The United States is a country that requires no introduction when it comes to economic development and growth. It is a land of golden opportunities that allures millions worldwide every year. However, the bargain is quite expensive if you look at the cost of living in the country. If you are searching for rooms for rent in San Francisco, know that an average apartment of 879 sq. ft. costs around $1702 monthly in the United States. Also, renter-occupied households in the United States are around 35% of the total households in the country.
However, many are still moving to this country despite high living costs. It is possible only due to appropriate financial management. You, too, can move to this country to fulfill your dreams, be it higher education or a comfortable lifestyle, by understanding the expense scenario in the country beforehand. It gives you a beneficial edge and helps you plan your expenses and investments well before moving to this country. So, before searching for rooms for rent in San Jose or any other famous city in the country, get some valuable insights into planning your move and plan a budget accordingly. Here is a crisp overview of all the necessary living costs in the country.
- Housing
The housing costs in the country differ substantially, depending on the location, size, and accommodation type. If you look at the average home value in the country, it may cost you around $2,26,800. However, when buying a home, there are affordable markets, including Texas and Michigan, where the average home cost is approximately $1,30,000.
The rental costs for a one-bedroom apartment in the country may cost your pocket $1,224 monthly. However, this number may exceed $ 2,000 in expensive cities like New York and San Francisco. So, if you are searching for rooms for rent in San Jose or other popular cities, think strategically. You may explore other affordable rental locations, including Ohio, Kansas, and Wichita.
- Food
Food costs are another important factor you must consider while planning your finances and moving to the country. On average, monthly groceries would cost you $250-$350. Dining out may cost you anywhere from $10 to $30. In comparison, fast-food options are less expensive, ranging from $7 to $20. You can also explore farmer’s markets as they are excellent means to grab some fresh produce at low costs. The common way to tackle food costs in the country is to have home-cooked meals, which bring you only monthly grocery costs. Thus, it would be helpful to explore supermarkets, buy groceries in bulk, or share the costs of living with a roommate to make your stay sustainable.
- Transport and Commute
You have well-developed public transportation infrastructure in the country, including subways, trains, and buses. Using these means of transportation may cost you $2.75 a single way in cities like New York, while a monthly pass would cost somewhere around $127. If ride sharing is on your mind, it may cost you $30-$50 for a single ride from the airport to a university in a popular city. Similarly, if you prefer a private commute, a weekly car rental may cost you $300-$500, whereas car ownership may cost you $2000 to $10000 for a used car. Remember, all these costs will vary with your location, frequency of commute, and the mode of transportation you choose.
- Education
If you are a student looking for rooms for rent in San Diego, explore the country’s education costs covering a wide span of education levels, including K-12, high schools and college fees. Apart from annual tuition fees, there are other costs, including academic supplies and living arrangements. On average, the annual tuition fee among the country’s K-12 private schools costs around $23,839. At the same time, the annual tuition for private high schools would cost around $15,645. Similarly, average annual tuition fees in public colleges cost approximately $11,744 for residents, while that for non-residents is $21,928. The annual tuition fee in private colleges is approximately $27,796, irrespective of the residency. Thus, opt for scholarships, grants, and financial help while caring for these costs.
- Utilities
The cost of your utilities in the country will depend on the location and size of your housing. Also, climatic conditions will have a significant impact on these costs. Hence, it is important to over-budget for these expenses and follow sustainable, energy-efficient practices, helping bring down utility bills. The average electricity cost in the United States is $0.13 per kWh. At the same time, the costs for gas may range from $2.00- $3.00 per therm. In states with extreme temperatures, these costs soar higher due to excessive demand.
Similarly, water cost in the country is, on average, $2.50 per 1,000 gallons. In drought-hit states like California, this expense is even higher. Average sewer costs may range from $2.00 to as high as $18.00 per 1000 gallons, and the average garbage collection cost is around $17.00 per month.
- Healthcare
If you are searching for rooms for rent in San Francisco or any other economically potent city in the country, consider the healthcare and insurance costs. Although many people receive health insurance coverage from their employers, prescription medication costs, out-of-pocket medical expenses, and deductibles may add up to high healthcare costs. These costs will differ with coverage and your region. It is important to note that non-employer-sponsored insurance premiums will cost you approximately $400-$1000 monthly, depending on the insurance plan. Hence, it is better to be aware of the government healthcare programs that offer significant medical coverage to certain populations. Ensure you set aside a budget for unexpected medical costs in the country.
Conclusion
Thus, consider the living costs if you are planning to move to the United States or have been searching for rooms for rent in San Jose or other similar cities. Although the country exudes financial challenges, it also ensures you reap back your costs by offering you irresistible career opportunities. Practicing budgetary practices beforehand, using the mentioned costing statistics, will help you navigate crucial expenses seamlessly. So, do not give up on your ‘American dream,’ but plan your finances appropriately and well in advance.
