Cost of Living Estimator
Compare expenses, taxes, and relocation costs between two cities.
Locations
Income & Tax
Monthly Expenses
Moving Costs
0.0%
vs currentExpense Comparison
Relocation Analysis
Required Income
To maintain your current savings rate in London, UK, you need a gross monthly income of:
Explore More Financial Tools
The True Cost of Relocation
Moving to a new city is exciting, but financial surprises can turn that dream relocation into a struggle. Rent is just the tip of the iceberg. True salary equivalence depends on taxes, transportation, childcare, and lifestyle costs. Earning $100,000 in Austin is basically earning $50,000 in Manhattan. This estimator helps you look beyond the sticker price of rent to see the real bottom line.
The "Big 4" Expense Shifters
1. Housing
The biggest variable. A 1-bedroom apartment can range from $800 (midwest) to $3,500 (coastal). Rule of Thumb: Don't spend more than 30% of your gross income on rent/mortgage.
2. Taxes
Often overlooked. Moving from Florida (0% state tax) to California (up to 13.3%) is an effective pay cut. Property taxes also vary wildly (TX/NJ are high; HI/CO are low).
3. Transportation
In NYC/DC, you might ditch your car (saving $600/mo on insurance/gas). In LA/Houston, a car is mandatory and gas prices fluctuate by state taxes ($3 vs $5/gal).
4. Food & Lifestyle
A gallon of milk is generally consistent, but dining out is not. A dinner for two can cost $40 in Ohio vs $120 in Miami for similar quality.
The Hidden Costs of Moving
Budget at least $5,000 - $10,000 cash upfront for the move itself:
- Moving Truck/Movers: $2,000 - $6,000 depending on distance.
- Lease Breakage: Often 2 months' rent if leaving early.
- Security Deposits: First + Last month's rent upfront ($4k-$6k).
- Restocking: Buying new furniture, condiments, and cleaning supplies adds up fast.
5-Step Relocation Checklist
1. Calculate "Take-Home" Pay
Use a paycheck calculator for the NEW state to see actual post-tax income.
2. Check Zillow/Apartments.com
Verify real rental listings. Don't rely on generic "average rent" stats which lag by months.
3. Visit Before You Move
Spend a weekend living like a local (grocery store, commute route), not a tourist.
4. Audit Your Furniture
Is it cheaper to ship your old couch ($500) or buy a new one? Often, selling and buying new is cheaper.
5. Secure the Job First
Landlords often require proof of income (offer letter) of 3x the monthly rent.
Frequently Asked Questions
What is 'Salary Equivalence'?
Salary equivalence answers the question: 'How much do I need to earn in City B to maintain the same lifestyle I have in City A?' For example, earning $100,000 in Austin, TX might require $180,000 in San Francisco, CA to afford the same standard of housing and savings.
What are the biggest factors in cost of living differences?
Housing (rent/mortgage) is usually the single biggest factor, varying by 300%+ between cities. Taxes (state income tax, property tax) are second. Childcare and transportation follow. Groceries and utilities tend to vary less across the US.
Does this include moving costs?
This calculator focuses on ongoing monthly expenses. However, we list 'Hidden Relocation Costs' like moving trucks ($1k-$5k), lease breaking fees, security deposits, and vehicle registration which are one-time expenses you must budget for separately.
Is a lower cost of living always better?
Not always. Cheaper cities often come with lower salaries, fewer career opportunities, or higher transportation costs due to lack of public transit. The goal is to maximize your 'Discretionary Income' (Income - Expenses), not just minimize expenses.
How does State Income Tax affect the comparison?
States like Texas, Florida, and Nevada have 0% state income tax, while California and New York can take 5-13% of your paycheck. Moving from a high-tax to a no-tax state is an instant 5-10% raise, even if your gross salary stays the same.
Should I rent or buy immediately after moving?
Most experts recommend renting for 6-12 months first. This gives you time to learn the neighborhoods, traffic patterns, and school districts before committing to a mortgage. It also reduces the stress of buying while coordinating a move.