If you're a retiree looking for a change of scenery, or you've been offered a job in another city, you may want to consider more than just the cost of housing. Prices for groceries, utilities, health care and other necessities can also vary significantly.
For example, the average cost of a doctor's appointment in Rockford, Ill., is $139, compared with $75 in Bloomington, Ind., according to the Council for Community and Economic Research's cost of living index, or COLI. The general rule of thumb is that you should spend no more than 50% of your budget on necessities such as housing, food and transportation. But relocating to a high-cost area may make this guideline unworkable.
The table below shows what you would pay for commonly used products and services in four cities that made the list of 20 finalists for Amazon's second headquarters—which is expected to add 50,000 jobs. We added Orlando because that area is attractive to retirees.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
You can find a COLI calculator at www.payscale.com/cost-of-living-calculator.
-
What's Next for MicroStrategy Stock as Bitcoin Nears $100K?MicroStrategy stock is up more than fivefold in 2024 thanks to a furious rally in bitcoin. Here's what you need to know.
-
BJ's Wholesale Pops on Membership Fee Hike, Stock BuybacksBJ's stock is rallying Thursday after the warehouse club raised its membership fee for the first time in seven years and unveiled a big stock buyback program. Here's what you need to know.
-
Roth IRA Contribution Limits for 2024 and 2025Roth IRAs Roth IRA contribution limits have gone up. Here's what you need to know.
-
How to Find Foreclosed Homes: Best Foreclosure Listings SitesMaking Your Money Last Find foreclosed homes for sale on these foreclosure listing websites. Search for properties on these free, paid or government sites.
-
Luxury Home Prices Rise as the Rich Dodge High Mortgage RatesLuxury home prices rose 9% to the highest third-quarter level on record, Redfin reports, growing nearly three times faster than non-luxury prices.
-
Four Tips for Renting Out Your Home on Airbnbreal estate Here's what you should know before listing your home on Airbnb.
-
Five Ways to a Cheap Last-Minute VacationTravel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
-
How to Figure Out How Much Life Insurance You Needinsurance Instead of relying on rules of thumb, you’re better off taking a systematic approach to figuring your life insurance needs.
-
Amazon Big Deal Days Is Coming! We’ve Got All the DetailsAmazon Prime To kick off the holiday season with a bang, Amazon Big Deal Days runs Tuesday, October 8 and Wednesday, October 9.
-
How to Shop for Life Insurance in 3 Easy Stepsinsurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
