Cost of living comparison

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MotoTrojan
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Joined: Wed Feb 01, 2017 8:39 pm

Cost of living comparison

Post by MotoTrojan » Tue Jun 11, 2019 6:45 pm

Any good tools for comparing the cost of living between two regions/cities? Ideally something that breaks down various types of costs (food/dining, homes, etc...). Looking at transferring for work to a lower cost of living area and want to be prepared should they push for a salary adjustment. Homes are far cheaper but I'd like to compare my current situation (renting, mix of eating in/out, etc...). State taxes look like they'll be ~1/2 of what I pay now which is nice. I would likely pay about the same in rent initially (potentially buying longer term) so it would hurt to have less available savings...

Thanks!

7eight9
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Re: Cost of living comparison

Post by 7eight9 » Tue Jun 11, 2019 6:56 pm

Bankrate's Cost of Living calculator might be a good start --- https://www.bankrate.com/calculators/sa ... lator.aspx

It compares prices of quite a few different items.

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6miths
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Re: Cost of living comparison

Post by 6miths » Tue Jun 11, 2019 6:59 pm

Numbeo (https://www.numbeo.com/cost-of-living/comparison.jsp) is a site I have seen mentioned before.
'It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so!' Mark Twain

Topic Author
MotoTrojan
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Re: Cost of living comparison

Post by MotoTrojan » Tue Jun 11, 2019 7:14 pm

Thank you both of these are great! I'll have to come up with some conservative values for different categories but looks like I have some good wiggle-room.

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Watty
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Re: Cost of living comparison

Post by Watty » Tue Jun 11, 2019 7:47 pm

It might cost you a few bucks but you could buy that states tax software and do a dummy tax return to see the actual tax numbers will be.

Many chain restaurants have their menus and prices online for ordering. You can see the differences in prices there, but remember to add in sales tax if you are trying to price what an evening out would be. I did a post a while back that compared the price of an Applebee's menu item.

Be careful about looking at house prices online since it will be hard to know if some house you are looking at is in an undesirable neighborhood.

You need to be cautious about the cost numbers you see on the online resources you see since they may just be averages and costs can vary a lot by which part of town you are looking at.

smitcat
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Re: Cost of living comparison

Post by smitcat » Tue Jun 11, 2019 7:53 pm

Watty wrote:
Tue Jun 11, 2019 7:47 pm
It might cost you a few bucks but you could buy that states tax software and do a dummy tax return to see the actual tax numbers will be.

Many chain restaurants have their menus and prices online for ordering. You can see the differences in prices there, but remember to add in sales tax if you are trying to price what an evening out would be. I did a post a while back that compared the price of an Applebee's menu item.

Be careful about looking at house prices online since it will be hard to know if some house you are looking at is in an undesirable neighborhood.

You need to be cautious about the cost numbers you see on the online resources you see since they may just be averages and costs can vary a lot by which part of town you are looking at.

"It might cost you a few bucks but you could buy that states tax software and do a dummy tax return to see the actual tax numbers will be."
I have used calculators like these and placed the optional location in to get a feel for the variations...
https://smartasset.com/taxes/income-taxes#QmiMWpfbYy

stan1
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Re: Cost of living comparison

Post by stan1 » Tue Jun 11, 2019 8:00 pm

Since it sounds like you might want to present this to your employer I'd go to the Bureau of Labor Statistics website and try to use their data if you can (and if it supports your hypothesis of course). Gives you a little more credibility than a .com site.

Topic Author
MotoTrojan
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Re: Cost of living comparison

Post by MotoTrojan » Tue Jun 11, 2019 8:17 pm

stan1 wrote:
Tue Jun 11, 2019 8:00 pm
Since it sounds like you might want to present this to your employer I'd go to the Bureau of Labor Statistics website and try to use their data if you can (and if it supports your hypothesis of course). Gives you a little more credibility than a .com site.
Thanks, good point! I’m hoping it won’t come to this and I’ll maintain salary but want to be prepared.

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