Whitmore Village cost of living index

Here we can see a simple outline of the cost of living in Whitmore Village, HI. As you can see, with the average cost of living in Whitmore Village, HI being 168, that puts it 5% lower than the average of Hawaii and 68% 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 Whitmore Village, HI, the price of goods and services are equal to the average of Hawaii as well as 29% higher than the nation's average.

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Salary Calculator

Use the salary calculator to compare your current salary in Whitmore Village, HI to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Whitmore Village, HI, then you would need to earn more income in order to maintain the same standard of living. To use the Whitmore Village, HI salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

The affordability of the housing market in Whitmore Village, HI 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 Whitmore Village, HI homeowners, the median income is $89,659. This indicates that a monthly maximum of $2,092 should be spent by homeowners on all housing related costs. Renters have a median income of $44,861. This indicates that renters should have a maximum of $1,047 used for their rent related monthly costs.

Hawaii Sales Tax

Hawaii Income Tax

When you are determining the total cost of living in Whitmore Village, HI you will want to make sure you consider both the Hawaii sales tax and the Hawaii income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Hawaii is 4.166%, with the highest surtax being 4.712%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Hawaii have a range from 1.4% to 8.25%.

Goods & Services

Groceries

Health Care

Housing

Transportation

Utilities

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.

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Source: The Whitmore Village, HI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.