Question 1

What is a cost of living index?

Accepted Answer

A cost of living index measures the relative price levels for consumer goods and services across different areas. The national average is set at 100. A city with an index of 120 is 20% more expensive than average, while one at 85 is 15% cheaper.

Question 2

How is cost of living calculated?

Accepted Answer

Cost of living is calculated by comparing prices of a standardized basket of goods and services across locations. This includes housing, groceries, utilities, transportation, healthcare, and miscellaneous expenses, weighted by typical household spending patterns.

Question 3

How much does it cost to live in the US per month?

Accepted Answer

The average monthly cost of living in the US is approximately $3,200-$4,500 for a single person, depending on location. This includes housing ($1,200-$2,500), food ($300-$500), transportation ($100-$200), utilities ($100-$200), and healthcare ($300-$500).

Question 4

What is the best state to retire in?

Accepted Answer

The best states for retirement depend on your priorities. Florida offers no income tax and warm weather. Arizona provides dry climate and low costs. South Carolina combines affordability with coastal living. Pennsylvania has favorable tax treatment of retirement income.

Question 5

Should I rent or buy a home?

Accepted Answer

The rent vs. buy decision depends on location, how long you plan to stay, and current interest rates. Generally, buying is favorable if you plan to stay 5+ years in an affordable market. In expensive metros, renting often makes more financial sense.

Question 6

What is a good salary to live comfortably in the US?

Accepted Answer

A 'comfortable' salary varies enormously by location. In affordable cities like Memphis or Oklahoma City, $50,000-$60,000 provides a comfortable life. In expensive metros like San Francisco or New York, you may need $100,000-$150,000+ for a similar lifestyle.

Best Places to Retire in America

Naples

Sarasota

Myrtle Beach

Scottsdale

Pensacola

Cape Coral

Tucson

Charleston

Phoenix

Asheville

Greenville

Savannah

Virginia Beach

Tampa

Las Vegas

Knoxville

Madison

Jacksonville

Huntsville

Columbia

Albuquerque

Colorado Springs

Mobile

Orlando

Tulsa

Explore Retirement Options

Frequently Asked Questions

Try Our Cost of Living Calculator