Cost of Living – Olympia VS Seattle
Is Olympia more affordable than Seattle? Well, of course it is! But you’ll be surprised to learn that Olympia and Seattle do share some similar costs. That’s what we’re talking about today – affordability – Olympia vs Seattle! Click the video to learn more!
Housing in Olympia vs Seattle
For a typical 3 bedroom, 2 bath home, Olympia’s current median home price is $350,000. In Seattle, this same home is about $825,000. Seattle is about 135% higher for housing! [In the video, I mistakenly say it is 57.5% higher.]
Taxes in Olympia vs Seattle
Washington State does not have an income tax, which is great, but we do have sales tax on retail goods and services that vary from city to city. The state sales tax is 6.5% and then cities collect their own rate on top of this.
Sales Tax
For the City of Olympia, the sales tax is 9.4%.
For the City of Seattle, the sales tax is 10.1%.
Property Taxes
When moving from Seattle to Olympia, you won’t find much relief in property taxes. In Olympia, the property tax rate is $12.97 per $1,000 assessed value. For Seattle, it’s $9.23. But again, your Seattle housing assessed values are much higher than in Olympia.
Gas Tax
Washington State has one of the highest gas taxes in the country. In fact, there are only three states with higher gas taxes and they are Illinois, Pennsylvania, and California (according to AAA). Between Seattle and Olympia, Seattle is only about 10 cents higher per gallon.
If gas prices and gas tax has you down, you may decide to ditch the car and try public transportation!
Public Transportation Costs
As of January 1, 2020, the Intercity Transit bus system in Olympia is FREE to ride. It’s free for all passengers – you don’t need a special pass – just hop on.
Our bus routes are not extensive like in Seattle but you can still get around to the major points in town.
In Seattle, you’ll have a choice between bus service, light rail and train service. And all of these have fares to ride. Check out https://www.soundtransit.org/.
If public transportation isn’t for you, why not get an all-electric car?
Electricity Costs
Washington State has one of the cleanest electric grids with most of our electricity coming from hydro-power.
Seattle wins this battle as their electricity is more affordable. Seattle City Light is a not-for-profit electric utility company and customers pay with an average rate of 7.75 cents, which would be about $80 per month.
The average electricity rate in Olympia is 10.36 cents per kilowatt hour, which would be about $107/month. Puget Sound Energy is utility company. (Source: https://www.electricitylocal.com/states/washington/seattle/)
Grocery prices
Food prices are 14% higher in Seattle than in Olympia. I was comparing prices and found that you can buy a gallon of milk for $2.19 in Olympia and in Seattle, it is $2.99. That’s about 36% higher.
Healthcare
Healthcare is slightly higher in Seattle at 6% higher than Olympia. (Source: https://www.nerdwallet.com/cost-of-living-calculator)
In Conclusion
When you move from Seattle to Olympia, your average cost of living is a nice 33% lower in Olympia.
If moving to Olympia is your plan, let’s chat. As a Seattle transplant myself, I can share with you what it’s like to live in Olympia, WA and of course, help you find your next home!
Be sure to visit my blog to learn more about living in Olympia, WA and my Youtube channel.