Due to its high cost of living, living in Bellevue, Washington—often associated with a vibrant innovation hub and breathtaking natural beauty—can seem like a pipe dream come true. But do not panic, dreamers on a tight budget!
This guide explores Bellevue’s hidden treasures, revealing the areas that provide a cozy and cost-effective way of living without compromising the liveliness of the city.
So, cast off the myth and get ready to discover Bellevue’s hidden areas, where potential and affordability collide. Fasten your seatbelts and come along as we reveal the city’s most affordable gems!
Phantom Lake
Phantom Lake is home to 2,111 people and is a small village surrounded by beautiful scenery.
Phantom Lake has a somewhat high cost of living despite its tiny size; its Cost of Living Index is 160, meaning that its expenses are higher than the national average.
A favorable Home Value to Income Ratio of 5.0, which indicates that homeowners can purchase homes that are within five times their annual income, balances this out.
Furthermore, at 0.013, the Rent to Income Ratio is exceptionally low, suggesting that rental prices are reasonably priced in relation to the income levels of the occupants.
Read Also: Stretch Your Dollar: 5 Most Affordable Destinations in Costa Rica
Wilburton
The charming town of Wilburton, home to 6,416 people, has a 159 Cost of Living Index, which indicates how reasonable everyday costs are in comparison to other places.
With a Home Value to Income Ratio of 4.9, homes are comparatively inexpensive when compared to the incomes of the local population.
In addition, Wilburton is a desirable location for both homeowners and renters due to its remarkably low Rent to Income Ratio of 0.014, which indicates that rental homes are fairly priced.
Read Also: Wallet-Wise: Making the Most of Your Money in Illinois’ Cheapest Cities
North Bellevue
With 2,686 residents, North Bellevue offers a special combination of affordability and community. Although the area is small, its comparatively greater expenses are reflected in its low cost of living index of 185.
The 4.7 home value to income ratio, however, indicates that many residents may still be able to afford to buy a property, making it a reliable investment option.
Furthermore, the relatively low rent to income ratio of 0.013 indicates that renting is reasonably priced, which may draw in both renters and homeowners.
Read Also: Where to Retire for Less: Affordable NC Towns
Robinswood
Nestled within its own distinct charm, Robinswood is home to 1,997 people who have found peace and friendship in its peaceful surroundings.
Robinswood is a small town with a cost of living index of 152, which strikes a balance between affordability and standard of living. With a favorable house value to income ratio of 6.0, residents may be assured of a stable housing market that is in line with their income levels.
Furthermore, Robinswood has affordable rental rates, enabling both homeowners and renters to comfortably manage their budgets, with a rent to income ratio of 0.014.
Read Also: Wallet-Friendly Wonders: Revealing the 5 Cheapest Places to Reside in Massachusetts
Vasa
With 1,354 residents, Vasa is a small town with a high Cost of Living Index of 167, suggesting that living costs may be greater than in other places.
The Home Value to Income Ratio, albeit small, is 5.7, indicating that the cost of housing is comparatively high when compared to the incomes of the occupants. But with a Rent To Income Ratio of just 0.014, renting can be a more cost-effective choice for people living in Vasa.
To Conclude
