Budgeting & Income
Cost of Living Calculator
A $130,000 offer sounds like a raise on $100,000 until the new city costs 50% more to live in. Restating both salaries in the same purchasing power is the only way to see whether you come out ahead — and the answer is often the opposite of the headline.
100 is the national average. Look yours up on a published index.
Salary needed to break even there
$150,000
The new city is 50% more expensive.
This is a nominal raise and a real pay cut. Whether that is acceptable is a genuine question — proximity to family, career options, or a city you would rather live in are worth real money. Just make the trade knowingly.
- Real shortfall on the offer
- $20,000
- Nominal change in salary
- $30,000
- Change in purchasing power
- -20%
- Cost of living difference
- 50%
How this calculator works
The equivalent salary is your current salary × (new city index ÷ current city index). Real difference is the offer minus that figure; the change in purchasing power expresses it as a share of your current salary. Cost difference is the percentage change between the two indices.
Index numbers are yours to enter — published indices weight a standard basket that may not match your spending, and housing dominates the weighting. Taxes, moving costs, and differences in commute or childcare are not modelled, and state income tax alone can be worth more than the index gap.
Try an example
Frequently asked questions
How do I compare salaries between cities?
Divide your salary by your city's index and multiply by the new city's. On a 100 index, $100,000 in a city at 150 needs $150,000 to match. Compare that figure to the offer — anything less is a real pay cut regardless of how the number looks.
What is a cost of living index?
A composite of housing, groceries, utilities, transport and healthcare prices, scaled so 100 is the national average. Housing carries the largest weight by far, which is why indices swing hardest between expensive coastal metros and the interior.
Do these indices account for taxes?
Most do not, and the omission is large. Moving from Texas or Florida to California or New York adds up to about 10% of income in state tax that no cost index captures. Run a take-home comparison alongside this one before deciding.
Why does housing matter more than the index suggests?
Because the index assumes an average housing situation. If you would have roommates, already own outright, or work remotely from a cheaper suburb, your personal cost difference is far smaller than the city-level figure. If you are buying in a hot market, it can be larger.
Is a lower salary in a cheaper city always better?
For present spending, often. For saving and investing, not necessarily — a higher nominal salary with controlled spending can leave more in absolute dollars, and dollars invested are worth the same everywhere. Salary anchoring also follows you: a lower base can depress future offers for years.
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Disclaimer: DayCents provides this calculator for educational purposes only. Results are estimates based on your inputs and the stated assumptions — they are not financial advice, a quote, or an offer of credit. Consult a qualified financial professional before making major money decisions.