F
52%
Overall NAT. AVG.
17%
Goods & Services NAT. AVG.
140%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Gig Harbor Washington National
Cost of living152118100
Goods & Services117111100
Groceries113110100
Health care125120100
Housing240135100
Transportation124123100
Utilities9592100

An Overview of Cost of Living in Gig Harbor, WA

The cost of living in Gig Harbor affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Gig Harbor is 152, which is 52% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

If you're in pursuit of an economical living environment, Gig Harbor may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Gig Harbor falls within this bracket.

Housing costs make up a big chunk of the cost of living in Gig Harbor, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 140.1% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

The things you purchase regularly, like clothes, haircuts, movie tickets and gym memberships, can make a big dent in your budget and make up 33% of the cost of living index. Unfortunately in Gig Harbor, these items will cost you 17.1% more than what's considered the norm, making it a more expensive place to call home.

Groceries are getting more expensive by the day and the cost of groceries makes up 13% of the overall cost of living index. In the past two years, prices have shot up by over 10%! Unfortunately, in Gig Harbor, it's the same story – grocery costs are 13.1% higher than what people pay across the country.

What Do Locals Say About the Cost of Living in Gig Harbor?

The most insightful perspective on a city comes from its residents. We recently surveyed 6 locals to gauge their perception of the cost of living in Gig Harbor. The feedback revealed that 17% of respondents found the cost of living to be reasonable, with prices on the decline, while 83% regarded it as notably expensive with prices that continue to rise.

Is Gig Harbor Affordable?

Is Gig Harbor an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Gig Harbor, the median home price is 176% higher than what most folks pay across the country, and monthly rent prices are 56.3% higher than the usual rates. Income levels in Gig Harbor come in at $84,861, which is 53.4% higher than the national average.

What Factors can Influence the Cost of Living in Gig Harbor?

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Gig Harbor, the transportation index is 24.2% higher than the national average.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Gig Harbor, the housing index comes in at 140.1% higher than the national average.

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.

Where is the Data From?

The Gig Harbor 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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Cost Of Living Quick Facts

  • The cost of living in Gig Harbor is 29% higher than the Washington average
  • The cost of living in Gig Harbor is 52% higher than the national average
  • Gig Harbor housing is 140% higher than the national average
  • Washington general sales tax is 27% higher than the national average
  • Washington state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Gig Harbor

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Compare Gig Harbor, WA Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$102,069$8,506$2,381$3,062
      Renters$58,095$4,841$1,355$1,743
      To approximate the cost of living and the housing affordability in Gig Harbor, WA, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Gig Harbor have a median income of $102,069. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,381 per month to avoid calamity and poverty. The renters in the city have an income of about $58,095, which would make their monthly maximum allowable rental costs $1,355.

      Washington Sales Tax

      State General Sales Tax With Max Surtax
      Washington 6.5% 10.4%

      Washington Income Tax

      State Income Tax (Low) Income Tax (High)
      Washington 0% 0%

      Goods & Services

      Item Gig Harbor National avg. Difference
      Haircut $23.76$24.262.1%
      Beauty Salon $54.27$45.5619.1%
      Toothpaste $4.15$3.7012.1%
      Shampoo $1.38$1.287.6%
      Movie $11.92$12.131.8%
      Bowling $21.09$18.0017.2%

      Groceries

      Item Gig Harbor National avg. Difference
      Ground Beef $5.71$5.842.2%
      Fried Chicken $2.55$1.5762.3%
      Milk $5.14$4.6710.0%
      Potatoes $3.87$4.9321.6%
      Pizza $15.13$12.0925.2%
      Beer $11.74$10.4112.8%

      Health Care

      Item Gig Harbor National avg. Difference
      Optometrist $191.81$125.6852.6%
      Doctor $192.99$135.7842.1%
      Dentist $127.12$113.2912.2%
      Ibuprofen $11.85$10.6511.2%
      Lipitor $555.70$468.6018.6%

      Housing

      Item Gig Harbor National avg. Difference
      Home Price $509,800.00$184,700.00176.0%
      Avg. Mortgage Payment $3,051.24$2,346.6930.0%
      Apartment Rent $1,483.00$949.0056.3%

      Transportation

      Item Gig Harbor National avg. Difference
      Gasoline $4.20$3.4621.3%
      Tire Balancing $78.74$59.9231.4%

      Utilities

      Item Gig Harbor National avg. Difference
      All Electricity $169.30$193.9912.7%
      Phone $204.78$192.256.5%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Ketron Island, WA011514.6%
      Belfair, WA4,55711312.5%
      Navy Yard City, WA2,97311414.3%
      Midland, WA9,51811817.9%
      Longbranch, WA4,56811717.3%
      Gig Harbor, WA10,28015252.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Pella, IA10,279972.9%
      Troy, IL10,278963.9%
      Bee Ridge, FL10,28311212.5%
      Arden Hills, MN10,27611615.9%
      Jefferson, LA10,286972.7%
      Gig Harbor, WA10,28015252.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.