One of the first things most of us think about when we are considering a retirement destination is the cost of living there. Fortunately, Wichita is one of the least expensive cities to live in, and the savings are even greater when it comes to the costs most retired people face.
According to the latest statistics from Forbes, the cost of living in Wichita is 8.8 percent below the nationwide average. When it comes to key expenditures, let’s take a closer look at how the “Air Capital of the World” compares to the rest of the United States.
The housing prices in Wichita are currently showing an upward trend while rent is remaining stable. Housing increases are likely to slow down since fewer people are moving to Wichita and job growth is low. According to Forbes in July of 2016, the median home price is $121,600 in Wichita. Those who are looking to rent can expect to pay an average of $568 per month in Wichita for a one-bedroom apartment. Two-bedroom units are running for $683.
The cost of groceries in Wichita is among the lowest in the country according to Sperling’s Best Places. As a matter of fact, Wichitans spend an average of ten percent less for groceries than the national average. For those of you interested in the prices for common items at grocery stores in Wichita, a gallon of milk costs an average of $2.87, eggs are $2.74 for a dozen, and a pound of boneless, skinless chicken breasts will cost you about $2.63.
The cost of transportation is also fairly affordable in Wichita. Residents spend an average of four percent less than the nationwide average on transportation. And, for retired people who do not have to commute to work every day, transportation is even cheaper. Gas prices in Wichita range from $1.52 per gallon to $2.09 as of July 2016. Car insurance is a little bit more than the national average - $1,226 per year in Wichita versus $1,099 nationally – but you can usually find reasonable rates if you have a good driving history, safe habits, and the right vehicle type.
When it comes to senior care, Wichita is a bit of a mixed bag. Nursing home care is less expensive than the national median at $66,540 per year for a private room and $60,871 for a semi-private room in Wichita versus $92,378 and $82,125 respectively nationally. On the other hand, adult day health care and assisted living are both more expensive in Wichita at $26,000 and $46,500 respectively compared to the US medians of $17,680 and $43,539. The cost of home health care in Wichita is right on par with the rest of the country.
Make the most of your fixed income in Wichita by comparison shopping for housing based on affordable transportation solutions, prices, and walkability.
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