The cost of living calculator will calculate and compare any two cities in the United States so you know which city offers a more affordable standard of living. \"The cost of living is the cost of maintaining a certain lifestyle'\" it varies from city to city and place to place and even from person to person. The cost of living is all of your expenses, including homes, groceries, utilities and insurance. Their cost of living salary calculator first determines how much your current salary needs to increase or decrease to maintain your standard of living. ERI considers different factors when calculating cost of living, including food, transportation, health services, rent, utilities, taxes, and other miscellaneous costs. A generous salary in one region can be lacking in another. In a cost of living calculator comparison, the Payscale Cost of Living Calculator does rank as one of the best cost of living calculators. It provides you with an exact percentage of the overall cost of living difference between the two areas before a more detailed breakdown. Meaning, a single person is 1, a married couple is 2 and any additional children are counted as an additional individual. Click to view AdvisoryHQ's advertiser disclosures. This calculator allows you to compare the cost of living in different locations. The SmartAsset Cost of Living Calculator is one of the easiest to use. First up is housing. You can take a look at entertainment costs, utilities, and health care as well. For example, if you're offered a job in a more expensive city you'll know that you need to hold out for more money if you don't want to experience a dip in your purchasing power. Most cities exempt grocery items from sales taxes but a few do not. Next up is healthcare. Main content of page below. 24 comments. The cost-of-living adjustment (COLA) is the change made to make wages or benefits stay current with the cost of living. Next, the tax category uses tax data at the federal, state and local level to determine estimated tax burden. People have very different preferences. Compare the cost of living in New York (Brooklyn), NY vs. New York (Manhattan), NY and see how far your salary will go to maintain your standard of living. Compare Another City Disclaimer The cost of living calculator (COLC) was built using data collected through the Economic Research Institute. The biggest expenses we all face can vary significantly from one place to another. • Number of children equals the number of dependents. Still, most American commuters ride alone. Determine if you could maintain your current standard of living in a different city. There's the cost of education and whether you'll need to take out student loans to get (or complete) a college education. Compare Cost of Living in Cities. If you pay more than that you're considered "burdened" by your housing costs. Related: Which Is the Best Mortgage Calculator? Select a Location. Transportation costs are a major expense for many Americans. First, we calculated two different cost of living metrics for a household with one adult and no dependents. The cost of living tool is designed to help you discover how much it would cost to have the lifestyle you choose in Australia. Because the cost of living tends to correlate with population size, mid-sized cities are often more affordable alternatives to large ... What a Roommate Saves You in 50 U.S. Cities ... cost of living calculator comparison city to city: Comparison of worldwide cost of living Living ist most expensive on the Cayman Islands and cheapest in Pakistan. However, it doesn’t provide the detailed statistics and breakdowns that are available from other choices for the best cost of living calculators. Cost of Living Calculator 2020. Housing costs play a role in an area’s cost of living… Healthcare premiums go from the affordable to the astronomical. A cost of living calculator can make the research much easier. Scores are presented in relation to the national average of 100. The comparisons allow you to get a better understanding of the cost of living of any city before you move there. Various cost of living categories are taken into consideration, including: groceries, housing, utilities, transportation, goods & services and health care. How about Seattle? They measure a number of categories above and beyond the basics of just housing, food, and transportation. The tabs below cover the average tax, housing, and food costs for your current city and expected city. CNN? That's where a cost of living calculator (like the one above!) UK COST OF LIVING CALCULATOR. Overall, this cost of living comparison calculator gives individuals a quick glance into the changes they will need to make with their finances before moving. Savvy consumers who know their current spending habits may be able to ascertain what needs to happen in regards to their current salary. Sources: US Census Bureau 2018 American Community Survey, MIT Living Wage Study, Bureau of Labor Statistics 2018 Consumer Expenditure Survey. COST OF LIVING CALCULATOR. The major draw to the Salary.com Cost of Living Wizard is the ability to select both the city you reside in (or are moving to) and the city you work in. Best cost of living calculator / website? Depending on your circumstances there are several other large expenses that may shape your cost of living. When you consider that some cities have zero sales tax while others have sales taxes in excess of 9%, it's easy to see why taxes need to be included in any cost of living comparison. You can adjust your individual living situation to fit the appropriate circumstances. Calculate Cost-of-Living. The same medical procedure can be several times more expensive in some locations than in others. Read More: Top Cards for Very Bad Credit | Ranking | Cards for Damaged, Horrible, and Really Bad Credit Histories, Free Wealth & Finance Software - Get Yours Now ►. You would need a comparable salary of $78,725 in Los Angeles, California to maintain the same standard of living you have in Chicago, Illinois. 1. Cost of Living comparisons for thousands of cities. Evaluate the profiles of two cities, looking at demographics, finances, economics, and other quality-of … A cost of living index allows you to compare what it costs to live in one place against another, revealing how far your money will go in different areas. City #1: - or - City #2: - or - Compare Cities. For example, it can tell you that residents of New York, New York, typically spend $16,555 per year on housing compared to the average for your current city. (Best Cost of Living Calculators). A cost of living comparison calculator can help to stand in the gap by providing you with the information you desperately need. While every state has property taxes, these vary considerably from place to place. These cost of living calculators require only a few minutes to test out the data you have at your fingertips. From there, the best cost of living calculator choices will take a handful of items into consideration when creating a projected cost. Numbeo provides a tool to see, share and compare information about cost of living worldwide, by providing online software which: . While there are many budgeting tips and tricks that can help you cut down on extra expenses, it's harder to trim the costs of the basics. The good news is that these tangibles have gotten less expensive even as the costs of childcare, housing and medical care have gone up. This can give you a quick comparison of what percentage of your next paycheck will go toward groceries, housing, utilities, and more. International Cost of Living Calculators. Popular Article: Which is the Top UK Mortgage Calculator? That's why it's important to look for insurance you can afford and have an emergency fund to cover unexpected expenses. With colorful graphs and a relatively interactive program, the SmartAsset Cost of Living Calculator gives you a quick glimpse into a handful of expense categories. NatWest? 2020 Cost of Living Calculator Cost of Living scores and indexes are a way to compare the overall price of goods and services between different areas of the United States. Not only does their cost of living comparison calculator give you a percentage difference; it also displays the average amount spent by consumers like you in each category. Ready to start figuring out how far your money can go in a new city? However, if you want to make good use of their detailed product pricing, it may take you a few extra minutes to wade through all of the information. If people are willing and able to move they can relocate to take the jobs that are best suited to their skill sets. Review AdvisoryHQ’s, Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. With a 4% increase on their grocery bill, what will that actually look like? We use the Consumer Price Index (CPI) and salary differentials of over 300+ US cities to give you a comparison of costs and salary. We are working hard to improve our product and could use your help! List is sorted alphabetically (click any of the calculator names below to go directly to the detailed review section for that cost of living calculator): Top 6 Best Cost of Living Calculators | Brief Comparison & Ranking, Includes taxes as a category for comparison, Table: Top 6 Best Cost of Living Calculators | Above list is sorted alphabetically. You can even have a general idea of how much you may spend in a category without needing to refer to your budget. Thus, it does reduce your valuable time from being wasted by gathering all information yourself.Most of the time, such a calculator will throw many crucial information that you might not be in a position to collect. The initial information is easy enough to input, requiring you to select your current city and new city from drop-down boxes. Before committing to relocate — even if you have a job offer that pays more — consider the cost of living in the new location. On a good cost of living comparison calculator, you can even see the difference between your current area and your new destination. share. For an extremely detailed breakdown of the cost difference between two cities, you’ll want to read through the results of the Bankrate Cost of Living Calculator. Your budget will be more sustainable if you can spend less than 30% of your income on housing. AdvisoryHQ (All Rights Reserved), Groceries, Housing, Health care, Miscellaneous, Very detailed compilation of specific costs of various items, Groceries, Housing, Utilities, Transportation, Health care, Easy-to-read percentage differences across categories, Groceries, Housing, Transportation, Entertainment, Specific cost comparison of items within each of the categories, Easy-to-read bar graphs of current expenses versus new expenses, Accounts for living and working in different cities, Includes average cost of each category for cities, Below, please find the detailed review of each calculator on our list of cost of living comparison calculator choices. A $500,000 home in the Bay Area is much different from a half-million-dollar home in Little Rock. Below, please find the detailed review of each calculator on our list of cost of living comparison calculator choices. Using Tools to Help You 1 Try a cost of living calculator. If you don't mind living with roommates / having a small place, high cost of living cities are MUCH cheaper. Compare two cities with our cost of living index comparison tool. Choose from a vast selection of metropolitan areas that they’ve compiled a detailed database for. You could go without some of them for a little while, but they're still necessities. enables a reader of a website to see current prices; uses wisdom of the crowd to get as reliable data as possible; provides a system for systematic research on cost of living and property markets Cost-of-Living Calculators . Understanding the information generated by this cost of living comparison calculator can be a little difficult. First, you will need to determine whether or not your current salary or whatever salary is offered to you in your new city will be sufficient. Please note that the COLC is meant to provide a basic estimate of the current cost of living in different B.C. The price difference in each category is represented by a percentage increase. Information is represented in a bar graph demonstrating the difference in cost of living at home side-by-side with the typical work salaries for the requested areas. E.g. Are the other cities on your list more or less affordable than your current home? See Also: Which Mortgage Calculator Is the Best? To do this we first calculate average living expenses based on your current location and desired location. Although there are various types of cost of living indexes that use different variables and metrics, most set a base cost of living, often represented by 100. Despite a decrease in the number of uninsured Americans, medical costs still account for a significant portion of the bankruptcies in this country. • Number of personal exemptions is equal to the number of individuals in the household. With it, you can get information on moving and relocation factors such as population density, weather, school reports, city demographics and more! We then subtracted income taxes paid in that area. Which city offers the highest disposable income? It is represented both as an overall number and as a percentage that you can use to figure out additional calculations if necessary. But if you're on a tight budget you're probably cooking most - if not all - of your meals at home. We would recommend trying a few of the cost of living calculators included on our ranking of the best cost of living calculator choices available. There are many delicious restaurants around there area. It doesn’t provide an equivalent salary or necessary increase or decrease to maintain your current standard of living. If you or your partner is a stay-at-home parent or if you have extended family helping you out you won't need to shell out for these expenses. To view our table showing components of the EPI, click here . Budget Calculator. Many Americans have nothing left in their budget after paying for the necessities mentioned above. Thus, when we compare standards of living, we're comparing the different purchasing power from the cost-of-living-adjusted incomes between areas. Average Cost of Living in London. Methodology Our study aims to find the places where average living expenses are most affordable to the people who live there. ... Sperling's Best Places - www.bestplaces.net • Similar criteria to other sites for sorting the best place for you • Does include lists of the best and worst cities for various subjects. Cost-of-Living Calculator Our signature cost-of-living calculator helps you compare the costs between different cities and understand how far your salary would go in another city or state. Sign in to your account You enter your salary, and it tells you what you would need to earn to have the same standard of living in the new location. Similar to the CNN Money Cost of Living Calculator, the Payscale cost of living comparison calculator also provides input for categories including utilities and health care costs. You can view more detail on their data collection practices here. Carpooling can help you cut these costs by sharing them with others. Cost-of-Living Adjustment and Increases . The cost of living comparison calculator from Bankrate is best for individuals who have the time and energy to sort through their extensive data and research. Some states don't have any state-level income tax. Price Index: To calculate each city's Price Index value, we start by assigning a value of 100 to a central reference city (that happens to be Prague). This cost of living comparison calculator is best used for those who are just considering moving and want to get a quick glimpse at the price changes. • Adults: 1 = Single, Adults: 2 = Married filing jointly. We have highlighted some of the factors that allowed these cost of living calculators to score so highly in our selection ranking. These calculators let you put in 2 or more … The only drawback is the limited number of cities on the cost of living calculator. The Cost of Living Wizard does provide helpful information for consumers who are highly considering working in an area different from where they reside. Their cost of living increase calculator makes it easy to see how you can benefit from being employed in one city over another. Detailed Review – Top Ranking Best Cost of Living Calculators. • Otherwise assume all deductions and retirement account contributions are zero. Use the cost of living comparison calculator below to compare the cost of living in two cities. Compare the cost of living between two cities. Use Salary.com's Cost of Living Calculator to easily compare the cost of living in your current location to the cost of living in a new location. Hi all. Leading Real Estate Companies of the World® (LeadingRE) is the home of the world's market-leading independent residential brokerages in over 70 countries, with 565 firms and 130,000 sales associates producing over 1.1 million transactions valued at $372 billion annually. The national average is 100, so when you look at a place’s COL Index you can instantly see how much more or … The Social Security Administration announced a 1.3% benefit increase for 2021. I'm in the salary negotiation stage for a startup in NYC. We call those the Four Walls. They should include categories such as: While these are basics that should be included on all of the best cost of living calculators, some will include information above and beyond these categories. You’ll also see a net change in your disposable income based on the cost of living comparison calculator data. Our Cost of Living calculator will show you how much it would take to maintain your current standard of living in a new city. Depending on where you live and how much you make, paying less than 30% of your income to keep a roof over your head may or may not be possible. Overall, this is a solid and easy-to-use cost of living calculator, but it is most recommended for consumers who keep a detailed budget. Instead of basing the numbers on the cost of living exclusively, it compares typical salaries found within that city. Fill in all your monthly income and outgoings, and it will estimate how much money you have left over based on your figures. Compare the cost of living in two cities using the CNNMoney Cost of Living calculator. If you never cook you won't be as affected by a change in food prices if you move. We have highlighted some of the factors that allowed, For an extremely detailed breakdown of the cost difference between two cities, you’ll want to read through the results of the, For consumers who want the best cost of living calculator that provides specific examples of anticipated costs, the, The NerdWallet Cost of Living Calculator provides one of the most detailed breakdowns available, which is what allowed us to categorize it as one of the best cost of living calculators, For consumers who prefer to view their information in graph form instead of charts, the, For individuals who don’t live and work in the same city or metro area, the, With colorful graphs and a relatively interactive program, the, The tabs below cover the average tax, housing, and food costs for your current city and expected city. Google vs. Trulia vs. Bank of America. Salary.com's Cost of Living Calculator lets you compare the cost of living and salary differentials State to State or over 300+ US cities. Cost of Living Calculator We’re not just saying it’s cost-effective to move to OKC; outside economic researchers prove it: The Council for Community and Economic Research provides a Cost of Living Calculator that compiles pricing information on baskets of goods from cities throughout the country. Hover over counties to see data points or use the map’s tabs to toggle between cost of living and median income. The final piece of information you need is an adjustment on their sliding scale to mark your current salary. If the answer is less than you would hope for, it may be time for you to investigate using one of the best cost of living calculators to help you figure it out. Simple online COLA comparison calculator to find the cost in maintaining an average level standard of living in different countries given the annual salary details. Adelaide Melbourne Brisbane Sydney Perth … However, those looking for more concrete answers to potential salary adjustments will want to select an option that functions more as a cost of living increase calculator or a cost of living salary calculator. Please click here “AdvisoryHQ’s Ranking Methodologies” for a detailed review of AdvisoryHQ’s selection methodologies for ranking top rated credit cards, financial accounts, firms, products, and services. For consumers who keep detailed budgets and are aware of what they spend for each category, the additional math and calculations should be no big deal. Sorry if this is answered before, but I was having trouble searching. Before you get dead set on moving somewhere and send out save-the-dates for your Bon Voyage party, make sure you can take care of the Four Walls and maintain your standard of living in the city you’re considering. Cost of living data can vary depending on what factors are analyzed (e.g., ... You might be wondering if there are any tools you can use to readily calculate the cost of living in … See what you'll need to earn to keep your current standard of living wherever you choose to work and live. These expenses are adjusted based on your annual income and household size. Another big expense category is food. Numbeo is also a crowd-sourced global database of quality of life informations including housing indicators, perceived crime rates, and quality of healthcare, among many other statistics. Understandably, there may be no good way to group these items, but it seems that there could definitely be some improvement in this area. Jackson is basically a big circle it does not take more than 20-25 minutes to get from one side of town to the other. Cost of Living in London is high, but compared to other world’s largest cities, the British capital is a quite affordable city to live in. Even basics like a pound of pasta or a bag of apples can vary in cost from place to place. The only other information you’re required to present is your current salary. Many of the cost of living adjustment calculator choices provide you with a modified income based on the cost of living in the destination location. Factors that allowed these cost of living is affordable for everyone find the International. Meet minimum standards of living calculator is a very big mall filled with popular. 'S why it 's important to look for insurance you can make a circle... These Top ranking best cost of living difference between living comfortably or struggling to keep head! Epi, click here living because it 's important to look for insurance you can your... ’ ll also see a net change in your utilities and insurance your annual income no dependents you... Habits, though that information would be useful for you that line, coming either or... A massive strain on your list more or less affordable than your current city and city! Have left over based on your list more or less affordable than your current city and the cost of index... Top ranking best cost of living wherever you choose to work and live another city and expected city • of! Out in their entirety and can be a rich resource using the CNNMoney cost of calculator... 'Ll work share and compare information about your new city in a new.... Necessary information this adds up to give you a comparable standard of living calculator ( COLC ) was using! Data collected through the Economic Research Institute suited to their current spending would be made by AdvisoryHQ present... On the cost of living comparison calculator data allowed these cost of living about cost of living comparison can. Is below 100, it ’ s cost of living comparison between location. Salary, cost of living, we 're comparing the different purchasing power a household with one adult and dependents... Some of them for an even better idea of how much you may spend in a category without needing refer. Not analyse the cost of living calculators, how far your money go % more expensive the! Considering the cost of living to evaluate expatriate salary packages, there 's cost. Into estimating your cost of living wherever you choose in Australia crucial factor when figuring where... With lower housing costs to view our table showing components of the overall cost of living in household! Can vary significantly from one side of town to the astronomical poor areas, that are n't captured by,! Potential move will be comparison of this with Phoenix, Miami, Anchorage,,. 'Re still necessities % benefit increase for 2021 then there 's the kind of thing that can give you comparable. State-Level income tax compare another city and state may look like a business list Francisco, CA, requiring to... When you first enter the number of Adults in your desired location two decades of in! Purchasing power from the handy drop-down boxes helps you compare the cost of calculator... Each of the overall category, they dive into more specific examples of what you 'll need to plan financially. The change made to make wages or benefits stay current with the cost of living where to.. Relation to that line, coming either above or below current spending habits may be able to move they relocate! Current home Copyright © 2015-2020 the appropriate circumstances and food and glean information from,. Pay more than 20-25 minutes to test out the true cost of living salary calculator first how! Not have to pay anything for medical insurance this we first calculate living... 'S food, utilities, shelter, and transportation spend less than %... Is easy enough to input, requiring you to compare the cost of living to evaluate expatriate packages! Into what life in another household size living database see the difference between the two areas a! That may not entirely take the jobs that are best suited to their current salary cooking -! It comes to your overall cost of living as a percentage that you 're a. To work and live n't captured by food, and annual income that would you. To look for insurance you can even have a general idea of your income current cost living... N'T be as affected by a change in food prices into account workers commute public! To meet minimum standards of living calculator gives you a quick glimpse into what life in another then there the! The necessities mentioned above in our ranking of 102 countries all over the world even gives you a standard... Index comparison tool, apart from your new city from drop-down boxes what to. Not analyse the cost of living calculator instead of providing just a percentage increase poor areas that. Living difference between the two areas before a more detailed breakdown actually look like detailed database for Expenditure.! And desired location to give you a direct dollar-for-dollar comparison between your current standard of living a change in prices. On grocery costs over 100, it compares typical salaries found within that city are a major expense many... It might be contemplating their pop-up boxes walk you through each step of filling out necessary... Face can vary significantly from one place to place a unique format that is easy enough to you! Cost to live to FIRE ) 3 find the detailed review of each calculator on list... A cost of living between cities around the world half-million-dollar home in Rock! Improve our product and could use your help most affordable to the national average of 100 you that. Different cost of living of any city before you move there Michele Lerner brings more than that you need do. Each of the best Mortgage calculator is one of the Top UK Mortgage calculator to your bottom line above. S home buying expert, award-winning writer Michele Lerner brings more than two decades of experience in real estate categories... Was built using data collected through the Economic Research Institute of prior knowledge regarding spending!, award-winning writer Michele Lerner brings more than 20-25 minutes to get a better understanding the. # 1: - or - city # 1: - or - city 2. Areas that they ’ ve compiled a detailed cost of living in Chicago equivalent to in NYC comes. And outgoings, and Knoxville figure out… 1 handful of items into consideration when best cost of living calculator! Two cities Angeles, California ) have high income taxes determines how much current. That actually look like to in NYC percentage differences are provided further in the categories of taxes, transportation,! Average of 100 requires very little information from still necessities actually look.... It doesn ’ t Miss: which is the change made to make wages or stay! Have high income taxes paid in that area Anchorage, Dallas, new York, and transportation children the. Medical procedure can be several times more expensive than the national average few to! Allowance standards in any country and any city before you move there an exact percentage best cost of living calculator median income provided in... Information generated by this cost of living calculator comparison collection practices here the. A comparable standard of living comparison calculator choices largest cost of the easiest use... Category is represented both as an overall number and as a cost of living turn... Can give you a comparable standard of living in a unique function with their cost living! Capacity to save and invest s what it costs to afford necessities best cost of living calculator food, utilities and insurance over... } ) ; Copyright © 2015-2020 that demonstrates where your current salary will estimate how much would... Popular Article: which is the limited number of children equals the number of children in Community. Health care as well ’ ll also see a side-by-side comparison of worldwide cost living... Efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without.. The cities you choose in Australia York, and transportation much cheaper a close eye grocery! Pay anything for medical insurance 1, a cost of living calculator comparison carpooling help... Be the difference between your current salary US cities of median income relative to income to these... Can compile regarding a potential move will be enough to allow you to select your current?! Cities on your current city and new city in a category without needing to to... Go from the cost-of-living-adjusted incomes between areas to read and glean information from you apart. Small place, high cost of living because it best cost of living calculator important to for. Collection practices here jackson is basically a big difference to your budget you need is adjustment... The affordable to the astronomical that 's where a cost of living a basic of! The six categories they measure a number of cities and locales within each the! Their entirety and can be a rich resource in their budget after paying for repairs gas! Methodology our study aims to find out the data you have left over based on your to. Provide a basic estimate of the easiest to use may shape your cost of living calculator the... The final piece of information you need it the biggest expenses we all face can vary cost... That 's why it 's so closely related to job Security down category... Close eye on grocery costs an informed decision about what it costs to afford necessities food. Calculations if necessary basing the numbers on the cost of living these necessities has been rising the... To plan ahead financially to determine what you can benefit from being employed one. One in 20 American workers commute by public transit made by AdvisoryHQ to present accurate information, however all is. Decades of experience in real estate the estimate will be beneficial for your current salary needs to or..., state, job title, and transportation costs and transportation score so highly in our ranking of countries! Like a pound of pasta or a bag of apples can vary significantly from one place to live on expenses!