Travel Nurse Cost of Living Guide 2025: How to Maximize Your Take-Home Pay

Understanding cost of living is crucial for travel nurses. A high-paying contract in an expensive city may leave you with less money than a moderate-paying contract in an affordable area. This guide shows you how to calculate your true discretionary income and make informed decisions about assignments.

Why Cost of Living Matters

Cost of living significantly impacts your true take-home pay. Consider this example:

• Contract A: $3,200/week in San Francisco (rent: $2,500/month)
• Contract B: $2,600/week in Tulsa (rent: $900/month)

After rent, Contract A leaves you with approximately $6,800/month while Contract B leaves you with $7,400/month. The lower-paying contract actually puts more money in your pocket!

True Discretionary Income

True discretionary income = Net Monthly Pay - Average Rent

This is the money you actually have left after covering housing costs. It’s the most important metric for comparing contracts.

How to Calculate Cost of Living

Step 1: Calculate Your Net Monthly Pay

Use our pay calculator to determine your net weekly pay, then multiply by 4.33 (average weeks per month):

Net Monthly Pay = Net Weekly Pay × 4.33

Step 2: Research Average Rent

Research average rent for a 1-bedroom apartment in your assignment city. Our city pay guides include average rent data for major US cities.

Step 3: Calculate True Discretionary Income

True Discretionary Income = Net Monthly Pay - Average Rent

Step 4: Compare Contracts

Compare true discretionary income across different contracts, not just gross pay. Use our cost of living calculator to see this automatically.

Cost of Living by Region

High Cost of Living Areas

West Coast:

• California (Los Angeles, San Francisco, San Diego)
• Washington (Seattle)
• Oregon (Portland)
• Hawaii (Honolulu)

East Coast:

• New York (NYC, Long Island)
• Massachusetts (Boston)
• Washington, DC
• Maryland (Baltimore)

Characteristics:

• Average rent: $1,800-$3,000/month
• Cost of living index: 130-200+
• High-paying contracts often required
• Need to factor in additional expenses (parking, utilities)

Strategy: Negotiate for higher pay and stipends. Consider shared housing or slightly further locations.

Moderate Cost of Living Areas

South:

• Texas (Houston, Dallas, Austin)
• Florida (Tampa, Jacksonville)
• Georgia (Atlanta)
• North Carolina (Charlotte, Raleigh)

Midwest:

• Illinois (Chicago)
• Ohio (Columbus, Cleveland)
• Michigan (Detroit)
• Minnesota (Minneapolis)

Characteristics:

• Average rent: $1,100-$1,500/month
• Cost of living index: 90-110
• Good balance of pay and expenses
• More housing options

Strategy: These areas often offer the best value - good pay with reasonable costs.

Low Cost of Living Areas

South:

• Alabama (Birmingham)
• Mississippi (Jackson)
• Arkansas (Little Rock)
• Oklahoma (Oklahoma City, Tulsa)

Midwest:

• Kansas (Wichita)
• Nebraska (Omaha)
• Iowa (Des Moines)
• Missouri (Kansas City)

Characteristics:

• Average rent: $800-$1,100/month
• Cost of living index: 80-95
• Lower pay rates but expenses are low
• Can save significant money

Strategy: Great for building savings. Your pay goes further here.

Cost of Living Index Explained

The cost of living index compares living costs to the national average (100).

• Below 100: Lower than average
• 100: National average
• Above 100: Higher than average

Example:

• Index of 150 = 50% more expensive than average
• Index of 85 = 15% cheaper than average

Tips for Managing Cost of Living

1. Research Before Accepting

• Check average rent on city pay guides
• Factor in utilities, parking, and other expenses
• Use our cost of living calculator to see true discretionary income

2. Negotiate Based on Cost of Living

• If COL is high, negotiate for higher pay or stipends
• Use cost of living data to justify requests
• Compare true discretionary income, not gross pay

3. Consider Housing Options

• Furnished apartments: Convenient but expensive
• Room rentals: More affordable, less privacy
• Extended stays: Can get better rates for longer stays
• Slightly further locations: Lower rent, longer commute

4. Factor in All Expenses

Beyond rent, consider:

• Utilities (electric, gas, water, internet)
• Parking fees
• Transportation costs
• Food costs (varies by city)
• Entertainment and lifestyle expenses

5. Use Cost of Living for Savings Goals

• High COL areas: Focus on experience and building resume
• Low COL areas: Great for aggressive savings goals
• Moderate COL areas: Balance of both

Using Our Tools

Our pay calculator with cost of living analysis shows:

• Monthly net income
• Average rent for your assignment location
• True discretionary income (income minus rent)
• Rent percentage of income (warnings if >40%)
• Cost of living index comparison

Use this to:

• Compare contracts accurately
• Make informed decisions about assignments
• Maximize your true take-home pay
• Plan for savings goals

Real-World Examples

Example 1: High COL vs Low COL

San Francisco Contract:

• Gross: $3,500/week
• Net: $2,800/week
• Net Monthly: $12,124
• Average Rent: $2,800/month
• True Discretionary Income: $9,324/month

Tulsa Contract:

• Gross: $2,600/week
• Net: $2,200/week
• Net Monthly: $9,526
• Average Rent: $900/month
• True Discretionary Income: $8,626/month

Difference: Only $698/month more in San Francisco despite $900/week more gross pay!

Example 2: Moderate COL Winner

Dallas Contract:

• Gross: $2,800/week
• Net: $2,300/week
• Net Monthly: $9,959
• Average Rent: $1,300/month
• True Discretionary Income: $8,659/month

Better than both high and low COL examples above!

Conclusion

Cost of living is one of the most important factors in maximizing your travel nurse earnings. By calculating true discretionary income and comparing contracts accurately, you can make informed decisions that put more money in your pocket.

Key Takeaways:

• Always factor in cost of living when comparing contracts
• Calculate true discretionary income (net pay minus rent)
• Use our cost of living calculator for accurate comparisons
• Consider all expenses, not just rent
• High COL areas require higher pay to be worthwhile
• Low COL areas are great for savings goals

Remember: The highest-paying contract isn’t always the best deal. Use our tools to see your true take-home pay and make informed decisions.

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Related Resources:

• Pay Calculator with Cost of Living - Calculate your true discretionary income
• City Pay Guides - Compare cost of living by city
• State Pay Guides - Compare cost of living by state
• Compare States Tool - Side-by-side state comparison
• Housing Guide - Finding affordable housing

Last updated: January 2025