Moving into retirement, you will have a limited budget and will need to find a location that suits your budget. According to Forbes, the cost of living in Seattle is 23.1 percent above the national average.
Here is a summary outlining all the major expenses in Seattle. This outline can help you look for areas you can save money.
Last year the median home value in Seattle was $624,700, which is an increase of 11.4 percent from the previous year. Zillow predicts the housing market prices in Seattle will continue to grow by 3.8 percent this year. The average rent for an apartment in the city of Seattle is $2,141. One-bedroom apartments average at $1,978 in rent, and two-bedroom apartments average at $2,746 in rent.
An electric bill in Seattle is about 21.5 percent less than the nationwide average. The average monthly electric bill in Seattle is $179 a month. Natural gas prices in Seattle are around 12 percent more than the nation’s average price.
Most groceries in Seattle are about the same price as the nation’s average. Shoppers will pay around $4.37 for bread, $2.05 for a dozen eggs, $2.25 for a gallon of milk, and $12.06 for a 12-inch pizza.
The average gas price in Seattle was around $2.40 a gallon, which is higher than the national rate. Retirees can save on gas because they don’t drive as much without the daily work commute.
You can also save money by riding public transportation in Seattle. The local bus fare runs around $1.75 for one-way.
The car insurance premium in Washington State runs about $805 a year. These rates may be different based on your driving record, type and year of your vehicle, the amount you drive, and discounts on your policy. You can get discounts for bundling your home and auto policies.
The cost of senior care is higher than the national average. Assisted living care in Seattle averages $54,000 annually, compared to the national average rate of $46,000. The national average cost for nursing home care is $80,300 for a semi-private room and $91,250 for a private room. Nursing home care costs in Seattle are significantly higher with median rates of $114,700 for a semi-private room and $126,000 for a private room.
Adult daycare services in Seattle are slightly lower than the national averages. The annual adult health care rate in Seattle is $16,250, compared to the national average of $17,600. Home health aide costs average $61,800 in Seattle, which is significantly greater than the national average of $46,000.
To help you save money, you should shop the rates for all your services including insurance and utilities because the costs could vary per company. Shop around for lower priced groceries. Find housing close to your destinations, so you can walk instead of drive to save money and get some exercise.
Find assisted living in Seattle near you.