Housing costs in Mercer Island?
A typical home costs
$1,997,500, which is 490.8% more expensive than the national average of
$338,100 and 273.6% more expensive than the average Washington home, at
$534,700. Renting a two-bedroom unit in Mercer Island costs
$2,840 per month, which is 64.2% more than the national average of
$1,730 and 27.1% more than the state average of
$2,070.
Can I afford Mercer Island?
To live comfortably in Mercer Island (zip 98040), Washington, a minimum annual income of
$382,680 for a family, and
$97,200 for a single person is recommended.
What does A.I. say about Mercer Island?
Living in 98040 Mercer Island, WA can be pricey. According to BestPlaces, the cost of living index is very high compared to other cities at 153.76, making it much more expensive than most places in Washington and across the nation. Renting a one-bedroom apartment can range from $2,077 to $3,300, while utilities average around $150 per month. Groceries are also more expensive than average due to the limited selection available on the island; expect to pay up to 20% more for food than other locations. Gas prices are comparable to those seen throughout the greater Seattle area. The cost of living in 98040 Mercer Island, WA may present challenges for those on a tight budget, but for those that make use of local amenities and resources available on the island it can be an enjoyable place to live.