Comparing Cost of Living: Should You Move?

Whether it's the renewed prevalence of remote work, or just wanting to be closer to family, experts say more people are moving in the first three months of 2022 than usually move in a year. 

But not all moves are good moves. You need to pause and think about the underlying costs involved. No matter what your reason for moving, the cost of living will play a huge factor. 

Some cities rank with a high cost of living (HCOL) and others as a low cost of living (LCOL) area. There are pros and cons to both HCOL and LCOL areas. 

A high cost of living area describes a generally expensive area. That means the cost of goods and services in such an area is at its peak. 

To live there, you will need extra money to cover your basic and biggest household expenses such as food, housing, taxes, and healthcare. 

Most large cities such as New York, San Francisco, Boston, Honolulu, and Oakland, are a few in this category. 

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