Rankings of the best places to live are published on a regular basis. These rankings may look at criteria such as climate, crime rates, healthcare accessibility, job market, and educational opportunities. These qualities are essential factors to consider when making a decision to relocate for college, work, or retirement. It is also important to factor in how the cost of living may be different after you move to your new home. Check out this Bankrate.com easy-to-use cost of living calculator that compares your current city with others across the country.
The data source for the Bankrate cost of living calculator is the ACCRA Cost of Living Index. The ACCRA is designed to compare cost of living differences among urban areas based on the price of consumer goods and services appropriate for professional and managerial households. The ACCRA Cost of Living Index consists of six major categories: grocery items, housing, utilities, transportation, health care, and miscellaneous goods and services. One major component missing from the cost of living index is your new tax burden, so make sure to research property, local, and state taxes as well.
Planning for cost of living differences before your move will ensure you can maintain your lifestyle, which will also lead to improved overall health, wellness, and quality of life.