D
25%
Overall NAT. AVG.
13%
Goods & Services NAT. AVG.
53%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Lacey Washington National
Cost of living125118100
Goods & Services113111100
Groceries109110100
Health care123120100
Housing153135100
Transportation128123100
Utilities9792100

An Overview of Cost of Living in Lacey, WA

Getting a feel for the cost of living in Lacey is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Lacey is 125, which is 25% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Lacey is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Lacey falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs make up a big chunk of the cost of living in Lacey, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 53.4% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Recurring essentials like haircuts, toothpaste, and entertainment, from movies to gym sessions, can really add up in your budget and make up 33% of the cost of living index. In Lacey, you you will have to spend 13.1% more than average when compared to the typical prices for these items, making it a more expensive place to live.

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

The most insightful perspective on a city comes from its residents. We recently surveyed 8 locals to gauge their perception of the cost of living in Lacey. The feedback revealed that 25% of respondents found the cost of living to be reasonable, with prices on the decline, while 75% regarded it as notably expensive with prices that continue to rise.

Is Lacey Affordable?

Is Lacey affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Lacey, for instance, where the median home price falls 55% higher than the national average, and monthly rent rates are 49.7% higher than usual. Additionally, median income levels contribute to the equation, with Lacey flaunting a median household income of $69,752, 26.1% higher than the national norm.

What Factors can Influence the Cost of Living in Lacey?

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Lacey, healthcare costs are 23.4% higher than the national average.

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Lacey, the prevailing sales tax rate starts at 6.5%, and income tax rates kick off at 0%.

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Where is the Data From?

The cost of living in Lacey, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Lacey is 6% higher than the Washington average
  • The cost of living in Lacey is 25% higher than the national average
  • Lacey housing is 53% higher than the national average
  • Washington general sales tax is 27% higher than the national average
  • Washington state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Lacey

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Compare Lacey, WA Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$87,752$7,313$2,047$2,633
      Renters$52,198$4,350$1,218$1,566
      The affordability of the housing market in Lacey, WA as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Lacey homeowners, the median income is $87,752. This indicates that a monthly maximum of $2,047 should be spent by homeowners on all housing related costs. Renters have a median income of $52,198. This indicates that renters would have a maximum of $1,218 for their rent related monthly costs.

      Washington Sales Tax

      State General Sales Tax With Max Surtax
      Washington 6.5% 10.4%

      Washington Income Tax

      State Income Tax (Low) Income Tax (High)
      Washington 0% 0%

      Goods & Services

      Item Lacey National avg. Difference
      Haircut $24.33$24.260.3%
      Beauty Salon $30.83$45.5632.3%
      Toothpaste $3.47$3.706.2%
      Shampoo $1.21$1.285.5%
      Movie $10.25$12.1315.5%
      Bowling $13.08$18.0027.3%

      Groceries

      Item Lacey National avg. Difference
      Ground Beef $5.83$5.840.1%
      Fried Chicken $2.44$1.5755.1%
      Milk $4.86$4.674.1%
      Potatoes $4.15$4.9316.0%
      Pizza $14.32$12.0918.5%
      Beer $11.62$10.4111.6%

      Health Care

      Item Lacey National avg. Difference
      Optometrist $155.39$125.6823.6%
      Doctor $188.50$135.7838.8%
      Dentist $117.89$113.294.1%
      Ibuprofen $11.97$10.6512.4%
      Lipitor $517.22$468.6010.4%

      Housing

      Item Lacey National avg. Difference
      Home Price $286,200.00$184,700.0055.0%
      Avg. Mortgage Payment $2,126.92$2,346.699.4%
      Apartment Rent $1,421.00$949.0049.7%

      Transportation

      Item Lacey National avg. Difference
      Gasoline $4.37$3.4626.2%
      Tire Balancing $69.72$59.9216.4%

      Utilities

      Item Lacey National avg. Difference
      All Electricity $126.20$193.9934.9%
      Phone $189.62$192.251.4%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Ketron Island, WA011514.6%
      North Yelm, WA3,7381098.8%
      Shelton, WA10,4671109.6%
      Tenino, WA1,7441109.9%
      Nisqually Indian Community, WA59111514.6%
      Lacey, WA50,82712524.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Smyrna, TN50,8201021.7%
      Haldimand County, ON50,912n/a 
      Madison, AL50,7171088.1%
      Catalina Foothills, AZ50,63113636.1%
      Collierville, TN50,59611616.0%
      Lacey, WA50,82712524.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.