Seattle has 9th-highest cost of living in U.S., study finds
What’s happening: The Council for Community and Economic Research ranks Seattle 9th out of 269 U.S. urban areas in the third-quarter cost-of-living index for 2023.
Why it matters: The lack of affordable housing in Seattle, coupled with high costs for food, healthcare, and other services, is burdening the city’s residents. The city’s high cost of living largely arises from these factors.
Details: The cost-of-living index reveals higher living costs in cities such as Honolulu, San Jose, San Francisco, Brooklyn, Orange County, and Boston compared to Seattle, but lower in San Diego, Queens, Washington D.C., and Oakland. Seattle’s values are also contrasted with those of Manhattan and Los Angeles.
Yes, but: While the cost of groceries and transportation in Seattle competes with other major cities like Manhattan, Brooklyn, and LA, housing index costs in Seattle are notably high. Yet, Seattle’s utility costs fall below the average.
Plus: Kent and Everett, two other prominent cities situated in the Puget Sound region, also showcase high cost-of-living rankings according to the report.
Of note: The analysis uses a method that considers the expenditure of professional and managerial households in the top income quintile. It’s important to remember that the cost-of-living index doesn’t precisely mirror inflation rates.
The bottom line: Many residents of Seattle are feeling the pinch due to the rising cost of living.
