Cost Living Bellevue Wa
Cost Living Bellevue Wa
When it comes to figuring out how much money you can and should pay to rent an apartment — not to mention how you set your personal budget and what kind of salary you should be asking for at a job — the cost of living is key. Learn about the cost of living in Bellevue, Washington, to find the apartment that's right for you and your lifestyle. When you take into account your budget, the cost of living, and the various amenities available, you might even be pleasantly surprised by what you can afford here!
What does "cost of living" mean?
The cost of living is how much it costs on average to pay for basic expenses like food, healthcare, housing, taxes, and more in a certain location. It can also show you how the basic costs of living in a particular place change over time. A cost of living index is a useful way to compare how much it might cost you on average to live in different places.
The cost of living in a given city or area ties to wages, meaning that salary levels need to be higher in more expensive cities in order for people to afford to live in them. For example, New York City and San Francisco are cities with notoriously high costs of living, and the cost of finding housing in those cities is correspondingly high.
The cost of living tells you a lot about the lifestyle that you can afford to lead based on your salary and overall wealth. Generally, you'll be able to afford a more luxurious lifestyle in a less-expensive city with the same salary as you would in a more expensive city. But in practice, salaries are also tied to the cost of living
How Much Should I Pay for an Apartment?
How much you should spend on your rent compared to your overall budget? There are a few different ways to figure this out. While there's no one-size-fits-all calculation, there are rules of thumb that you can use to calculate approximately how much of your income you should be spending on rent versus other expenses and savings.
The 30% rule is probably the most popular (and easy) way to figure out how much you should spend on rent, but it's not right for everyone. Take your total before-tax monthly income and multiply it by 0.3. So for example, if you earn $5,000 per month, you should be paying about $1,500 per month in rent (or less), according to this tool.
This is a useful first step in estimating your rental budget, but it's probably not the only calculation you should make. Affordability and housing costs can vary by area. If you're able to find an apartment that meets your needs and is a good place to live that's significantly less than your budget, you should still probably take it! On the flip side, only spending 30% of your income may not be feasible when you're looking in a more expensive area, especially when you're just starting out in your career.
If you need to live in an expensive area for work, you can also think about options like finding roommates to lower your monthly rental costs.
How expensive is an apartment in Bellevue, Washington?
The cost of living in Bellevue, Washington, is higher than both the state and national averages. One index calculates the cost of living in Bellevue at 196.5 versus a Washington state average of 118.7 and a national average of 100. This means that it's almost twice as expensive to live in Bellevue as the national average, according to one index.
Another cost of living calculator finds that the cost of living in Bellevue is 64% higher than the national average.
The average rent for apartments in Bellevue is:
- $1,842 for a studio apartment
- $2,026 for a one-bedroom apartment
- $2,470 for a two-bedroom apartment
- $3,554 for a three-bedroom apartment
- $4,196 for a four-bedroom apartment
How do I find cheap apartments in Bellevue, Washington?
The best way to find an affordable apartment in Bellevue, Washington, is by taking your time with the search. Learn about different neighborhoods and buildings, and compare the market price of living in different areas. We recommend using an all-in-one search database like Zumper to find verified properties for rent, compare amenities and prices, and figure out what works best for your budget and your lifestyle. Best of all, you can take virtual tours of rental properties on Zumper and apply online to see if you're approved within 24 hours!
What is the cheapest rent in Bellevue, Washington?
The average rental cost of a studio apartment in Bellevue, Washington, is $1,842. However, whether a rental price is cheap for you will depend on the size of the apartment you need, which area you want to live in, what amenities you want, and what your budget and income will allow.
It's easy to find an affordable apartment in Bellevue, Washington, even though this is a desirable area with higher-than-average rental prices. Now that you know about the cost of living in Bellevue, Washington, check out Zumper to see what's available in Bellevue and take a virtual tour of your next home today.
Source: https://www.zumper.com/blog/cost-of-living-in-bellevue-washington/
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