F
40%
Overall NAT. AVG.
19%
Goods & Services NAT. AVG.
98%
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 Lake Stevens Washington National
Cost of living140118100
Goods & Services119111100
Groceries112110100
Health care118120100
Housing198135100
Transportation122123100
Utilities9592100

An Overview of Cost of Living in Lake Stevens, WA

Understanding the cost of living in Lake Stevens can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Lake Stevens cost of living index is 140, which is 40% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

If you prioritize affordability when seeking a new place to live, Lake Stevens 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, Lake Stevens falls into this category, which may not align with your preferences for a budget-friendly living environment.

Housing costs make up a big chunk of the cost of living in Lake Stevens, 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 98.3% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Recurring essentials like haircuts, toothpaste, and entertainment, from movies to gym sessions, can really add up in your budget and make up 33% of the cost of living index. In Lake Stevens, you you will have to spend 18.7% more than average when compared to the typical prices for these items, making it a more expensive place to live.

The surge in grocery costs is indeed alarming, especially when groceries make up a large portion of your monthly expenditures. Over the past two years, there has been an inflation of over 10% in grocery prices. Unfortunately, Lake Stevens does not fare better, with grocery expenses coming in at 12.4% higher than the national average.

What Do Locals Say About the Cost of Living in Lake Stevens?

The most insightful perspective on a city comes from its residents. We recently surveyed 10 locals to gauge their perception of the cost of living in Lake Stevens. The feedback revealed that 30% of respondents found the cost of living to be reasonable, with prices on the decline, while 70% regarded it as notably expensive with prices that continue to rise.

Is Lake Stevens Affordable?

Is Lake Stevens 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 Lake Stevens, the median home price is 108.1% higher than what most folks pay across the country, and monthly rent prices are 75.2% higher than the usual rates. Income levels in Lake Stevens come in at $93,087, which is 68.3% higher than the national average.

What Factors can Influence the Cost of Living in Lake Stevens?

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Lake Stevens, the transportation index is 21.8% higher than the national average.

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Lake Stevens, the prevailing sales tax rate starts at 6.5%, and income tax rates kick off at 0%.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Lake Stevens, the housing index is 98.3% higher than the national average.

Where is the Data From?

The Lake Stevens 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. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Lake Stevens is 18% higher than the Washington average
  • The cost of living in Lake Stevens is 40% higher than the national average
  • Lake Stevens housing is 98% 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 Lake Stevens

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Compare Lake Stevens, 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$103,362$8,614$2,412$3,101
      Renters$60,859$5,072$1,420$1,826
      The affordability of the housing market in Lake Stevens, WA as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Lake Stevens homeowners, the median income is $103,362. This indicates that a monthly maximum of $2,412 should be spent by homeowners on all housing related costs. Renters have a median income of $60,859. This indicates that renters would have a maximum of $1,420 for their rent related monthly costs.

      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 Lake Stevens National avg. Difference
      Haircut $31.33$24.2629.1%
      Beauty Salon $49.67$45.569.0%
      Toothpaste $3.89$3.705.1%
      Shampoo $1.21$1.285.8%
      Movie $12.43$12.132.4%
      Bowling $18.08$18.000.5%

      Groceries

      Item Lake Stevens National avg. Difference
      Ground Beef $6.18$5.845.9%
      Fried Chicken $2.23$1.5742.0%
      Milk $4.87$4.674.2%
      Potatoes $4.43$4.9310.2%
      Pizza $13.35$12.0910.4%
      Beer $11.13$10.416.9%

      Health Care

      Item Lake Stevens National avg. Difference
      Optometrist $132.73$125.685.6%
      Doctor $183.40$135.7835.1%
      Dentist $146.29$113.2929.1%
      Ibuprofen $11.37$10.656.7%
      Lipitor $508.19$468.608.4%

      Housing

      Item Lake Stevens National avg. Difference
      Home Price $384,400.00$184,700.00108.1%
      Avg. Mortgage Payment $3,228.87$2,346.6937.6%
      Apartment Rent $1,663.00$949.0075.2%

      Transportation

      Item Lake Stevens National avg. Difference
      Gasoline $4.14$3.4619.7%
      Tire Balancing $65.57$59.929.4%

      Utilities

      Item Lake Stevens National avg. Difference
      All Electricity $163.64$193.9915.6%
      Phone $200.10$192.254.1%
      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.
      Hat Island, WA6111414.5%
      Silvana, WA1411010.5%
      Canyon Creek, WA3,21812423.6%
      Sultan, WA5,33012625.6%
      Granite Falls, WA3,96112625.9%
      Lake Stevens, WA33,47014039.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Saint-Georges, QC33,468n/a 
      Long Beach, NY33,47516665.5%
      Fairborn, OH33,456927.9%
      Estero, FL33,45012626.2%
      Woodridge, IL33,44311616.1%
      Lake Stevens, WA33,47014039.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.