budgeting
Cost of Living
Amount needed to maintain a standard of living
Also known as: col, living expenses, living costs
What You Need to Know
Cost of living refers to the amount of money needed to cover basic expenses such as housing, food, taxes, and healthcare in a specific location. It varies significantly by geographic area and is often used to compare affordability between cities or regions.
Sources & References
This information is sourced from authoritative government and academic institutions:
- bls.gov
https://www.bls.gov/cpi/
Related Calculators & Tools
Put your knowledge into action with these interactive tools:
Geographic Cost Comparison
Compare cost of living, taxes, and salaries across 25 major U.S. cities. Find the best places to live and retire.
Try Calculator ā
Personal Inflation Calculator
Calculate YOUR personal inflation rate based on your actual spending patterns and see required income growth
Try Calculator ā