Cost of Living Calculators

MA license plate WEMSNHThere are many web-based tools that allow you to compare the cost of living for different regions.  Many of these want a lot of your personal information upfront.  We’ve selected a few that enable you to make a comparison without having to enter in too much information.

We all know that the cost of living in Mississippi is probably a bit lower than New Hampshire, but not that many people might be making that comparison.  The data shows that people in New Hampshire most frequently move to other New England states.  Some also move to Florida, the Carolinas, Colorado, and the West Coast.  Often, the cost of living in NH compares favorably to these locations.  We encourage you to do your homework when considering any relocation.  Here are a few Editor’s Picks on salary calculators and examples of what you might find.

Inflationdata.com – This tool gives you a big picture look at cost of living differences between Manchester, NH and other metropolitan areas across the country.  Run a comparison between Manchester and Boston and you will find the following: “The cost of living in Boston is higher than the cost of living in Manchester. If you make $100,000.00 in Manchester and move to Boston, you will need to make $121,702.53 ($21,702.53 more) to maintain the same buying power.”

CNN Money – This calculator allows you to enter in a salary, your current location (nearest city), and a city that you want to compare it to.  We compared Manchester to Hartford, CT and learned that you would have to make $51,786 in Hartford to equal a $50,000 salary in Manchester.  While the difference may seem small, this calculator breaks out differences in groceries, housing, utilities, transportation, and healthcare.  What jumped out is that Hartford would cost 13% more than Manchester in terms of both groceries and housing.

Bestplaces.net – This calculator breaks down the comparisons based on 100 different characteristics and enables you to enter in some smaller cities in NH, including Keene, Portsmouth, Concord, and more.  Just for fun, we compared Nashua, NH to New York City.  That $50k salary in Nashua would require $79,456 in New York City to maintain the same lifestyle, making NYC a staggering 59% more expensive than Nashua!

Salary.com – This calculator has additional tools that relate to salary information, including a “personal salary report.”  As the “First in the Nation” state, we expect people living in our capitol city of Concord to consider making a move to our nation’s capitol.  Taking that $50,000 salary again and factoring in cost of living, your salary would need to be 54.7% higher in Washington DC as compared to Concord, NH.  While salaries are an average of 6.4% higher, the increase quickly disappears when the overall cost of living is taken into consideration.