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Message
How to calculate Cost of Living?
Posted on 3/1/12 at 8:44 pm
Posted on 3/1/12 at 8:44 pm
The three locations are: Baton Rouge, Long Island, Orlando
All three offer roughly the same pay. (I work from home so my income stays the same, or upgrades if i find a more favorable job - for now not as worried about this factor)
Is there a good way to calculate the cost of living so we can compare the financial differences in the three locations?
The main factors i could think of are: Cost of Home, Taxes, and Education
As far as education goes we already took a good look and Baton Rouge is private schooling, and Orlando/Long Island would be public.
1. For the taxes is it only the sales, income tax and property tax that I need to worry about?
How can i find the tax rates for each city?
2. Without actually choosing a home in each city, is there a general comparison for housing costs?
3. Anything else? For now we are just trying to assess the financial differences in each city so preferences aren't factored in.
All three offer roughly the same pay. (I work from home so my income stays the same, or upgrades if i find a more favorable job - for now not as worried about this factor)
Is there a good way to calculate the cost of living so we can compare the financial differences in the three locations?
The main factors i could think of are: Cost of Home, Taxes, and Education
As far as education goes we already took a good look and Baton Rouge is private schooling, and Orlando/Long Island would be public.
1. For the taxes is it only the sales, income tax and property tax that I need to worry about?
How can i find the tax rates for each city?
2. Without actually choosing a home in each city, is there a general comparison for housing costs?
3. Anything else? For now we are just trying to assess the financial differences in each city so preferences aren't factored in.
This post was edited on 3/1/12 at 8:56 pm
5
Posted on 3/1/12 at 8:49 pm to computerguy
About 10 websites that offer calculators. Not sure how accurate they are, but probably just as good if not better than what you are looking at doing.
Pretty much everywhere in the US offers a suburb with good schools so living close to where you want is always possible.
Pretty much everywhere in the US offers a suburb with good schools so living close to where you want is always possible.
Posted on 3/1/12 at 8:57 pm to fightin tigers
Yeah I took a look at about 3-4 of the calculators that come up on google but the main factor is how much income you should make in the area. In this case income is static and costs are what will be different for us.
Posted on 3/1/12 at 9:23 pm to computerguy
cost of living is still cost of living. If you make 100,000 here and it would take 105,000 in Dallas then Dallas is roughly 5% more expensive. If you move to French Lick, Indiana and it would take 95,000 to equate your 100,000 income it is roughtly 5% cheaper.
Your income doesn't determine cost of living.
Your income doesn't determine cost of living.
Posted on 3/1/12 at 9:43 pm to computerguy
According to accounttemps
Nola: 99
Long island: 135
Orlando: 98.5
I realize Nola is not Br but it was the only option for LA
Alright so a house in BR is 300000 but in long island it will be 400000
Nola: 99
Long island: 135
Orlando: 98.5
I realize Nola is not Br but it was the only option for LA
Alright so a house in BR is 300000 but in long island it will be 400000
This post was edited on 3/2/12 at 1:44 am
Posted on 3/1/12 at 11:33 pm to computerguy
quote:
I work from home so my income stays the same
Baton Rouge>>>>>>>>>>> than NY & Orlando
wait..
quote:
As far as education goes we already took a good look
How many children & are you Catholic?
What does your spouse do? Can she find a job in Louisiana?
Posted on 3/2/12 at 6:48 am to TigerintheNO
How many children & are you Catholic?
What does your spouse do?
Can she find a job in Louisiana?
--------------------------------------
We have 1 child at the moment but will likely expand our family size once we relocate and settle down.
Wife is the one who got the contract offers in the three locations hence why we are trying to decide where to go.
Just using some common sense and glancing at the price of real estate I can assume the cost of living is lowest to highest as Baton Rouge, Orlando, Long Island. The real question is what is the actual difference.
What does your spouse do?
Can she find a job in Louisiana?
--------------------------------------
We have 1 child at the moment but will likely expand our family size once we relocate and settle down.
Wife is the one who got the contract offers in the three locations hence why we are trying to decide where to go.
Just using some common sense and glancing at the price of real estate I can assume the cost of living is lowest to highest as Baton Rouge, Orlando, Long Island. The real question is what is the actual difference.
Posted on 3/2/12 at 7:01 am to computerguy
Orlando is awesome...great place to raise a family
I know that doesn't answer your question but oh well
I know that doesn't answer your question but oh well
Posted on 3/2/12 at 7:23 am to TheOcean
Orlando is awesome...great place to raise a family
--------
Getting off topic but that is what i thought. We were there for three days and spent a lot of time looking at real estate / schools between interviews.
--------
Getting off topic but that is what i thought. We were there for three days and spent a lot of time looking at real estate / schools between interviews.
Posted on 3/2/12 at 8:07 am to computerguy
Besides other factors mentioned, I would look closely at income tax rates.
New York has state, county and city income tax.
Louisiana has state income tax.
Florida does not have state income tax, but does have intangible asset tax.
LINK
New York has state, county and city income tax.
Louisiana has state income tax.
Florida does not have state income tax, but does have intangible asset tax.
LINK
Posted on 3/2/12 at 8:14 am to CHSBears
CHSBears - Thank you.
That is the exact information I was looking to find out.
Hoping to read up some more tonight. My goal is to find the exact tax rates for NY/LA.
That is the exact information I was looking to find out.
Hoping to read up some more tonight. My goal is to find the exact tax rates for NY/LA.
Posted on 3/2/12 at 10:03 am to computerguy
quote:
Hoping to read up some more tonight. My goal is to find the exact tax rates for NY/LA.
What city in Long Island are you looking at?
NY is about double the cost of living from Louisiana even in Long Island.
Posted on 3/2/12 at 10:06 am to CHSBears
quote:
New York has state, county and city income tax.
I don't know of any county taxes and Long Island is composed of hundreds of cities/towns. I'm not sure of any city taxes in the towns/cities in Long Island. New York City has a city tax, but Long Island isn't NYC.
Posted on 3/2/12 at 10:12 am to MStant1
Orlando with public schools would be your cheapest option (BR slightly less cost of living)- and probably the best place to live out of the 3 anyway.
Posted on 3/2/12 at 10:17 am to computerguy
Keep in mind Long Island isn't a city. Long Island is just a "long" island in NY state that is comprised of hundreds of towns and cities.
The cost of living in Long Island is going to be significantly more than Louisiana in terms of taxes, education and housing. Not to mention things like groceries and utilities are more as well.
I calculated a cost of living calculator comparing Baton Rouge to Westbury, NY (which is in Long Island). Let's say you make 100K in BR, then you would need to make about $172K to keep up the same standard of living.
I chose Westbury because it is a fairly average town in Long Island and is about a 45 minute train ride to NYC. I wouldn't consider it a cute or quaint community and there is nothing overtly special about the town.
LINK
The cost of living in Long Island is going to be significantly more than Louisiana in terms of taxes, education and housing. Not to mention things like groceries and utilities are more as well.
I calculated a cost of living calculator comparing Baton Rouge to Westbury, NY (which is in Long Island). Let's say you make 100K in BR, then you would need to make about $172K to keep up the same standard of living.
I chose Westbury because it is a fairly average town in Long Island and is about a 45 minute train ride to NYC. I wouldn't consider it a cute or quaint community and there is nothing overtly special about the town.
LINK
Posted on 3/2/12 at 2:02 pm to MStant1
MStant1 - Thanks, this site is nice and allows me to make an easy comparison between the cities.
Orlando comparison in case anyone is interested.
LINK
Looks like the numbers are as follows with Baton Rouge used as a baseline.
Orlando is roughly 15% more expensive.
Long Island is roughly 75% more expensive.
Orlando comparison in case anyone is interested.
LINK
Looks like the numbers are as follows with Baton Rouge used as a baseline.
Orlando is roughly 15% more expensive.
Long Island is roughly 75% more expensive.
Posted on 3/2/12 at 2:19 pm to computerguy
Why are you considering Long Island? Also where in Long Island?
Posted on 3/2/12 at 4:55 pm to MStant1
Wife has three current offers and one is at a University in Stony Brook. (others are in Orlando/Baton Rouge)
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