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Thread: Average cost of living by zip code?

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    Featured Member Katherine's Avatar
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    Default Average cost of living by zip code?

    I did a search here and on google to see if I could find what I was looking for, but to no avail.

    Is there a way to search by zip code what the average cost of living is (and preferably the breakdown averages as well)?

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    God/dess fancygirl's Avatar
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    Default Re: Average cost of living by zip code?

    nope-- best bet is to look by fifty most expensive places to live, or fifty most inexpensive places to live in the US and then try to find something close...

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    God/dess Emily's Avatar
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    Default Re: Average cost of living by zip code?

    I think you can do better than that. I've seen COL calculators done by city, like here

    http://cgi.money.cnn.com/tools/costo...tofliving.html

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    God/dess VenusGoddess's Avatar
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    Default Re: Average cost of living by zip code?

    Cool calc, Emily!

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    Featured Member Katherine's Avatar
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    Default Re: Average cost of living by zip code?

    I found a calc similar to that one in the NY Times job search section.

    I was trying to find it in a round a bout way, but what I'm actually looking for is average cost of living in neighborhoods, specifically one in Queens near where I live.

    I'm fortunate enough to have an accountant for myself, but am *trying* (cause I sure don't know exactly what I'm doing) to help a girlfriend out. She's worried about being audited and whatnot. From SW, I've learned that one of the things the IRS will look at is the average cost of living in your neighborhood. So I'm trying to help her figure out what a reasonable cost for where she lives will be...

    We're putting together a budget and breakdown of her finances so she has an easier time with things, in addition to finally starting to pay taxes.

    So that was/is my ulterior motive...

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    "Guys are so damn lame, the only way they can halfway make up for it is by opening their wallets."

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    God/dess doc-catfish's Avatar
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    Default Re: Average cost of living by zip code?

    I'm a little suspicious of those COL calculators because there are so many variables that can be taken into consideration that those calculators don't compute. Particularly in a place like NY, your COL can probably vary considerably from building to building even in the same zip code.

    One thing you could take a look at is the census data for the zip code in question. Note that most of the data is from 2000.

    http://factfinder.census.gov/home/sa....html?_lang=en

    Pay particular attention to things like median housing cost, median family income, etc. You can click on the "see more" links for detailed information.
    Former SCJ now in rehab.

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    God/dess Emily's Avatar
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    Default Re: Average cost of living by zip code?

    the point was that Katherine wanted to find something to mimic the IRS' computers...not that she really wanted to know the COL

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    Featured Member Katherine's Avatar
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    Default Re: Average cost of living by zip code?

    ^^ Thanks for the translation Em

    It doesn't matter in the end. She will be claiming enough to be covering her lifestyle, which is a little better than most in the area she lives in. She's concerned about an audit for the past few years she hasn't filed...

    Sophia_Starina = stripper goddess


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    Banned Melonie's Avatar
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    Default Re: Average cost of living by zip code?

    actually, one of the best ways to estimate 'minimum' cost of living figures by zip code is to look up the estimates for costs of living put out by local colleges (which have access to the same database). In the case of Brooklyn, NY Brooklyn Law lists annual costs for housing at $ 12,360 , annual costs for other living expenses at $4,950, annual costs for transportation at $884 ... for a total bare bones annual cost of living of about $19k for a single 'student' living in a typical student apartment. Given the federal, NY state and NY city income tax rates, you're looking at a reported income of at least $30k just to cover bargain basement rent, food, utilities etc. in Brooklyn without having one additional dollar to spend / save / invest.

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    Featured Member Katherine's Avatar
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    Default Re: Average cost of living by zip code?

    Thanks Mel! She lives right near a college, so I'll pass that on!

    Sophia_Starina = stripper goddess


    "Guys are so damn lame, the only way they can halfway make up for it is by opening their wallets."

    AznExtasy

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    Featured Member sophiemarie's Avatar
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    Default Re: Average cost of living by zip code?

    Brooklyn is expensive and in Park Slope it is more worse than Manhattan. The cost of living in NY is driving people out. NY State looses 10,000 people a year. Everyone is moviing South and West. Arizona, nevada, and Florida are the fastest growing states.



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    Banned Melonie's Avatar
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    Default Re: Average cost of living by zip code?

    ^^^ well, to be absolutely correct, not everyone is leaving New York. Actually NY is gaining bankers, lawyers, stockbrokers, corporate managers/exec etc. who come to NY because of the super-high paychecks that go along with working at a major league position in the 'money capital' of the free world. As discussed in other threads, when you're talking about people with total incomes over $1 million a year, they have the means to reduce their tax liabilities (via maximizing capital gains vs salary, via investing in tax-free muni bonds with a $50k minimum buy-in, via buying a second house outside of NY state to serve as their legal residence thus escaping NY state income tax etc.) so that in real world terms the high 'published' NY tax rates vs other states aren't really any higher for them in terms of total dollars actually being paid toward NY state and local income taxes !

    Also, NY is gaining 'minimum wage' / permanently unemployed unskilled people who migrate into NY because the state's generous social welfare programs provide benefits to them which are far better than those paid by most other states. Between medicaid, cash payments, rent and utility subsidies, free food/ food stamps etc. NY's social welfare benefits are reputed to equal a $20,000 per year cash value per recipient who is sitting home doing nothing and a $30,000 per year combined paycheck plus cash value per recipient who actually choose to work at a 'minimum wage' job and also collect partial social welfare benefits.

    It is only the 'middle class' people who earn say between $50k and $250k a year, those whose total incomes mostly consist of salary ( i.e. ordinary income subject to the full brunt of NY's high state and local income tax rates), who are leaving the state of NY in droves to take advantage of southern states with no income tax, lower sales tax, employment opportunities in manufacturing and construction, vastly lower real estate prices and property taxes etc. If you look at the number of manufacturing jobs that are being permanently eliminated in NY every year, and consider that there are 3 people in the family of your average laid off manufacturing worker, the 10,000 figure has to be way short. Thus your 10,000 figure of net population leaving the state of NY annually probably represents 21,000 'middle class' New Yorkers actually leaving the state, offset by perhaps 1,000 new 'upper class' bankers / lawyers / stockbrokers etc. and 10,000 new social welfare program recipients moving in !

    Coincidentally, dancer earnings potential in NY clubs sort of follows the population trend. The 'upper class' clubs in Manhattan can offer stunning earnings potential for girls who are 'down with the program'. Middle of the road club earnings potential is declining. And the low end clubs are full of guys who are expecting 'something' for 'nothing' !

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    Last edited by Melonie; 01-06-2007 at 05:16 PM.

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    Featured Member sophiemarie's Avatar
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    Default Re: Average cost of living by zip code?

    I can't agree with you anymore Melonie. You have your numbers and stats down about NYC.
    Most people do get food stamps here. It's crazy. NY is for the Rich and the Poor..........



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    Featured Member Katherine's Avatar
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    Default Re: Average cost of living by zip code?

    It's crazy. I work hard and make an 'ok' amount. So with all the programs here? I could potentially quit my job. Work at whole foods let's say (I want a discount there!) part time to make however much, and then collect the 'balance' of a living wage by social welfare programs?

    Where do I sign up?

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    "Guys are so damn lame, the only way they can halfway make up for it is by opening their wallets."

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    Featured Member sophiemarie's Avatar
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    Re: Average cost of living by zip code?

    Do it girl. One Life To Live.



    I Love Life!!!!!!!!!!!!!!!!!

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    Default Re: Average cost of living by zip code?

    ^^^ well, if you chose to work less than 20 hours per week, and your 'assets' i.e. bank accounts + investments + car weren't worth more than a few thousand dollars (not counting IRA/401k assets which are untouchable), you'd be eligible for ...

    medicaid ... 100% free medical coverage
    subsidized housing ... on a $600 per month apartment the state pays about $400 you pay $200
    HEAP ... on a $200 monthly utility bill state pays about $100 you pay $100
    plus an assortment of other potential low income goodies i.e. free food

    The Irony of this setup is that New Yorkers have absolutely no incentive to want to work at a job which pays between say $30k and $50k per year - because every dollar of extra earnings is offset by a dollar lost in equivalent social welfare benefits or increased taxes !!!

    NY is for the Rich and the Poor
    as are California, Illinois, Michigan and other 'blue' states ... and for exactly the same reasons - they drive out industry with high taxes and strict regulations, they provide generous social welfare benefits for low income residents, and they tax the hell out of 'middle class' wage earners to pay for those low income benefits.

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    Featured Member sophiemarie's Avatar
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    Default Re: Average cost of living by zip code?

    Yes NY is a crazy state like that. A state like no other. i bust my arse to stay alive here and God knows it is worth it.



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    Featured Member Katherine's Avatar
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    Default Re: Average cost of living by zip code?

    LOL... That's the income range I'm in... So the state I love is incondusive (spelling?) for me.

    Oh well. Like SM, I'm a NY girl to the core.

    Maybe I should go part time and cut my hours. I could use some food stamps! And help to pay my apartment.

    I'm a little depressed. Not to mention next monday is Jan 15th. So not happy.

    Sophia_Starina = stripper goddess


    "Guys are so damn lame, the only way they can halfway make up for it is by opening their wallets."

    AznExtasy

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    Banned Melonie's Avatar
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    Default Re: Average cost of living by zip code?

    ^^^ yup, perhaps it's time to voluntarily cut your earnings in order for you to increase your standard of living !!! I'd say LOL except it's no joke ! Sit down and figure out the equivalent cash value of 100% medicaid health insurance coverage, rent subsidies, utility bill subsidies, food stamps etc ...

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