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How does Seattle's cost of living compare nationwide?
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Moving to a new city is a road paved with major
financial decisions. // © Stephen Finn - Fotolia.com
There's been a lot of reports lately about how Americans are staying in one place, rather than moving to new cities in search of opportunity.
Aside from the fact that jobs are scarce, moving to a new city means thinking about expensive relocation costs and cost of living changes that could either save you a bundle or burn through your savings.
It can be hard to comprehend cost of living without having spent much time in a city. But tools like the Cost of Living Comparison Calculator can help put things in perspective. (Many sites have tools like this, including Salary.com and CNN Money, so look for one that matches your needs).
So how does Seattle measure up? Well, here's how much you'd need to earn in other cities to maintain a standard of living based on a $50,000 salary in Seattle:
New York City: $89,233
San Francisco: $69,238
Los Angeles: $59,996
Washington, DC: $56,065
Miami: $46,952
Minneapolis: $44,796
Chicago: $44,758
Atlanta: $38,933
But I would say take these salary figures with a grain of salt. While they're a useful starting point, they don't tell the whole story. For example, even though Seattle and Washington, D.C. have comparable cost of living figures in most categories, when it comes to housing, D.C. can be up to 43% more expensive. So if home ownership is important to you, that's a figure you'll want to take into consideration.
Also, remember that moving to a cheaper city can often come with sacrifices in terms of culture. Do your homework, and make sure you understand the trade-offs. Moving to a new city can be exciting and full of surprises -- let's just make sure they're good ones.
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