The Seattle metro area has the eighth highest combined housing and child care cost compared to other cities in the report, which included Portland, Los Angeles, San Francisco, Phoenix, Washington D.C. and New York, among others.
Families living in urban areas of Seattle spend about $54,668 a year on housing and child care, while families living in the suburbs spend $43,292, which equates to $11,376 a year/ $948 a month. Nationally, families in cities spend on average more than $9,000 a year, or about $750 a month, than those in the suburbs.
Comparatively, the cost of living in New York City topped the list at $71,237 a year more than living in the suburbs, followed by Chicago, Dallas and Washington, D.C. Read full ranking on Care.com and Zillow Cost of Living report
“Deciding whether to live in the city or suburbs is a personal choice, but when you do the math, it’s easy to see why moving to the suburbs is about more than just a bigger yard – it can also save you a lot of money,” Zillow Chief Economist Svenja Gudell said in a released statement.
“More than a third of families exceed their initial budget when buying a home, according to the Zillow Group Consumer Trends Report, so before embarking on a move, consider the cost of living beyond just the home’s sticker price.”
High property taxes and rising home prices are usually why living in the city costs more, says the report, but child and family related expenses also play a big role.
In addition lower living costs, the median home in the suburbs is nearly 280 square feet larger than an urban home. Meanwhile, the report found commute times are about the same between urban and suburban residents.
“Figuring out where your family will live and grow is arguably one of the most exciting and daunting times in a parent’s life,” Joyce Hodel, a data scientist at Care.com, stated in the release. “While moving to the suburbs often brings significant cost savings, city living can still be the right choice for some families and is less expensive in certain metro areas."
Graphic: Care.com and Zillow