Regional Guide: The Northwest Cost of Living Breakdown
The Northwest region of the United States consists of Washington, Oregon and Wyoming along with Idaho, Montana and Alaska. When it comes to this area of the United States, one of the first things that comes to mind is its unique and beautifully diverse landscape. From snowcapped mountains to meadow valleys, the region has it all. Just as diverse as their landscape, however, is its cost of living. These median figures can vary substantially throughout the region. For instance, in Washington and Oregon, everyday expenses are a little higher than they are in other regions; however, if you decide to live in Pocatello or Cheyenne, then you'll enjoy affordably priced goods and services. Knowing these amounts and what to expect can make a world of difference, especially for those considering a move to the region.
Down below, we’ve put together a compilation of the cost of living expenses one might experience if they decided to move to one of these beautiful states. Read ahead to see what the great Northwest has region offer!
As the 13th most populous state in the nation, Washington offers its well over 7 million residents a very diverse lifestyle. The state's cost of living is higher than the national average and you'll pay a little more for health care and transportation than residents in other states do. The median home value is around $168,300 with the average household income coming in at around $45,775. Renters typically pay around $1,030 a month; however, this figure does tend to vary throughout the state. With cities like Seattle, Spokane and Tacoma, the state is one of the country's most popular places to live. Check out these top leading cities demographics down below.
• The median home price in Seattle is $550,500.
• During the last year, home appreciation has grown in the city by about 12 percent.
• In Seattle, the median rent for a two-bedroom apartment or home is $1,180.
• The average cost is $2,095 for four-bedroom accommodations.
• Seattle's median household income is $63,470.
• In Spokane, the median home price is $185,500.
• During the last year, the city has seen its homes depreciate by around 0.7 percent.
• When it comes to rent, a two-bedroom home or apartment costs $775 on average while a four-bedroom rental is $1,260.
• Spokane's annual household income is $42,275.
• Citizens who live in Tacoma pay $237,200 for a home on average.
• Rent prices range from $1,070 for a two-bedroom space to $1,890 for an apartment or home with four bedrooms.
• In the category of salary, Tacoma's median household income is $50,440.
With 3.9 million residents, Oregon is the 27th largest state in the U.S. The cost of living in Oregon is a little higher than it is in other states. As a resident, you'll pay slightly more for health care than people in other states do. In the category of groceries, Oregon residents pay a little less. People who call the state their home pay around $230,700 for a residence and pay an average $840 a month on rent. Within the state, household income per capita is $26,700, and the median household income comes to $50, 035. Picturesque cities like Portland, Salem and Astoria tend to encourage people to move to Oregon.
• In the city, the median home price is $388,000.
• Prices have increased by 12 percent during the last year.
• For a rental, you'll pay $920 for a two-bedroom home and $1,630 for a four-bedroom residence.
• According to reports, the city's median household salary is $51,240.
• The city's median home value is $215,500.
• For rent, you'll pay $595 for a one-bedroom residence on average.
• In Salem, the median household income comes to $45,565.
• In Astoria, the median home value is $220,200.
• During the past year, homes have appreciated by 1.3 percent.
• The city's rental costs are affordable; you'll pay $765 for a two-bedroom home.
• The average household salary totals $48,000.
Idaho has 1.6 million residents, making it the 39th largest state in the country. Idaho's cost of living is lower than other parts of the country. If you are an Idaho resident, you'll pay less for groceries, utilities and transportation. Within the state, the median home value is $173,900, with an average household income totaling in at around $47,015. The state’s average rent prices range from $690 for a two-bedroom residence to $1,160 for four bedrooms. Those looking into the moving to the great state of Idaho should look into these popular cities, which include Boise, Coeur d'Alene and Pocatello.
• The median home price in Boise is $298,000.
• The city's housing market appreciated by 13 percent during the last year.
• Boise's average price of rent is $650 for a one-bedroom home and $1,200 for a home with three bedrooms.
• In Boise, the average household income is $49,180.
• Coeur d'Alene's median home price is $491,000.
• The city's median rent price is $775.
• Coeur d'Alene households earn $41,065 on average.
• In the city, the median home price is $172,000.
• Pocatello's average rental price is $650.
• The city's household income averages $41,980.
Despite its large amount of land mass, Montana's 1 million residents make the state one of the country's smallest by population. It comes in at number 44. The state's cost of living is slightly higher than average. As a Montana resident, you'll pay more for food and health care. The median home value is $198,400, with the state’s median per-person income coming in at $25,000. For rent, the state’s residents pay around $700 a month on average. Helena, Billings and Butte are just three of the state's popular cities. Check out these leading cities and their demographics down below.
• The median home value in Helena is $282,300.
• Homes appreciated by 4.9 percent over the last year.
• If you decide to rent a two-bedroom residence in the city, you can expect to pay $700 on average.
• Helena's median household salary is $49,445.
• People who make their home in Billings will see a median home value of $280,200.
• The city's housing market has appreciated by 3.4 percent during the last year.
• For a three-bedroom apartment or home in the city, the average cost of rent is $1,000.
• The city's median household income comes to $48,075.
• Butte's median home price is $145,300.
• You can expect to pay $635 to rent a two-bedroom residence.
• Butte's median household salary is $98,015.
With just 584,000 residents, Wyoming is the smallest state in the U.S. by population. The state's cost of living is higher than many other states. Plan to pay more for a home and groceries. The state’s median home price is $204,000, with the average household bringing in around $56,575 a year. If you’re interested in renting a home within the state, you’ll pay around $765 for a two bedroom home and around $1,220 for a four bedroom residence. With cities like Jackson, Cheyenne and Casper, the state's residents can choose to live in beautiful and diverse places. Just as the state’s landscape, real estate figures tend to vary as well throughout the state. See how they compare and differ to the median figures down below.
• The median home price is $1,808,000.
• Rental costs average $990 for two-bedroom accommodations.
• The average rental cost for a home with four bedrooms is $1,515.
• Jackson's median household salary is $53,975.
• The city's median home value is $285,200.
• Cheyenne's average rents run from $580 for a one-bedroom apartment to $1,070 for three bedrooms.
• The city's median household salary is $52,450.
• In Casper, the median home price is $244,900.
• If you intend to rent a residence, plan to pay around $780 for a two-bedroom home or apartment and $1,365 for four bedrooms.
• The city's residents bring home annual salaries of $54,915 per household on average.
The state of Alaska has 736,000 residents who call it home. When comparing Alaska's population to the rest of the country, the state is on the small side, coming in at number 47. When it comes to the state's cost of living, you will pay quite a bit more to reside in Alaska. Houses, groceries and health care cost more in Alaska than they do in most other states. During the past year, the state’s home values have increased by 3.4 percent, with median home values now coming in around $266,500. Those looking to move to Alaska pay around $1,835 a month for rent and tend to have a median per person income of $32,540. A few of the top leading cities include Anchorage, Juneau or Ketchikan. Check out their real estate demographics down below.
• The median cost for a home in Anchorage is $348,900.
• Rental prices are $1,260 for a two-bedroom apartment or home and $1,850 for a three-bedroom residence.
• The city's median household salary totals $76,495.
• Anchorage's per capita income is $36,145.
• In Juneau, the median home price comes to $362,500.
• For a one-bedroom rental, you'll pay $900.
• If you decide to rent a four-bedroom home or apartment, expect to pay around $1,895.
• The city's median household income is $78,950.
• Ketchikan's median home prices come to $279,700.
• During the last year, the city's housing market has appreciated by 2.2 percent.
• In the city, the average rental prices are $965 for two bedrooms and $1,540 for a four-bedroom home or apartment.
• Ketchikan's median household income is $50,700, and its per-capita salary is $27,715.
(Real estate information provided by: Trulia.com and Bestplaces.net)