Cost of Living in Gresham, OR

An Overview of Cost of Living in Gresham, OR

The cost of living in Gresham 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 Gresham is 124, which is 24% 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 prioritize affordability when seeking a new place to live, Gresham may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Gresham falls into this category, which may not align with your preferences for a budget-friendly living environment.

Housing costs significantly influence the Gresham cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 59.6%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

The cost of groceries continues to rise at an alarming rate. Over the last two years, grocery prices have increased by more than 10%! Unfortunately, in Gresham, the news isn't any better as grocery prices are 10.5% higher than the national average.

What Do Locals Say About the Cost of Living in Gresham?

Nobody knows their city better than the people who actually live there. So, we asked 6 local residents how they would rate the cost of living in Gresham and this is how they responded. 17% of people said that the cost of living was affordable, with prices decreasing, while 83% of people said that the cost of living was very expensive and prices continue to rise.

Is Gresham Affordable?

Is Gresham 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 Gresham, the median home price is 72.3% higher than what most folks pay across the country, and monthly rent prices are 29.9% higher than the usual rates. Income levels in Gresham come in at $58,250, which is 5.3% higher than the national average.

What Factors can Influence the Cost of Living in Gresham?

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Gresham, the transportation index is 26.3% higher than the national average.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Gresham, the utilities index is 3.8% lower than the national average.

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Gresham, the healthcare costs are 9.6% higher than the national average.

Where is the Data From?

The cost of living in Gresham, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.