Cost of Living in Lake McMurray, Washington

Cost of Living in Lake McMurray, Washington

Lake McMurray is a Census-designated place in Skagit County, Washington, with a population of 143. The total cost of housing, food, child care, transportation, health care, taxes, and other necessities for a single adult in Lake McMurray is $34,860 a year — less than the annual cost of living for Washington of $38,410 and less than the national figure of $38,433.

Using cost of living data from the nonprofift think tank Economic Policy Institute, 24/7 Wall St. estimated the cost of living in Lake McMurray and over 29,000 other cities and towns in the US.

Housing Costs in Lake McMurray, Washington

Housing is one of the largest components of cost of living. In Lake McMurray, the median home value is $403,800, greater than the national median home value of $204,900.

Renting is a sometimes lower cost alternative to homeownership. In Lake McMurray, some 16.70% of occupied homes are rented, less than the 36.2% national renter rate.

In addition to home value, one of the largest determinants of housing affordability is area income. While nationwide the price of a typical U.S. home is 3.4 times the $60,293 U.S. median household income, housing affordability ratios range from approximately 1.0 in the least expensive cities to more than 10.0 in the country's most expensive markets. In Lake McMurray, the median household income is $89,583, 4.5 times the median home value.

Transportation Costs in Lake McMurray, Washington

Transportation can also be a significant component of cost of living. In Lake McMurray, 90.30% of commuters drive to work, compared to 85.5% of commuters nationwide. An estimated 90.30% of workers commute to jobs outside of Lake McMurray, a larger share than the 43.7% share of commuters nationwide who live and work in different cities. The average commute in Lake McMurray is 37 minutes long, compared to the 26.6-minute average commute nationwide. Taking into account the cost of gas, as well as public transit and car maintenance, the EPI estimates that a single person in Lake McMurray spends $10,913 a year on transportation, more than the national average of $9,760.

Health Care Costs in Lake McMurray, Washington

Out-of-pocket health care costs and insurance premiums — assuming at least a basic level of health insurance coverage — are far lower than they are on average nationwide in Lake McMurray but in line with what they are across Washington as a whole.

For a single adult living in the area, average health care costs come out to $3,386 per year, compared to an average of $3,351 across Washington and $4,266 nationwide.

Child care Costs in Lake McMurray, Washington

For families with children, child care adds thousands of dollars to overall annual spending. In Lake McMurray, the average annual cost of child care for two children — one 4 year old and one 8 year old — is $15,907, about $1,800 less than the comparable average of $17,688 across all of Washington. Meanwhile, across the U.S. as a whole, childcare expenses for two children averages $15,853 per year.

Food Costs in Lake McMurray, Washington

Food is another every day expense that has a significant impact on overall cost of living. Data from the U.S. Department of Agriculture shows that the cost of food varies from city to city and town to town.

In Lake McMurray, a single adult spends an average of $3,217 on food annually, and a family of four spends $9,289 on average. For context, average annual food expenditure across Washington and the U.S., respectively, are $3,364 and $3,240 for a single adult, and $9,715 and $9,354 for a family of four. These estimates are calculated for a nutritionally adequate diet of food purchased at a grocery store for at-home preparation.

Taxes in Lake McMurray, Washington

Few expenses vary as much from city to city and town to town as taxes. Accounting for state and federal income taxes, as well as Social Security contributions and Medicare payroll taxes, the average adult working in Lake McMurray, Washington pays $5,033 annually — relatively little compared to the statewide average of $5,697.

It is important to note that these calculations do not include other common taxes such as property, sales, and excise taxes. Accounting for these taxes, while excluding taxes levied at the federal level, Lake McMurray residents live in a state with a high average tax burden. Per capita state tax collections in Washington total $3,527 per year, compared to the $3,151 average across all states.

Methodology

To estimate the cost of housing, food, transportation, health care, child care, taxes, and other necessities, 24/7 Wall St. assigned county-level Economic Policy Institute data to cities, towns, villages and Census-designated places based on boundary definitions from the U.S. Census Bureau. For places that span multiple counties, data was aggregated based on the percentage of boundary overlap.


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