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Cost Of Living Calculator

Planning a move to another town, city or state? The biggest factors in any move are the standard of living and what salary you’ll need to make in order to reach that standard.

Our cost of living calculator will help you figure out if your move will work for your budget and salary. Ideally, you’ll find that you can afford the cost of living in your new destination, but having that knowledge handy before you move can help set expectations or help you decide to move somewhere else.

Calculate Cost Of Living

My pre-tax household income

My starting city

I want to live in

To maintain your standard of living in San Francisco, CA, you'll need a household income of:

$53,130

The cost of living is 31.75% lower in San Francisco, CA

The total income needed is $16,870 less than your current household income.

Transportation tends to cost 6.03% higher.

Homes tend to cost 39.59% lower.

The cost of living in San Francisco, CA is 31.75% lower than your current city.

Utilities tend to cost 22.97% higher.

Housing Cost

39.59% Lower

The rule of thumb is not to spend more than 30% of your total income on housing. The goal is to pay under 30%, but that may not be achievable in your destination city or town. If you find that the housing costs in your destination city is much higher than where you are now, it would be a good idea to research some nearby locations to find lower rents and mortgage rates.

	Sunnyvale, CA	San Francisco, CA	Change
Home Price	$2,625,443.00	$1,439,185.00	82.43%
Apartment Rent	$4,590.00	$3,830.00	19.84%
Total Energy	$239.06	$298.77	19.99%
Phone Bill	$168.40	$203.63	17.30%

Transportation

6.03% Higher

Whether you’re a commuter via your own vehicle or public transportation, considering factors like the price of gas and monthly cost of taking a train or bus is crucial when budgeting for your move. If you plan to drive to work, also do some research on average traffic in your destination town or city. More traffic means more gas spent.

	Sunnyvale, CA	San Francisco, CA	Change
Gasoline	$4.44	$4.64	4.31%

Healthcare

6.30% Lower

One of the most important aspects to a good quality of life is good healthcare. Some areas have more affordability and availability of healthcare options than others, and depending on your specific needs, you may need to prioritize moving to areas with lower healthcare costs.

	Sunnyvale, CA	San Francisco, CA	Change
Doctor Visit	$180.74	$174.45	3.61%
Dentist Visit	$175.02	$155.36	12.65%
Optometrist Visit	$189.83	$159.79	18.80%
Prescription Drug	$461.46	$498.84	7.49%
Ibuprofen	$12.14	$11.30	7.43%

Miscellaneous Goods and Services

1.56% Lower

Consider the miscellaneous category the catch-all for all other expenses, like the price of groceries, office supplies, clothing, vet services and more. Your lifestyle and what you prioritize will also play into whether a particular destination is suitable for your salary and ideal cost of living.

	Sunnyvale, CA	San Francisco, CA	Change
Whole Milk	$6.82	$5.18	31.66%
	$	$	%
Bread	$5.77	$4.76	21.22%
Coffee	$8.16	$7.74	5.43%
Shampoo	$1.60	$1.65	3.03%

Cost of Living by Major Cities

San Francisco, CA New York (Brooklyn), NY Austin, TX Miami-Dade County, FL Chicago, IL Los Angeles-Long Beach, CA Seattle, WA Boston, MA Charlotte, NC Tampa, FL

What Is “Cost of Living?”

Whether you’re looking for a fresh start on an opposite coast, heading to a new region for work or moving closer to family, cost of living will play a big role in how much house you can afford while maintaining your desired standard of living.

Besides your monthly mortgage payments and other housing costs, being able to afford a home also requires enough money to cover a host of other ongoing expenses, such as food, transportation, taxes, utilities, healthcare, childcare and entertainment.

Not surprisingly, cost of living varies widely from place to place. For instance, it’ll cost you considerably less to live in Fort Smith, Arkansas compared to Fort Lauderdale, Florida.

As you shop for a home in different cities and towns, crunch the numbers using our cost of living calculator to see how your total cost of living expenses vary.

Cost of Living Breakdown

Total annual household expenditures averaged $66,928 in 2021, according to the Bureau of Labor Statistics (BLS). Here are some common categories and general estimated costs to factor in when figuring out where you can afford to live.

1. Housing Cost

The average American household spent roughly $5,577 per month in 2021. Some 33% of that—or approximately $1,885—went toward housing costs.

Housing will likely take the largest bite out of your budget, so you must keep your monthly housing costs within certain limits.

This is where the 28/36 rule comes in, which clarifies how much how you can afford. The 28/36 rule is a common sense guideline that states you should not spend more than 28% of your monthly gross income on housing—either your mortgage payment or rent—and 36% of your monthly gross income on your total debt. Total debt includes your housing debt along with all other forms of debt, such as student loans and auto loans.

2. Transportation

Transportation ranked second in 2021 behind housing for the highest household cost, according to the Bureau of Transportation Statistics. Households spent an average of $10,961—or $913 per month—on transportation expenses. These expenses included public transit and motor vehicle-related costs like auto purchases, parts, fuels, rentals, leases and insurance.

3. Healthcare

Healthcare ate up $5,452 of the average annual household budget in 2021—roughly $454 per month. Health insurance makes up the largest portion of that number. Other costs in the healthcare category include medical services and supplies and drugs.

4. Miscellaneous Goods and Services

The miscellaneous goods and services that factor into a household budget will vary. Some examples include:

Personal care products and services
Appliances
Tobacco products and related supplies
Legal advice
Consulting services
Gym memberships
Computers
Landscaping services
Subscriptions
Education costs
Finance charges

These types of costs may not always be top of mind when putting together a monthly budget, but they’ll inevitably have some impact on your cost of living, so don’t forget to include them.

What Is the Cost of Living Index?

A cost of living index tracks typical living expenses over time for housing, food, healthcare, clothing, entertainment, childcare and other costs across different regions. Although there’s no federally reported cost of living index, organizations such as the Economic Policy Institute and Council for Community and Economic Research provide tools to calculate and compare costs.

Cost of living indexes typically use numerical values when measuring and comparing affordability, often working with either the national average as a benchmark or a base score of 100 for a specific city. When comparing a new location against the base city, the resulting numerical score indicates where the cost of living will likely be higher or lower between the two locations.

Why Should You Do a Cost of Living Comparison?

A cost of living comparison can estimate how far your salary will go based on location. Consequently, comparing expenses between cities or towns offers you more clarity on your home-buying journey by helping you better target more affordable regions that also provide a similar standard of living.

Pro Tip

When comparing cost of living situations, consider drawing up an itemized budget of your current monthly expenses to see how they compare to those in other cities. What are some costs that you don’t currently pay for—such as a subway or bus pass—that you’ll have to account for in the new city?

Frequently Asked Questions (FAQs)

What major factors should I consider before relocating?

Besides cost of living expenses, there are other factors you’ll want to weigh when determining the best fit for you to relocate. Don’t forget to add these factors to your relocation pros and cons list before you pack your bags:

Job opportunities
State and local taxes
Public transportation quality and access
Parking availability
Climate
Public safety
School quality
Grocery store accessibility and dining choices
Entertainment and culture options

How does income influence cost of living decisions?

Income plays a central role in cost of living decisions. After all, your paycheck largely determines how much you can afford to spend every month. For this reason, before buying a home, consider how secure you feel in your job.

Also, inflation is inevitable. So when deciding where to live, determine whether your income level will be able to keep pace with cost of living increases. Your income will also become stretched with childcare costs if you plan on starting or expanding your family, so factor that into your decision-making when investigating where you can afford to live comfortably.

How much should I spend on necessities including housing?

Regarding how much of your income you should apply to what costs, there’s a general principle known as the 50/30/20 budget rule. The guideline advises you to devote 50% of your post-tax income to must-have needs, 30% to wants and 20% to savings. So, housing costs fall into that 50% category.

Other necessities in the 50% “must-have needs” category include groceries, utilities, car payments and healthcare.

Should I rent or buy?

Buying a home is one of the most significant decisions you’ll make. Consequently, whatever the circumstances in the housing market, whether you should rent or buy is a highly individual decision. Each person must take stock of their financial health, lifestyle requirements and future goals.

For instance, if you need to stay in one location for an office job, plan to settle down and start a family or decide you prefer the stability and equity benefits owning a home offers, buying could be the right move if you have enough money to invest in homeownership.

On the other hand, if you need to be location-flexible or don’t have enough funds built up yet for a down payment, renting is probably the better option. However, if buying a home is in your plan, use this time to save by taking on a roommate, renting a cheaper apartment or moving in with family. Also, open a dedicated savings account to earmark money for your down payment.

What is the cost of living increase for 2024?

The Social Security cost-of-living adjustment (COLA)—which aims to counteract inflation—for 2024 is 3.2%. This is down from the 8.7% COLA in 2023. The new COLA will take effect in January 2024.

Your household income will be worth the most in the following cities:

City	State	Composite Index
Statesboro-Bulloch County	Georgia	76.7
Albany	Georgia	77.2
Decatur	Illinois	78
Harlingen	Texas	78.6
Danville	Illinois	78.8
Sioux City	Iowa	79.9
Dodge City	Kansas	80.7
McAllen	Texas	80.9
Youngstown-Warren	Ohio	82.2
Tupelo	Mississippi	82.3

City	State	Composite Index
New York (Manhattan)	New York	226.5
Sunnyvale	California	224.9
Honolulu	Hawaii	181
San Jose	California	175.2
San Francisco	California	170.7
New York (Brooklyn)	New York	161.2
Truckee-Nevada County	California	152.4
Orange County	California	150.9
Los Angeles-Long Beach	California	149.5
Washington-Arlington-Alexandria	District of Columbia Virginia	147.4