With the New Year, many consumers are making major life changes: moving cities, changing jobs and changing schools. To enable consumers to make informed decisions, NerdWallet is launching two tools, a Cost of Living Calculator and a City Life Tool, as well as a series of city studies.
The Cost of Living Calculator and City Life tool can help consumers accurately predict how their finances and lifestyle will change when moving to a new city. The Cost of Living Calculator allows consumers to compare costs across over 300 cities, while the City Life tool enables consumers to see detailed profiles of the 25 most populous U.S. cities as well as Honolulu.
Consumers can use the Cost of Living Calculator to:
- See what salary they would require to maintain their current standard of living in another city
- Compare the costs of housing, transportation, healthcare, food and entertainment in over 300 cities
- Find information tailored to their own demographic. For example, parents can simply check a box to have public school ratings displayed for them and seniors can compare the average costs of doctor visits
Consumers can use the City Life Tool to:
- Browse for information on what life is like in 26 of the most popular U.S. cities
- Analyze the demographics of their city, including breakdowns of ethnicity and age, the ratio of unmarried males to females and the typical educational backgrounds of residents
- Assess quality of life factors, including walkability, crime rate, weather and public transit ratings
- Learn statistics on the available schools, including the quality of public schools and the average tuition for private schools
- Compare various aspects of their city to other cities
- Find cost of living information and sample costs like average rent and gas prices
Always consumer-focused, NerdWallet has created these tools to ensure that consumers are able to make choices with as much accurate, unbiased information as possible to aid in their decision-making processes.