Planning to move somewhere new? You can figure out how prices compare and what income you need to keep your standard of living.
NerdWallet has a new tool, a cost of living calculator, that can tell you how prices differ between two big cities. Here are the costs they compare…
- Housing: median 2-bedroom apartment rent and 3-bedroom home prices
- Transportation: gas costs and monthly bus pass prices
- Food: costs of various grocery items
- Entertainment: the price of a movie ticket, bowling game and 6-pack of beer
Plug in two cities and an income and you’ll get a quick breakdown. I tried Fort Lauderdale and Brooklyn, and at a glance could see housing costs 165 percent more, food 18 percent more, entertainment 9 percent more, and transportation 4 percent less in Brooklyn. Each area had specific dollar figures for all the items mentioned above and tells you how much you need to make to maintain the standard of living for the income you gave , too.
That covers more than 300 cities, while the also new city tool for now covers a much smaller group of 25 but gives much more detailed information about those cities, including demographics, school information, and quality of life data like commute time and crime levels.