Cost of Living Calculator
Use our interactive Cost of Living Calculator to compare expenses and budget effectively when moving to a new city.
Moving assumptions
Indices represent the relative cost of living compared to a 100 baseline. Use recent published values for each city.
Enter your inputs and click Calculate to see your equivalent salary.
How to Use This Calculator
This calculator helps you compare the cost of living between different cities. It is perfect for anyone planning a move or wanting to understand their budget better.
Enter the city names, your current salary, and the most recent cost-of-living indexes you can find for each location.
Data Source and Methodology
Data sourced from authoritative financial and real estate resources. All calculations are strictly based on those official numbers.
The calculator converts salaries using the ratio of the two city indexes and surfaces the equivalent pay needed to maintain your standard of living.
Methodology
The cost of living ratio uses the formula published in our guide:
- City names provide context, but the numeric indexes drive the math.
- Indexes should come from published reports and share the same baseline (usually 100).
- The result reports the salary you would need in the new city, the difference from your current pay, and the index ratio.
How It Works: A Step-by-Step Example
Consider moving from New York City to San Francisco. If your current salary is $100,000 and the indexes show San Francisco at 118 while New York remains at 100, the calculator estimates you need about $118,000 to maintain the same standard of living.
Glossary of Terms
- Current City: Where you now live.
- New City: Your target relocation.
- Salary: Your current annual income.
- City Index: A normalized cost of living (baseline 100) that lists relative affordability.
Frequently Asked Questions (FAQ)
What is the cost of living?
The cost of living refers to the amount of money needed to cover basic expenses such as housing, food, taxes, and health care in a particular place and time.
How often is the data updated?
The data is updated annually or whenever new releases from official sources become available.
About this tool
Tool developed by Ugo Candido. Content reviewed by the expert team at NerdWallet. Last reviewed for accuracy on: October 1, 2023.