An Overview of Cost of Living in Eugene, OR
Are you thinking about relocating, but curious about the potential cost of living in Eugene? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Eugene stands at 117, making it 17% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
When it comes to the cost of living in Eugene, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 49.4% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
What Do Locals Say About the Cost of Living in Eugene?
Locals have the inside scoop on their city. So, we polled 44 residents in Eugene to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 39% find it reasonable with decreasing prices, but 61% think it's quite pricey, with prices that continue to rise.
Is Eugene Affordable?
Is Eugene affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Eugene, the median home price is 64.9% higher than the national average and monthly rent prices are 13.3% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Eugene boasting a median household income of $52,689, 4.8% lower than the national average.
What Factors can Influence the Cost of Living in Eugene?
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Eugene, the groceries index is 7% higher than the national average.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Eugene, the baseline sales tax rate begins at 0%, and income tax rates start at 4.75%.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Eugene, healthcare costs are 0.9% higher than the national average.
Where is the Data From?
The Eugene cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.
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