You need to have a clear idea of what the moving process entails before you even consider hiring movers in Lawrence, Kansas. The cost of accommodation, transportation, healthcare, childcare, education, food, recreational activities, and utility services will all be included in this guide that we provide. You will also gain an understanding of what to anticipate in terms of Lawrence’s income, salary, and taxation.
The Cost of Living Lawrence
It is widely recognized that the cost of living in Lawrence, Kansas, is lower than the average cost of living in the country but higher than the average cost of living in the state; however, particular data might differ depending on the source. According to an index that takes the national average of 100 as its point of departure, the cost of living in Lawrence, Kansas, is roughly $95, whereas the cost of living in the state of Kansas is approximately $83 on average. According to one more source, the cost of living in Lawrence, Kansas, is 10% lower than the average for the rest of the United States. This site discussed a variety of themes, the five most important of which were housing, food, healthcare, transportation, and energy.
What is the minimum amount of money required each month for four individuals to live comfortably in Lawrence? If I had to guess, I’d say somewhere around four thousand dollars. According to one estimation, the typical cost of living for a single adult per month is around $2000. When factoring in the costs for housing, transportation, daycare, healthcare, taxes, and other necessities, an adult living alone in Lawrence may spend anywhere from $20,000 to $40,000 annually.
Housing
Although housing prices in Lawrence are lower than the national average, they are higher than those in Kansas, which is Lawrence’s adjacent state. According to research conducted by the United States Bureau of Economic Analysis in 2019, the cost of housing in Lawrence, Kansas, was approximately 15% higher than the cost of housing in any other significant city in the state.
Real Estate Renting
When compared to buying, renting is more cost-effective. Living expenses in Lawrence, Kansas, will not change as a result. More than half of the homes in Lawrence are rented out to the city’s numerous college students and young professionals making the move to Lawrence. If you’re unsure, renting is a safe bet. Move to Lawrence before you buy a house. Lawrence Rent for a one-bedroom apartment in the downtown area averages around $800 per month. Flats with one bedroom cost $700 a month to rent outside of the downtown area. Larger and more luxurious apartments might cost $1,000 or more per month. Rent for a 3-bedroom in the city center averages about $1300 per month. A month’s rent for an apartment in the suburbs is around $1000.
Intent in Purchasing Real Estate
Lawrence, Kansas, has far more affordable housing costs than the national average. In Lawrence, a typical home will cost you around $250,000. Lawrence is known for its low housing costs. However, the home-buying process may be time-consuming and expensive. The down payment and closing charges often total between 15% and 20% of the sale price. Remember that once you buy a house in Lawrence, KS, you will be responsible for a number of additional expenses, such as utilities, repairs, home insurance, and property taxes.
Transportation
Lawrence has affordable and convenient transportation. Due to its compact size, the city is easy to walk or bike around. Public transit is very good. Transportation costs don’t affect Lawrence, Kansas’s cost of living. About 80% of residents drive to work. One-third of the workforce works outside Lawrence. Lawrence commuters average 20 minutes. The US average is a little under 27 minutes. When gas, maintenance, insurance, and public transit are included, Lawrence’s average transportation cost is lower than the US average but higher than Kansas’. The EPI predicts that a single adult in Lawrence may spend $9,600 on transportation annually.
Gas costs $2.50 per gallon, and tire balancing costs $50. Taxi costs average $2/km. Lawrence’s public transit costs $2. Monthly passes cost under $30. Lawrence is 30 minutes from Kansas City International Airport by vehicle. Lawrence has the Lawrence Municipal Airport. Lawrence’s bus and rail networks serve residents and students. Uber and Lyft offer ridesharing. Lawrence is building a 22-mile pedestrian corridor called the Lawrence Loop, which will be paved throughout.
Healthcare
Residents in Lawrence have access to high-caliber medical care at prices that are affordable. The cost of medical treatment in Lawrence is considerably more than the average cost throughout the country, but it is lower than the cost across the state of Kansas. This covers the expense of a visit to the dentist and the doctor, in addition to the typical rate charged by hospitals for a private room for one night.
Premiums and deductibles for healthcare insurance policies that offer at least the national average level of protection are roughly comparable to those in Kansas; nonetheless, they are a little bit more than the national average. If you are an adult living in Lawrence and you are a single person, your annual health care expenditures might be close to $4600. It’s possible that this will make up a sizable chunk of your entire spending in Lawrence, Kansas.
Taxes
Lawrence residents pay approximately the average amount in taxes. Based on county-level statistics, the Economic Policy Institute projects that Lawrence working adults will pay $5,700 in yearly taxes. Medicare and Social Security payroll taxes were excluded. Kansas collects a 6.5% sales tax. Lawrence retailers must charge 1.55% more. Lawrence residents will pay 9.30% sales tax.
All Lawrence homeowners pay the city’s property tax; rates vary by property type. Kansas residents must report earnings to the state. Kansas has 3.10, 5.25, and 5.70 percent income tax rates. This state has no personal income tax. Profits and interest may be municipally taxed. Kansas has no death or inheritance tax, which is good news for retirees.
Final Thoughts
Lawrence is home to the bulk of Kansas’ academic and artistic institutions. As well as the many available jobs, it is an excellent moment to be a creative professional in this region. Some of the greatest schools in the area may be found here. This year, about 96,000 people made Lawrence, Kansas, their permanent home. This area has everything a city dweller might want. The crime rate is low, and the people are well educated and engaged in politics.
