F
86%
Overall NAT. AVG.
13%
Goods & Services NAT. AVG.
256%
Housing NAT. AVG.
Search Homes for Sale
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 Newcastle Washington National
Cost of living186118100
Goods & Services113111100
Groceries116110100
Health care115120100
Housing356135100
Transportation125123100
Utilities9792100

An Overview of Cost of Living in Newcastle, WA

Understanding the cost of living in Newcastle can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Newcastle cost of living index is 186, which is 86% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

The cost of living in Newcastle is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Newcastle falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs significantly influence the Newcastle 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 255.6%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Goods and services make up 33% of the total cost of living index score and are a large part of your everyday expenses. These items could include things like haircuts, salons, toothpaste, shampoo, clothes, movies, bowling, gym memberships or yoga. In Newcastle, you can expect to pay 13% more than average for these items, making it a more expensive place to live.

Groceries are getting more expensive by the day and the cost of groceries makes up 13% of the overall cost of living index. In the past two years, prices have shot up by over 10%! Unfortunately, in Newcastle, it's the same story – grocery costs are 16% higher than what people pay across the country.

Is Newcastle Affordable?

Is Newcastle 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 Newcastle is 322.4% higher than the national average, while the average monthly rent prices are 99.7% higher than average. The affordability of any location can also be influenced by median income levels. Newcastle has a median household income of $155,933, which is 181.9% higher than the national average.

What Factors can Influence the Cost of Living in Newcastle?

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Newcastle, the transportation index is 25.2% higher than the national average.

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Newcastle, healthcare costs are 15.4% 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 Newcastle, the prevailing sales tax rate starts at 6.5%, and income tax rates kick off at 0%.

Where is the Data From?

The Newcastle 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

New Real Estate Listings in Newcastle Area
Search Homes for Sale in Newcastle, WA

Cost Of Living Quick Facts

  • The cost of living in Newcastle is 58% higher than the Washington average
  • The cost of living in Newcastle is 86% higher than the national average
  • Newcastle housing is 256% 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 Newcastle

See all the best places to live around Newcastle

Compare Newcastle, WA Cost of Living

      vs
      How would you rate the cost of living in Newcastle?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Newcastle?
      Write a review to give others more information about this area.
      See all Newcastle poll results

      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$198,021$16,502$4,620$5,941
      Renters$85,883$7,157$2,004$2,577
      A good indicator of the general affordability of housing in Newcastle, WA, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Newcastle, the median monthly income is $198,021 for those who own their own homes. Under the standard rule, that income level would allow for $4,620 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $85,883, per the median income in the area. That would allow for renters to spend up to $2,004 on monthly rental expenses.

      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 Newcastle National avg. Difference
      Haircut $32.12$24.2632.4%
      Beauty Salon $43.48$45.564.6%
      Toothpaste $3.46$3.706.6%
      Shampoo $1.24$1.283.4%
      Movie $11.87$12.132.2%
      Bowling $17.56$18.002.5%

      Groceries

      Item Newcastle National avg. Difference
      Ground Beef $5.66$5.843.0%
      Fried Chicken $2.78$1.5776.8%
      Milk $4.85$4.673.7%
      Potatoes $4.43$4.9310.3%
      Pizza $14.86$12.0922.9%
      Beer $11.77$10.4113.1%

      Health Care

      Item Newcastle National avg. Difference
      Optometrist $242.14$125.6892.7%
      Doctor $139.77$135.782.9%
      Dentist $164.30$113.2945.0%
      Ibuprofen $11.87$10.6511.4%
      Lipitor $448.83$468.604.2%

      Housing

      Item Newcastle National avg. Difference
      Home Price $780,100.00$184,700.00322.4%
      Avg. Mortgage Payment $2,843.91$2,346.6921.2%
      Apartment Rent $1,895.00$949.0099.7%

      Transportation

      Item Newcastle National avg. Difference
      Gasoline $4.39$3.4626.9%
      Tire Balancing $77.69$59.9229.7%

      Utilities

      Item Newcastle National avg. Difference
      All Electricity $175.38$193.999.6%
      Phone $207.11$192.257.7%
      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.
      Fairwood CDP (Spokane County), WA8,05511413.7%
      Tukwila, WA20,26512827.8%
      SeaTac, WA29,10213130.5%
      Boulevard Park, WA4,19713939.3%
      Des Moines, WA31,98313535.5%
      Newcastle, WA12,07818685.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Shady Hills, FL12,078945.5%
      Haverstraw, NY12,07612322.7%
      Riverview, MI12,085963.7%
      Port Salerno, FL12,0701088.1%
      Overlea, MD12,0631098.5%
      Newcastle, WA12,07818685.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.