Wichita is a medium city located in Kansas with a metropolitan area population of 385,577. A couple could live a moderate lifestyle in Wichita on a budget of $2,531 per month, or $30,375 per year.
Cost of Living in Wichita, Kansas
As noted above, the cost of living in Wichita, Kansas is $2,531 per month for a couple living a moderate lifestyle. This budget consists of $1,341 for housing related costs, $533 for food, and $657 for other costs, all of which will be broken down below.
- A one-bedroom apartment in the city center of Wichita is estimated to cost $1,009
- Basic utilities including electricity, water, and gas will run about $257
- High-speed internet averages $75
- Typical grocery costs of $345 per month include things like bread, eggs, milk, cheese, rice, chicken breast, bottled water, fruits, and vegetables
- Alcohol including beer and wine for moderate home consumption costs about $93
- Frequent coffees in a neighborhood café are estimated to be about $95
- Meals out are estimated to be $370 per month, including 4 meals in mid-range restaurants and 8 in inexpensive restaurants
- Transportation costs of $138 for public transport passes and occasional taxis
- Fitness center memberships of $97
- Cinema tickets of $53 include several outings for international releases
Note that Wichita, Kansas is a somewhat walkable city with a Walk Score of 63/100, which means you may need a car if you are living in the city center and you will probably need to use public transportation frequently.
Amount of Money Needed to Retire in Wichita, Kansas
Many people searching the internet for the cost of living in Wichita, Kansas are doing so to see if and when they can quit their jobs and retire. A popular and easy way to calculate your retirement number is using the 4% Rule.
The 4% Rule estimates that a person(s) could withdraw 4% of their retirement nest egg and never run out of money. Using this calculation, a couple would need an investment portfolio of $759,387 to live a moderate lifestyle in Wichita, Kansas.
Annual expenses of $30,375 ÷ 4% = $759,387 portfolio needed.
Of course, everyone’s financial situation is different, and the above calculation could change based on any other sources of passive income and social security income.
Overall, the cost of living in Wichita, Kansas is affordable coming in at $2,531 for a couple living a moderate lifestyle. Those seeking to retire could do so comfortably with a retirement portfolio of $759,387.