An Overview of Cost of Living in Hazel Dell, WA
Knowing the cost of living in Hazel Dell allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Hazel Dell stands at 123, marking it 23% higher than the national average.
If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Hazel Dell is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Hazel Dell falls into this category, which may not align with your goal of finding a budget-friendly living environment.
Housing costs are a very significant part of the Hazel Dell cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 57.5% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.
Is Hazel Dell Affordable?
Is Hazel Dell an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Hazel Dell is 67.9% higher than the national average, while the average monthly rent prices are 33.1% higher than average. The affordability of any location can also be influenced by median income levels. Hazel Dell has a median household income of $96,312, which is 18.4% higher than the national average.
What Factors can Influence the Cost of Living in Hazel Dell?
Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Hazel Dell, the housing index stands at 57.5% higher than the national average.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Hazel Dell, the transportation index is 25.8% higher 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 Hazel Dell, the healthcare costs are 17.8% higher than the national average.
Where is the Data From?
The cost of living data in Hazel Dell displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.