Cost of Living in Terrace Heights, WA

With a cost of living index of 95, Terrace Heights, WA is slightly more affordable than average. Living here is 5% cheaper than the national average and 24% below the Washington state average of 119. Terrace Heights is a smaller community of 9,480 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Terrace Heights's cost of living. The median monthly rent is $1,124 (15% below the US median of $1,319), and the median home value sits at $325,000 (7% above the national median of $304,900). At current prices, the median home costs roughly 4.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Terrace Heights is $79,525, which is 6% higher than the national median of $75,149. Residents spend roughly 17% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Terrace Heights. The area sees an average annual temperature of 50.8°F, with summers averaging 69°F and winters around 33°F. Annual rainfall totals 8 inches spread over roughly 72 days.

Everyday prices in the Yakima, WA (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.