Summit, WA Cost Of Living
Cost Of Living In Summit, WA Summary
Cost of living in Summit research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Summit is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Washington, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Summit is 131, with 100 being the average.
The cost of living index in Summit is 1.3x higher than the national average.
Summit ranks as the #91 cheapest in Washington out of 192.
Summit ranks as the #5,035 cheapest out of 6,489 in the US.
The median home value in Summit is $582,255.
The median income in Summit is $107,977.
Table Of Contents
Summit's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Summit, WA?
According to the most recent data on the cost of living, Summit has an overall cost of living index of 131, which is 1.3x higher than the national index of 100.
Compared to Washington, Summit has a cost of living index that's 1.1x higher than Washington's index of 118.
The standard of living in Summit ranks as #91 most affordable out of the 192 places we measured in Washington. By definition, that implies Summit ranks as the #101 most expensive place in the Evergreen State.
For more reading on life in Summit, check out:
In Washington
In America
Summit Cost Of Living Vs. Washington
Six factors go into calculating the cost of living index in Summit. Here is how it fairs on each of the criteria:
The Services index in Summit is 119.
The Groceries index in Summit is 113.
The Health index in Summit is 126.
The Housing index in Summit is 161.
The Transportation index in Summit is 124.
The Utilities index in Summit is 97.
| Living Expense | Summit | Washington | National Average | |
|---|---|---|---|---|
| Overall | 131 | 118 | 100 | |
| Services | 119 | 111 | 100 | |
| Groceries | 113 | 112 | 100 | |
| Health | 126 | 122 | 100 | |
| Housing | 161 | 135 | 100 | |
| Transportation | 124 | 124 | 100 | |
| Utilities | 97 | 91 | 100 | |
Summit, WA Housing Cost Breakdown
Housing swings affordability the most between places in Washington, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Summit is $582,255.
The Median Rent in Summit is $1,460.
The Median Income in Summit is $107,977.
The Home Value To Income in Summit is 5.4x.
The Rent To Monthly Income in Summit is 0.16x.
| Statistic | Summit | Washington | United States |
|---|---|---|---|
| Median Home Value | $582,255 | $595,737 | $303,400 |
| Median Rent | $1,460 | $1,682 | $1,348 |
| Median Income | $107,977 | $94,952 | $78,538 |
| Home Value To Income | 5.4x | 6.3x | 3.9x |
| Rent To Monthly Income | 0.16x | 0.21x | 0.21x |
Median Home Value
Median Rent
Median Income
Summit, WA Costs By Category
Detailed Summit Services Costs Vs. Washington
| Item | Summit | Washington |
|---|---|---|
| Shampoo | $1.38 | $1.28 |
| Movie | $11.92 | $12.13 |
| Bowling | $21.09 | $18 |
| Haircut | $23.76 | $24.26 |
| Beauty Salon | $54.27 | $45.56 |
Detailed Summit Groceries Costs Vs. Washington
| Item | Summit | Washington |
|---|---|---|
| Ground Beef | $5.71 | $5.84 |
| Fried Chicken | $2.55 | $1.57 |
| Milk | $5.14 | $4.67 |
| Potatoes | $3.87 | $4.93 |
| Pizza | $15.13 | $12.09 |
| Beer | $11.74 | $10.41 |
| Toothpaste | $4.15 | $3.7 |
Detailed Summit Health Costs Vs. Washington
| Item | Summit | Washington |
|---|---|---|
| Optometrist | $191.81 | $125.68 |
| Doctor | $192.99 | $135.78 |
| Dentist | $127.12 | $113.29 |
Detailed Summit Transportation Costs Vs. Washington
| Item | Summit | Washington |
|---|---|---|
| Gasoline | $4.2 | $3.46 |
| Tire Balancing | $78.74 | $59.92 |
Detailed Summit Utilities Costs Vs. Washington
| Item | Summit | Washington |
|---|---|---|
| All Electricity | $169.3 | $193.99 |
| Phone | $204.78 | $192.25 |
Summit SnackAbility
/10
Cost Of Living In Cities Around Summit
The cost of living varies in the cities and towns around Summit. Here's a quick look at the cost of living in the most populous nearby places:
Tacoma, WA has a cost of living index of 130, 1.0x Summit.
South Hill, WA has a cost of living index of 135, 1.0x Summit.
Lakewood, WA has a cost of living index of 127, 1.0x Summit.
| City | Population | Cost Of Living | Vs. Summit |
|---|---|---|---|
| Tacoma, WA | 220,482 | 130 | 1.0x |
| South Hill, WA | 68,161 | 135 | 1.0x |
| Lakewood, WA | 63,034 | 127 | 1.0x |
| Puyallup, WA | 42,642 | 135 | 1.0x |
| Parkland, WA | 39,174 | 122 | 0.9x |
| Frederickson, WA | 24,219 | 131 | 1.0x |
| Gig Harbor, WA | 12,202 | 154 | 1.2x |
| Fife, WA | 10,902 | 133 | 1.0x |
| Sumner, WA | 10,674 | 134 | 1.0x |
| Summit View, WA | 9,014 | 129 | 1.0x |
