Compare the cost of living in Seattle, WA vs. New York (Manhattan), NY and see how far your salary will go to maintain your standard of living. Once you understand what they cover, they'll look less overwhelming. We believe everyone should be able to make financial decisions with confidence. Disclaimer. Comparison Highlights. And it adds up. : - 37.27% Accomodation Cost This is higher than Los Angeles which has the 18th highest cost of living in the United States, coming in at 78.91 on the index. Personal finance 101 suggests that spending over 30 percent of your income on housing . Cost of Living Comparison between Seattle, WA vs New York, NY Private school data was obtained from the Department of Education, and average private tuition was compiled by averaging tuition across randomly selected schools in each city. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. You should factor this commuting time into your overall, The cost of a monthly transit pass in New York, NY is around $116.50. Transportation: Unless youre lucky enough to work from home, you will need to factor in transportation costs when deciding where to live. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Quality of life data (gyms, bars and beauty salons per 1,000 residents) were collected from the Yellow Pages. What Is The Cost Of Living In Seattle vs. Los Angeles? Get matched with a top agent in your area. Factset: FactSet Research Systems Inc. 2018. We help you decide by comparing all the largest . Food: Weekly trips to the grocery store can add up, especially if food costs are high where you live. Seattle, WA Cost Of Living Calculator | Forbes Advisor According to their findings, the median salary is$69,409 in Seattle and $69,026 in New York. How to Get Preapproved for a Mortgage and Why It Matters. Cost of Living Calculator | New York (Manhattan), NY vs. Seattle, WA Since he has 2 children, he needs to have a large apartment. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. This information may be different than what you see when you visit a financial institution, service provider or specific products site. What is the breakdown of the cost of living? Mortgage preapproval is the smartest hack to homebuying and among the most misunderstood. Here's what lenders want before they'll preapprove you for a home loan. Unless youre lucky enough to work from home, you will need to factor in transportation costs when deciding where to live. The estimated average annual cost for child care in Seattle, Washington (based on state average), is $12733. Whether thats a mortgage or rent, a large percentage of your salary will go toward your housing expenses each month. Pre-qualified offers are not binding. of boneless chicken breast, 0.5 l (16 oz) domestic beer in the supermarket, Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area, Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area, Utilities 1 month (heating, electricity, gas ) for 2 people in 85m2 flat, Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area, Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area, Utilities 1 month (heating, electricity, gas ) for 1 person in 45 m2 (480 sqft) studio, Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands), 1 summer dress in a high street store (zara, h&m or similar retailers), 1 pair of sport shoes (nike, adidas, or equivalent brands), Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new, Taxi trip on a business day, basic tariff, 8 km. vs . Above 100 means more expensive.) According to the latest BLS data, consumers average over $7,000 per year on food expenses. One of most important determinations you need to make before moving to a new city or town is how much it will cost to live there. Here is a list of our partners. Proximity to employment is an important consideration because it can drastically impact your cost of living. April 25, 2023 Updated 2:15 p.m. Pre-qualified offers are not binding. Before you get the keys to your new home, you'll have to pay closing costs. What will your monthly mortgage payment be. Coming up with the cash for a down payment is the biggest roadblock for most home buyers. Price collection by city is conducted in strict conformance with standard specifications at specified times. How is this tool different from other resources out there? Proximity to employment is an important consideration because it can drastically impact your cost of living. 2023 Compare Cities Housing: Seattle, WA vs New York, NY This comparison is based on abundant and consistent data. The same type of job in the same type of company in New York, NY will typically pay $63,893 . A cost of living index allows you to directly compare what it costs to live in one area against another, helping you understand how far your money can go in each place. All times are ET. This allows riders to pay for the bus, Link light rail trains, the Sounder train, the Seattle streetcar and the King County water taxi. Items on which the index is based have been carefully chosen to reflect the different categories of consumer expenditures., C2ER was founded in 1961, and continues to exist today as a nonprofit organization, comprising research staff of chambers of commerce, economic development organizations and agencies, and related organizations throughout the United States. C2ER has published its quarterly Cost of Living Index since 1968. The cost to move a 2 to 3 bedroom home will range from $5,262 to $10,566, and a 4-bedroom move or bigger move from Seattle to New York City will cost from $9,903 to $16,374. When evaluating offers, please review the financial institutions Terms and Conditions. Core cost of living data is fromThe Cost of Living Index - COLIfrom the Council for Community and Economic Research. The median rent for a 1-bedroom in both Seattle and New York is higher than Zillows nationwide rent index, which was last recorded at$1,311 per month. To reflect the differences in the cost of living and inflation rates, we show the GDP at purchasing power parity (PPP). Demographics data (including population, age, ethnicity, education and gender breakdown) were compiled from the, Quality of life data (gyms, bars and beauty salons per 1,000 residents) were collected from the Yellow Pages. "Cost of living" is the amount of money you need to sustain a certain lifestyle in a given place. Utilities tend to cost 25.95% higher. Utilizing public transportation could reduce commuting costs in Seattle, Washington. Food: Weekly trips to the grocery store can add up, especially if food costs are high where you live. Price collection by city is conducted in strict conformance with standard specifications at specified times. Comparisons improve with every new data that you enter. Expenses for family in Seattle is cheaper/expensive than New York City, and for bachelor/students its affordable to Seattle Vs New York City. Rent contributes to a large part of the overall, Looks for areas of New York where there is a large student population. Cost of Living Comparison between New York, NY vs Seattle, WA Our partners cannot pay us to guarantee favorable reviews of their products or services. In both Seattle and New York, renters often spend above the affordability threshold. NerdWallet excluded state and local tax data because tax rates vary by state and metropolitan area, and sometimes within metropolitan area as well. Employers in Seattle, WA typically pay -6.1% less than employers in New York, NY. Los Angeles . Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. A full half of the city's . You could be looking at a positive net change in disposable income. Seattle, Washington is considered to have a very good public transport system. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. NerdWallets cost of living calculator is powered by data from The Council for Community and Economic Research (C2ER). That could potentially change the median income in New York, though only time will tell. Meanwhile, the median home price in Los Angeles is $883,400 - 3.8% more than Seattle. Weekly trips to the grocery store can add up, especially if food costs are high where you live. The cost of living in New York, New York is essentially the same as Seattle, Washington. Plan on spending more on gas and auto expenses if you move to New York, resulting in a higher, In New York, the average commute time is about 42.53 minutes. A comparison of the Cost of Living indexes across major US Cities compared to the national average. New York. This means that when it comes to having the most coffee shops, coffee houses and cafes per capita, New York prevails, with Seattle sitting just ahead of Portland and San Francisco. By comparison, 45 percent of New Yorkers spent 35 percent or more of their gross income on rent. Your use of this service is subject to our, Meal for 2 People, Mid-range Restaurant, Three-course, McMeal at McDonalds (or Equivalent Combo Meal), Beef Round (1kg) (or Equivalent Back Leg Red Meat), Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car), Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car), Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment, 1 min. Cost of Living Calculator | PayScale This is the tax that you will pay on things that you buy. New York City, as we know all too well, is suffering from a major public transportation crisis, pushing the average commute time to 14 minutes longer than the nationwide figure. According to the latest BLS data, consumers average over $7,000 per year on food expenses. Private school data was obtained from the Department of Education, and average private tuition was compiled by averaging tuition across randomly selected schools in each city. You could eat out less, cut back on takeout and cook more often. Familiarize yourself with the places where students hang out, and take advantage of discounted or bargain prices, you are sure to be able to keep your. There are lots of ways to reduce food expenses and lower your overall, If you love sports, you will love New York! While renting may often be better than buying in the Seattle area, it isn't necessarily cheap. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. So the values may vary little lower or higher from the actual values. Proximity to employment is an important consideration because it can drastically impact your cost of living. Unless youre lucky enough to work from home, you will need to factor in transportation costs when deciding where to live. The quality of life index is an average of several different indices, including purchasing power, safety, health care, cost of living, property price-to-income ratio, traffic commute time, pollution and climate. All rights reserved. According to the latest BLS data, consumers average over $7,000 per year on food expenses. vs. $2881. New York City vs Seattle - Cost of Living Comparison Morningstar, Inc. All Rights Reserved. Our partners compensate us. All financial products, shopping products and services are presented without warranty. New York City: $2,495. Commuters who live in the northern suburbs and Connecticut can take MetroNorth, which costs between $60 and $500 for a monthly pass, depending on the line and length of the commute. Scientists have long known that dense breast tissue is linked to an increased risk of breast cancer in women. Get your true budget and find a home with ease. The cost of electricity in Washington has gone down by 1.608% in the past year. NerdWallet strives to keep its information accurate and up to date. The short answer is that they are more pro-business. Do you know how much money you will need there to maintain your current standard of living? Entertainment: A movie ticket, a pint of beer, box seats at a baseball game they can all come with a different price tag depending upon where you live. Prices and comparisons for the whole range of expenses: food, housing, going out, etc. Demographics data (including population, age, ethnicity, education and gender breakdown) were compiled from theU.S. Census. Keep in mind that the tickets tend to be expensive, so you need to manage your entertainment budget carefully. Theres also maintenance, upgrades, taxes and fees to take into account when deciding where to live. NerdWallet excluded state and local tax data because tax rates vary by state and metropolitan area, and sometimes within metropolitan area as well. The median rent for a 1-bedroom in both Seattle and New York is higher than Zillow's nationwide rent index, which was last recorded at $1,311 per month. NerdWallet strives to keep its information accurate and up to date. Because the price of goods and services varies from one city to the next, calculating the cost of living will determine how affordable it is to live in a certain area. If you are planning to drive to work, you will be spending a lot of time and gas to get there. Utilizing public transportation could reduce commuting costs in New York. Theres also maintenance, upgrades, taxes and fees to take into account when deciding where to live. Unless youre lucky enough to work from home, you will need to factor in transportation costs when deciding where to live. > Yes, cost of food is important as we all have to eat! This information may be different than what you see when you visit a financial institution, service provider or specific products site. NerdWallet excluded state and local tax data because tax rates vary by state and metropolitan area, and sometimes within metropolitan area as well. New York is rated number one among the best coffee cities in the country according to WalletHub, with Seattle trailing behind at number two. If you can't find a city, you can type the state name to see all cities available in that state. Which is Cheaper: Living in New York or Charleston? SHOCKING RESULTS! # As of 2016, 36 percent of Seattleites spent more than 35 percent of their gross income on rent, according to the U.S. Census Bureau. A movie ticket, a pint of beer, box seats at a baseball game they can all come with a different price tag depending upon where you live. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Youll get more bang for your buck in Seattle. This information may be different than what you see when you visit a financial institution, service provider or specific products site. You should evaluate the options based on your usage and preferences and pick the best fit for your needs. 5 in U.S for public transportation availability. All financial products, shopping products and services are presented without warranty. When evaluating offers, please review the financial institutions Terms and Conditions. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Prices for goods and services in New York City and Seattle are partly crowdsourced by our visitors, just like yourself. , a nationwide ratings system that evaluates schools based on performance on state achievement tests. Cost of Living in Hawaii vs. New York, NY - 2023 Peter Kay 2023-04-27T03:18:27-10:00. Terms of Use and How much more or less will pay for the same or similar job be in the new city? That means the median price per square foot is around $494. Do not sell or share my personal information. Due to the plethora of state taxes, local taxes, jurisdictions and assessment procedures involved in the assessment of income, property and sales taxes, local tax rates cannot be accurately calculated. It's not exactly affordable to rent a 1-bedroom in either city. Due to the plethora of state taxes, local taxes, jurisdictions and assessment procedures involved in the assessment of income, property and sales taxes, local tax rates cannot be accurately calculated. To get the best mortgage loan, know how much you can afford and shop like the bargain hunter you are. Mortgage preapproval is the smartest hack to homebuying and among the most misunderstood. Here's what lenders want before they'll preapprove you for a home loan. Seattle . When evaluating offers, please review the financial institutions Terms and Conditions. In those areas you will be sure to find lots of free or cheap events to go to and plenty of cheap places to eat. Public transit in Seattle, WA will cost you around $99.00 per month. . You may be tempted to unpack everything when you arrive, but make sure you take a break from unpacking to spend time playing and relaxing with your child. At different times of the year you can get local produce for low prices at roadside stands or farmers markets. Seattle, Washington: New York City: Diff: Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area: $3,362 Demographics data (including population, age, ethnicity, education and gender breakdown) were compiled from the, Quality of life data (gyms, bars and beauty salons per 1,000 residents) were collected from the Yellow Pages. Privacy Policy. Cost of Living in Hawaii vs. New York, NY - 2023