This calculator gives estimates for education and planning. It is not investment, tax or legal advice; for decisions about your own situation, talk to a qualified financial professional.
A job offer in another city can look generous until you compare rent, groceries and transportation. This calculator estimates how much extra your life would cost after a move and the salary you need to keep the same standard of living.
How it works
- Housing usually makes the biggest difference. Enter what you pay now and what a similar home costs in the new city.
- Other living costs (food, transportation, utilities, childcare, entertainment) change too. Enter what you spend now and how much more or less they cost in the new city, as a percentage.
- Extra pay is taxed, so the calculator divides the extra cost by (1 − tax rate) to find the gross raise that covers it.
extra cost per year = (new housing − current housing) × 12 + other costs × 12 × change
salary needed = current salary + extra cost ÷ (1 − tax rate)
Example
A $75,000 salary, rent rising from $1,800 to $2,600, $3,000 a month of other spending that costs 5% more:
- housing: $800 × 12 = $9,600 a year;
- other costs: $36,000 × 5% = $1,800 a year;
- extra cost: $11,400 a year;
- with 25% taxes on the extra pay: $11,400 ÷ 0.75 = $15,200;
- salary needed: $90,200, a raise of 20.3%.
Where to find the numbers
- Rents: listing sites for the neighborhoods you would actually choose, comparing similar size and quality.
- Other costs: cost-of-living indexes published by research groups, chambers of commerce and the US Bureau of Economic Analysis (regional price parities) give the overall price level by area.
- Taxes: state and local income taxes vary a lot, from zero in some states to over 10% in others. Use your marginal rate, including state tax.
Beyond the numbers
Commute time and costs, car ownership, school quality, childcare, health insurance and the cost of the move itself all matter. A higher salary may also bring a higher retirement contribution match. And remember that a move can change your career prospects in ways a spreadsheet cannot capture.