An Overview of Cost of Living in Winfield, KS
Are you thinking about relocating, but curious about the potential cost of living in Winfield? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Winfield stands at 80, making it 20% lower 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 often consume a significant share of your take-home income, often surpassing 30%. Fortunately, Winfield distinguishes itself by reporting housing expenses that are 43.5% below the national average. This indicates that both owning a home and renting in this area are notably more budget-friendly compared to the rest of the nation. With such favorable housing affordability, residents of Winfield can allocate more of their income to housing, enhancing their financial flexibility.
Everyday items like clothes, personal care products and fun activities all add up to what it costs to live. The thing is, in Winfield, these goods and services are 15.1% cheaper than what people pay on average across the country. That means you can enjoy what you need and like without going broke. With these savings, you can stash more cash in your savings or use it for other money goals, which can really boost your financial health.
Is Winfield Affordable?
Wondering if Winfield 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 Winfield, for example, the median home price is 49.7% lower than what folks pay nationally, and monthly rent is 28.9% lower than the usual rates. Plus, income levels matter too, with Winfield boasting a median household income of $48,027, which is 13.2% lower than the national average.
What Factors can Influence the Cost of Living in Winfield?
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 Winfield comes in at 0.1% higher than the national average.
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Winfield, the housing index is 43.5% lower than the national average.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Winfield, healthcare costs are 16.1% lower than the national average.
Where is the Data From?
The Winfield cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.
Here are the best places to live in Kansas
Top 10 best public schools in Winfield
See the best places to live in & around Winfield
Top 10 cities in Kansas with the best education system