym memberships or yoga. In Tukwila, you can expect to pay 13% more than average for these items, making it a more expensive place to live.
Groceries are getting more expensive by the day and the cost of groceries makes up 13% of the overall cost of living index. In the past two years, prices have shot up by over 10%! Unfortunately, in Tukwila, it's the same story – grocery costs are 16% higher than what people pay across the country.
Is Tukwila Affordable?
Is Tukwila an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Tukwila is 70.1% higher than the national average, while the average monthly rent prices are 43.6% higher than average. The affordability of any location can also be influenced by median income levels. Tukwila has a median household income of $63,053, which is 14% higher than the national average.
What Factors can Influence the Cost of Living in Tukwila?
Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Tukwila, the groceries index registers 16% higher than the national average.
Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Tukwila comes in at 3.3% lower than the national average.
Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Tukwila starts at 6.5% and the income tax rates start at 0%.
Where is the Data From?
The cost of living data in Tukwila 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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