View data and read an analysis for more than cities.
Afford the city you want to live in Get free guidance on changes you can make to afford more home, without spending more.
Join NerdWallet Where does the data come from? How is this tool different from other resources out there? Where does the data come from?
Price collection by city is conducted in strict conformance with standard specifications at specified times. Demographics data including population, age, ethnicity, education and gender breakdown were compiled from the U.
Quality of life data gyms, bars and beauty salons per 1, residents were collected from the Yellow Pages. Walkability and public transit scores were obtained from Walk Score. Monthly bus pass costs were obtained from the individual websites of the public transit system for each city.
Education data was provided courtesy of Greatschoolsa nationwide ratings system that evaluates schools based on performance on state achievement tests. 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.
NerdWallet excluded state and local tax data because tax rates vary by state and metropolitan area, and sometimes within metropolitan area as well. 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.
See all How is this tool different from other resources out there? 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. 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.
The expenses that factor into cost of living can include housing affordability, transportation expenses, food prices and entertainment costs. Cost of living is also tied to income, as salary levels in a geographic area are measured against these expenses.
What is the breakdown of the cost of living? According to the U. Bureau of Labor Statistics, the largest bill consumers pay each month is for housing. Home prices, property taxes and monthly rents vary from state to state, city to city, town to town and even neighborhood to neighborhood.
For homeowners, there are more expenses to consider than just the monthly mortgage payment.
According to the BLS, transportation is the second-largest expense consumers have. For some, these costs include taking public transportation. For others, it involves driving your car, and that means factoring in car repairs, gas, tolls and parking. Proximity to employment is an important consideration because it can drastically impact your cost of living.
Weekly trips to the grocery store can add up, especially if food costs are high where you live. There are ways to trim that down.
You could eat out less, cut back on takeout and cook more often. But even then, the price of groceries is going to significantly influence your cost of living. 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.The Economist Intelligence Unit: Welcome to the new Worldwide Cost of Living site from the Economist Intelligence Unit, the world leader in country intelligence.
Use the Worldwide Cost of Living survey to compare cost of living indices in different cities, from New York and London to Tokyo and Shanghai. Living in Miami, Florida. In recent years, Miami, Florida has become an international hub for all types of popular entertainment.
Music, television, film and fashion all have a home in Miami. 1. Data are from 2. Indicates relative price levels for consumer goods and services. The average composite index for the nation is %, and each city's index is .
A cost of living index above means Miami, Florida is more expensive. Miami cost of living is Housing is the biggest factor in the cost of living difference. Kansas City, Mo. Cost of living index in Kansas City: 87 Average cost of living index in suburbs: Overall, it’s more expensive to live in the suburbs of Kansas City than the city itself, and this is likely guided by housing.
Miami, Florida. 49th most expensive city in the world. Ranked 66th most expensive in World Cost of Living Index: