Cost of Living in Post Falls, ID

An Overview of Cost of Living in Post Falls, ID

Are you thinking about relocating, but curious about the potential cost of living in Post Falls? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Post Falls stands at 111, making it 11% 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.

When it comes to the cost of living in Post Falls, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 26.5% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

The substantial and relentless rise in grocery prices definitely warrants some attention. Over the past two years, grocery expenses have escalated by more than 10%. Having said that, the situation in Post Falls is even less favorable, with grocery prices here being 10.8% higher than the national average.

What Do Locals Say About the Cost of Living in Post Falls?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 13 locals to understand their opinions on the cost of living in Post Falls. The results indicated that 31% found it reasonably priced with decreasing prices of goods and services, while 69% viewed it as quite expensive, with increasing prices.

Is Post Falls Affordable?

Is Post Falls 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 Post Falls, for instance, where the median home price falls 33.4% higher than the national average, and monthly rent rates are 10.5% higher than usual. Additionally, median income levels contribute to the equation, with Post Falls flaunting a median household income of $62,033, 12.1% higher than the national norm.

What Factors can Influence the Cost of Living in Post Falls?

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety 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 farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Post Falls, the healthcare costs are 11.6% higher than the national average.

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 Post Falls 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.