You may already have started to research housing prices in Seattle, but before you make a move, it’s also a good idea to get a sense of the overall cost of living, how it squares with your budget and expectations and the Seattle cost of living.
Seattle has earned a reputation as an expensive city, and that perception is not entirely unfounded if you look at the estimated monthly costs to live there. Combining community and economic research, the overall cost of living in Seattle is 50 percent higher than the national average. This figure is certainly worth keeping in mind as you consider your budget, even though the average has gone down by almost a full percent since last year.
This isn’t the whole story, though. Not only that, but other cities in the area also boast a high living index. Looking at the Pacific Northwest, Portland is 27.4 percent above the national average. Down the coast a way, San Francisco is 84.2 percent above.
To understand how cost impacts what the Seattle area has to offer, let’s break down expenses within Emerald City.
- Housing prices
- Food prices
- Utility costs
- Transportation costs
- Healthcare costs
- Goods and services costs
- Tax rates
- How much do you need to earn to live in Seattle?
Seattle housing prices
Overall, the cost of living in Seattle for housing is 111 percent above the national average. Seattle’s housing market is tight. Demand usually exceeds supply, leaving most Seattle residents looking to buy in a pinch. Homes are on the market for an average of 12 days, and average home prices in Seattle are $769,000, down 13.5 percent over last year.
This puts housing affordability in a difficult spot for some, and that’s where rent prices come in. Though monthly rents in Seattle are increasing, they’re not totally out of reach. Stagnant over last year, the average one-bedroom apartment in Seattle costs $2,252 per month.
If you need a lower cost of living or more space, grab a roommate and a two-bedroom apartment. Down 2 percent over last year, the average monthly rent of a two-bed is $3,163.
Monthly costs for those who are apartment-hunting
Thankfully, when it comes to renting, the city offers a variety of neighborhoods so residents choose the right place to live based on price and community. This can mean focusing your search on residential neighborhoods or getting in closer to the city. It’s all about personal preference.
Many residents begin their search in Downtown Seattle, where a studio apartment averages out to $1,437 a month. For a little more room, you can slide just up the hill to the Central District, where monthly one-bed rents are around $2,369.
If you want to save a little more, check out the Lower Queen Anne neighborhood near Seattle Center and the iconic Space Needle. One-bedroom rents in this portion of Queen Anne average out to $2,068 per month.
To make your financial decisions easier, head to Green Lake, a residential neighborhood not far from the University of Washington, where the average one-bedroom is $1,799 per month.
You’ll always find a range of choices depending on the neighborhood and amenities when hunting for a home in the largest city in Washington State, so don’t give up hope.
Seattle food prices
There are plenty of delectable dining options in Seattle, but between restaurant meals, you’ll want to know how much groceries will set you back. Whether shopping at a grocery store or walking the stalls at Pike Place Market, food costs in Seattle are 25 percent higher than the national average. This is actually a decrease of 3 percent over last year, though it’s still the highest in Washington State. Bellingham and Mount Vernon come in next but aren’t that close.
In practice, the money you shell out at the store can vary, but city averages put a gallon of milk at $4.29 and a loaf of bread at $3.80. While you’ll probably want to sample some of the local coffee shops (this is Seattle, after all), brewing your coffee at home can save big as you’ll only pay $6.79, on average, for an 11-ounce package.
Seattle utility prices
Although the rain gets all the attention, Seattle weather is relatively temperate, rarely getting near freezing or hotter than a pleasant 70 degrees.
Most years, you’ll experience just a week or two of freezing weather and a few days in summer when the temperature reaches 90 degrees or above. In addition to being pleasant, this keeps energy bills reasonable.
Overall, utility prices are only 6 percent above the national average. This isn’t too bad when it comes to tallying up all your cost of living expenses in Seattle. Expect to spend about $151 on total energy costs alone per month, but you’ll also have to factor in water, trash and internet.
Seattle transportation prices
The city of Seattle offers many transportation options. Though every Seattleite will tell you that traffic is famously an issue, the city rates well for alternative forms of transportation with a walk score of 99 and a bike score of 71.
For those interested in combining exercise and transportation, there’s a robust bike infrastructure that will get you safely through much of the city. However, you’ll have to contend with hilly terrain.
If you choose transit or want to live a car-free life, a single ORCA card allows you to pay for any regional transit system in King County, giving you access to city buses, the ferry, light rail, the Sounder train that runs between Seattle and other major urban centers and more.
Transportation costs will vary, but one way to save, and get access to multiple forms of transportation at once, is with a regional monthly pass. Prices start at just $18 based on the base-fare rate.
However, if you’re creating a transportation budget, individual fares break down like this:
- $2.25 for a single ride on the Seattle Streetcar (aka the bus)
- $9.45 for a person to ride the Bainbridge Island ferry
- $2.25 to $3.25 for light rail fares
- $3.25 to $5.75 for one way on the Sounder train
Altogether, transportation expenses in Seattle are 23 percent higher than the national average, a dip of 18.1 percent over last year.
Seattle healthcare prices
Seattle is home to multiple excellent hospitals, such as Seattle Children’s Hospital and the University of Washington Medical Center. This makes it easy to maintain your health and find local doctors, as needed.
However, since healthcare needs and expenses vary widely depending on the specific situation of each person, it’s a challenge to calculate a precise healthcare price. In general, your living index when it comes to healthcare in Seattle is almost 30 percent above the national average.
A visit to the doctor will cost you an average of $153 in the city, while over-the-counter medication, such as ibuprofen, will cost you $11.32 for a bottle of 100 tablets.
The cost of goods and services in Seattle
In general, the cost of goods and services in Seattle is 36.3 percent higher than the national average. This is even higher than in San Francisco, where the price is only 24.3 percent above. That means that all the items on your monthly budget that fall into the want, but don’t need, category of your cost of living index, are going to hit you hard.
In specific terms, you can expect to pay an average of $60 for a haircut and $22.40 for dry cleaning.
If you’re a film buff and decide to attend the Seattle International Film Festival or see any recent release in theaters, a movie ticket will cost you $15.50. Going for a pizza before the movie? That will cost you $17.87 for a medium pie. Even heading over to a friend’s house with a six-pack carries the price tag of $7.
When combined with rent, these living expenses and entertainment costs start totaling up fast, but that’s why cities aren’t for everyone and why understanding the cost of living is so important.
Taxes in Seattle
Washington State has no income tax. That keeps your year-end taxes lower, but it does mean the state relies heavily on sales tax to generate revenue. The state sales tax rate is 6.5 percent, but cities have the ability to add to this total.
In Seattle, the sales tax rate is 10.25 percent. This means when you spend $1,000 at all the shops in Melrose Market, $102.50 of your money goes straight to taxes.
There are, however, some key exceptions to what’s eligible for sales tax in Seattle. Most groceries aren’t taxed and neither are prescription drugs.
How much do I need to earn to live in Seattle?
Before beginning the search for the perfect home, it’s a good idea to get a sense of how easily your salary will cover the expenses in the city you’re considering.
Experts recommend spending roughly 30 percent of your income on rent. So, to afford the average one-bedroom apartment in Seattle (which is $2,252) your household income needs to be around $99,628 a year.
With a median household income of $105,391 and a solid job market supported by well-established employers like Amazon and Microsoft, the average salary gets you really close to living comfortably on your own.
To see more specific information about how much rent you can afford based on your salary, you can use this helpful rent calculator.
Living in Seattle
The cost of living in Seattle is certainly well above the national average. Still, it compares favorably to other large West Coast cities like San Francisco and major urban centers like New York City.
People come to Seattle for the natural beauty and opportunities for outdoor adventures, the temperate climate and the laid-back culture. And, although housing costs are a significant factor in a high cost of living, elements like utilities and general goods and services are closer to average. This means you can find your sweet spot here and call this amazing city home.
Methodology
The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of early 2023.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.
