Cost of Living for Retirees: Idaho vs. Washington Comparison

Idaho and Washington are two popular states for retirees, offering a variety of benefits including beautiful scenery, mild climates, and low taxes. However, the cost of living in these two states can vary significantly, so it’s important to do your research before making a decision.

Cost of Housing

The cost of housing is one of the biggest factors to consider when comparing the cost of living in Idaho and Washington. On average, homes in Idaho are about 30% cheaper than homes in Washington. This means that retirees can get more for their money when they buy a home in Idaho.

  • The median home price in Idaho is $275,000
  • The median home price in Washington is $450,000

Of course, the cost of housing can vary significantly from one area to another. In Idaho, for example, the cost of housing is much higher in Boise than it is in rural areas. Similarly, in Washington, the cost of housing is much higher in Seattle than it is in smaller cities like Spokane.

Cost of Groceries

The cost of groceries is another major factor to consider when comparing the cost of living in Idaho and Washington. On average, groceries are about 10% cheaper in Idaho than they are in Washington. This means that retirees can save money on their grocery bill by living in Idaho.

  • The average cost of a gallon of milk in Idaho is $2.75
  • The average cost of a gallon of milk in Washington is $3.00

Again, the cost of groceries can vary significantly from one area to another. In Idaho, for example, the cost of groceries is much higher in Boise than it is in rural areas. Similarly, in Washington, the cost of groceries is much higher in Seattle than it is in smaller cities like Spokane.

Cost of Healthcare

The cost of healthcare is another important factor to consider when comparing the cost of living in Idaho and Washington. On average, healthcare costs are about the same in Idaho and Washington. However, there are some key differences to keep in mind.

  • Idaho has a state-run health insurance exchange called Idaho Health Choices
  • Washington has a state-run health insurance exchange called Washington Healthplanfinder

Both Idaho and Washington have Medicaid programs for low-income individuals and families. However, the eligibility requirements and benefits vary from state to state.

Other Costs of Living

In addition to housing, groceries, and healthcare, there are a number of other costs to consider when comparing the cost of living in Idaho and Washington. These include transportation, utilities, and taxes.

  • The average cost of a new car in Idaho is $25,000
  • The average cost of a new car in Washington is $27,000

The average monthly cost of electricity in Idaho is $100

  • The average monthly cost of electricity in Washington is $110
  • The average monthly cost of natural gas in Idaho is $75

  • The average monthly cost of natural gas in Washington is $85
  • The average state income tax rate in Idaho is 4.9%

  • The average state income tax rate in Washington is 5.9%
  • The average sales tax rate in Idaho is 6%

  • The average sales tax rate in Washington is 6.5%
  • Of course, these are just average costs. The actual cost of living in Idaho and Washington will vary depending on your individual circumstances.

    Conclusion

    Idaho and Washington are both great states for retirees, offering a variety of benefits including beautiful scenery, mild climates, and low taxes. However, the cost of living in these two states

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