Cost of Living in Beaverton, OR

An Overview of Cost of Living in Beaverton, OR

Are you thinking about relocating, but curious about the potential cost of living in Beaverton? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Beaverton stands at 135, making it 35% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

If you value affordability in your search for a new place to live, Beaverton may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Beaverton falls into this category, which may not align with your desire for an affordable place to call home.

Housing costs significantly influence the Beaverton cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 96.6%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

The cost of groceries continues to rise at an alarming rate. Over the last two years, grocery prices have increased by more than 10%! Unfortunately, in Beaverton, the news isn't any better as grocery prices are 10.5% higher than the national average.

What Do Locals Say About the Cost of Living in Beaverton?

The most insightful perspective on a city comes from its residents. We recently surveyed 11 locals to gauge their perception of the cost of living in Beaverton. The feedback revealed that 45% of respondents found the cost of living to be reasonable, with prices on the decline, while 55% regarded it as notably expensive with prices that continue to rise.

Is Beaverton Affordable?

Is Beaverton an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Beaverton is 116.8% higher than the national average, while the average monthly rent prices are 49.2% higher than average. The affordability of any location can also be influenced by median income levels. Beaverton has a median household income of $77,745, which is 40.5% higher than the national average.

What Factors can Influence the Cost of Living in Beaverton?

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Beaverton, the groceries index registers 10.5% higher than the national average.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Beaverton, the standard sales tax rate starts at 0%, and the income tax rates commence at 4.75%.

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Where is the Data From?

The Beaverton cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.