Cost of Living in Springfield, OR

Housing

The housing market plays a significant role in determining the cost of living in Springfield, OR.

• Housing Index: 110.0 / 100
• Median Home Price is: $420000
• Average Rent (2 BR Apartment): $1500 per month
• Average Rent (2 BR House): $1580 per month

Considering a move to Springfield, OR? With a housing index of 110.0, it suggests the market is slightly above the national average. A median home price of 420000 indicates potential homeownership could be a viable option. Renters should anticipate spending about 1500 for a 2-bedroom apartment or 1580 for a house. Comparatively, this city may offer varying choices between renting and purchasing; however, it may stress some budgets, given that the average costs are relatively high. Carefully consider your financial situation before deciding!

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Springfield, OR.

• Electricity Price: 15.12 USD (median by state)
• Natural Gas Price: $16.5 USD per Thousand Cubic Feet (median by state)
• Other Utilities (water, garbage, etc.): $230 per month

Living in Springfield, OR could entail higher utility costs. Electricity costs sit at 15.12, while natural gas is priced at 16.5 per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 230 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 105.3

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $60982

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Springfield, OR, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.