Before considering a move to Portland, you should get a solid idea of the cost of living in the Rose City to understand better what kind of income you will need to make the most out of your new surroundings. This guide breaks down the Portland cost of living, from housing expenses to food and healthcare costs. We’ll provide data from the local cost of living index and comparison tools and look at how Portland ranks for livability compared to other U.S. cities. We’ll also share a handy set of additional online resources to measure and compare the cost of living and expenses in other Oregon cities. When you’re planning to live in a new city, the cost of living there will be a combination of expenses required to maintain your desired lifestyle. Cambridge Dictionary defines cost of living as “the amount of money people need to spend to buy basic goods or services such as food, clothes, and a place to live.” This overall cost can vary significantly based on location, even within Oregon. But the living expenses you’ll pay for typically include the following categories: However, the costs often extend beyond these basics to cover other expenses, such as: These elements, when combined, establish the core costs associated with a particular way of living. However, the standard of living you achieve is largely influenced by your income and debts and how the dollar amounts compare to the costs of basic needs in your location or, in this case, the Portland community where you might want to live. Let’s take a quick look at some ways you can compare the cost of living you have now with what you might experience if you move to Portland. A cost of living index (CLI) monitors how these basic expenses oscillate over time in different states, cities, or regions. They provide a way to compare the price of maintaining a particular standard of living. The CLI for a city like Portland is calculated by assessing the price of essential goods and services, such as housing, food, transportation, and healthcare, in different areas. A local index is typically standardized, with a base city assigned a baseline index value (usually set at 100). Other cities are then compared against this benchmark. For example, an Oregon community with a CLI of 125 would signify that living there is 25% more expensive than the base location, while an index of 75 indicates it’s 25% less expensive. A cost of living index will typically break down and score each basic expense by category. Here are separate scores for Portland from the Axios Portland Cost of Living Index: According to Axios, Goods and services in Portland are expensive relative to other large cities but are still less expensive than in other West Coast cities like San Francisco or Seattle.What makes up the ‘cost of living’ in Portland?
What’s a Portland cost of living index (CLI)?
