If it feels like the cost of everything has gone up in recent years, it probably has.
And that's apparently more true in Washington state than most of the country. According to the Washington Roundtable, a group of executives from in-state private companies, Washington:
"Washington ranks 5th most expensive in the U.S., trailing only California, Washington, D.C., New Jersey, and Hawaii. Even more concerning, Washington’s cost of living has increased faster than any other state over the past decade."
The report paints a tough picture when it comes to affordability in the state, but also adds evidence that the Tri-Cities is one of the most affordable places to live in Washington. Take a look at this chart:
What you're seeing there is this: Of the Washington metro areas that have a higher cost of living than the national average (in red), all but two are on the west side of the state. Spokane and Wenatchee are the exceptions.
Meanwhile, as we recently found in our research on the cost of living in the Tri-Cities, it's less expensive to live here compared to the U.S. average.
Based on data from the Composite Cost of Living Index, the Tri-Cities scores a 95.9 overall cost of living, making it about 4% less expensive than the national average (which is a 100 index). In terms of housing, specifically, both renters and homeowners should spend a couple hundred dollars per month to live here than the national average.
"Affordability" can be a relative term because we all live different lifestyles and have different priorities. But this supports the idea that, when it comes to cost of living, the Tri-Cities is one of the most affordable places to live in Washington.
-Cari
