An Overview of Cost of Living in Wenatchee, WA
Are you thinking about relocating, but curious about the potential cost of living in Wenatchee? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Wenatchee stands at 118, making it 18% 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.
Housing costs are a major factor in the Wenatchee cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 33.6% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
The things you purchase regularly, like clothes, haircuts, movie tickets and gym memberships, can make a big dent in your budget and make up 33% of the cost of living index. Unfortunately in Wenatchee, these items will cost you 13.3% more than what's considered the norm, making it a more expensive place to call home.
What Do Locals Say About the Cost of Living in Wenatchee?
The most insightful perspective on a city comes from its residents. We recently surveyed 13 locals to gauge their perception of the cost of living in Wenatchee. The feedback revealed that 31% of respondents found the cost of living to be reasonable, with prices on the decline, while 69% regarded it as notably expensive with prices that continue to rise.
Is Wenatchee Affordable?
Is Wenatchee an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Wenatchee, the median home price is 47.9% higher than what most folks pay across the country, and monthly rent prices are 0.2% higher than the usual rates. Income levels in Wenatchee come in at $56,962, which is 3% higher than the national average.
What Factors can Influence the Cost of Living in Wenatchee?
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 Wenatchee, the baseline sales tax rate begins at 6.5%, and income tax rates start at 0%.
Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Wenatchee, healthcare costs are 18.7% higher than the national average.
Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.
Where is the Data From?
The Wenatchee cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.