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Mississippi has the lowest cost of living in the U.S., with a cost of living index of 84.8. Included is the average rent for a two-bedroom dwelling and the livable wage in each state. average.įigures in this article are from November 2020. In this case, when comparing the cost of living index of states, 100 represents the U.S. The percentage difference is always compared to 100 therefore, if the cost of living index is 90, it is 10% below the location it is being compared to. The cost of living index provides you with the percentage difference in the cost of living between one location and another. For reference, the median rent for a two-bedroom apartment in the United States is $1,192 per month. A large determining factor for the cost of living index is housing. The cost of living in the United States varies significantly between states. If you're planning on relocating, you'll want to considerd the overall best states to live in too. The cost of living is often used to compare how expensive it is to live in one location compared to another and is also used as a big factor for people to determine where they want to be located in addition to cultural attractions, the job market, and other factors.
#Cost of living in tampa fl calculator free#
For a more detailed housing price index, please try a free demo of the cloud-based Relocation Assessor.The cost of living is defined as the amount of money needed to sustain a certain standard of living by affording basic needs such as housing, food, healthcare, and more.
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The data used to calculate the cost of housing score is a sample of data pulled from ERI Economic Research Institute’s Relocation Assessor. Water and sewer cost estimates are also included. The following are collected for use in determining the cost of housing score: square footage, monthly rent, home prices, and utilities.įor the estimated monthly rent prices, data on average and median rent price per square foot on a 900 square foot (2 bed room), unfurnished higher-quality apartment is collected.Estimated apartment rental prices assume a standard lease (usually 1-year) is signed.The same geographic assumptions and data standards used for home prices are applied to data collection and survey procedures.Utilities are estimated based on costs for common heating/cooling/sources of energy for the location. A cost of housing score of 1 indicates most expensive while a 10 represents cheapest. The cost of housing in Clearwater is equal to the United States average and earns a score of 5 out of 10. For a more detailed transportation price index, please try a free demo of the cloud-based Relocation Assessor. The data used to calculate the cost of transportation score is a sample of data pulled from ERI Economic Research Institute’s Relocation Assessor. Transportation factors also include the yearly total cost of operating automobile(s) and/or equivalent commuter expense for ten miles.The cost of operating an automobile defaults to 20 miles round trip daily, maintenance, taxes and licensing fees, insurance, gasoline costs including taxes, etc.Costs vary according to changes to number of vehicles, combined value and combined prose, and annual mileage/kilometers.Sources include IRS allowed reimbursement policies, local gasoline, insurance, licensing and maintenance/service prices. In major cities, where parking is a substantial cost, estimates are included for parking expenses during regular business hours. A relative cost of airline travel component is also included. The cost of transportation score uses local data on commuting patterns and city dispersion combined with fuel cost factors, public transportation, and efficiency patterns of public transportation in relationship to a transportation price level index. A cost of transportation score of 1 indicates most expensive while a 10 represents cheapest. The cost of transportation in Clearwater is less expensive than the United States average and earns a score of 8 out of 10.