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Cost of Living in US for H1B Visa Holders

Dollar dreams – As we know US is the dream place to live in the entire world, most of the people plan to go to the US from their college level and some of them even from school. Most of the Indians go to the US by H1B Visa to work there and to earn more & more Dollars and to get settled in the US. This article is for the ones who are planning to go to US on H1B Visa, through this article we are providing the real facts about the cost of living in the US who are residing in the US on H1B.

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H1B Life in USA:

The United States of America constitutes 50 States, 14 Territories and a Federal District. The Cost of living in the US varies from one State to another because the Accommodation, Tax rates( some States collect both State Tax and Federal Tax), Insurance premiums will differ from State to State. The ones who are staying in New York and other rich States the cost of living will be more whereas the ones are in Texas, Dallas etc.

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H1B Pay:

Before calculating the monthly expenses you need to be aware of your salary first, for example if you have got the job in America and your pay per annum is $1,00,000. Don’t keep the expectations like you will be getting the full salary like around $8333 per month, like in India the Americans also deduct the Salary in the form Taxes and Insurance. What ever the pay decided by the employer will be the Gross pay and the net pay you may get around $6500 to $7000 per month after the deductions.

Insurance:

The deductions vary from person to person and State to State because you may have greater insurance requirement in that case the deduction may increase. The Companies provide insurance for full time employees and part time employees but it will be basic or standard insurance. If your company is not providing any insurance and if you are planning for a family of 3 members then it may cost you around $1300 to $1500 per month.

Accommodation:

Besides insurance other expensive thing in the US is accommodation, earlier it was less but nowadays it has become too expensive.  The person with less salary cannot afford individual house because it may cost you around $3000 to $4000 per month, and the best alternative is apartment. The normal rent starts from $1500 per month and it varies State to State but on an average a ok apartment can cost you $1500 per month. If you are a single person you can go for single bed flat but if you have wife and a kid then 2 bed apartment is feasible which may cost you around $2000 per month.

Staying Away from the City:

It is one of the best alternatives for accommodation because you may get large house at low cost but it has a disadvantage of commute. If you plan to stay away from the city then you must travel either by car or by a metro which costs you again. You can choose the accommodation depending on the size of the family and the distance.

Rental Insurance:

You need to pay the rental insurance in the US, a minimum of $10 may cost you as rental insurance.

Car:

After the accommodation now it’s the turn for car, depending on your convenience and the financial background you may buy the new or the old one but for both of them you have to pay through the EMI’s. for example if you are planning for a medium range car, in that case, you may need to pay the EMI of $500 per month.

Car Insurance:

Once after taking the car you need to pay the insurance for the car. If you are planning for a minimum cover car insurance then you should be prepared to pay a premium of $140 to $150 per month.

Utility Bills:

Utility bills, one of the most important utility bills is power bill, in the US you have to choose the power consumption plan for the year, like 1000 KW for 1 year or 2000 KW for 2 years etc. 1000 KW power is enough for a family of four members, so if you chose this plan then you need to pay a power bill of $200 per month.

TV:

Like in India, in the US also we need to pay the cable bill, it may cost you around $20 a month, I am talking about the basic one, it may increase depending on your requirement.

Internet:

It may cost you around $50 to $60 per month depending on your requirement and the area you are staying in.

Groceries:

It depends on the size of your family, a small family like husband, wife, and a kid may cost you around $250 to $300 per month.

Monthly Expenses:      

The average monthly expenses in the US for a H1B Visa holder, if he/ she leads a normal life. If you are getting a salary of $8000 per month in that case, the deductions of your salary in the form of taxes and insurance will be around $1500, and you have to spend a $3000 more for living in the US. This is an average expenditure per month in a normal where the person leads a normal life. If you get a pay of $8000 per month then you may save $3500 per month if you lead a normal life.

S.NO Monthly Expenses Cost in Dollars Average Cost in Dollars
1 Deductions (Tax, Insurance, etc) 1300 to 1500 1500
2 Accommodation 1500 to 2000 1500
3 Car 500 500
4 Car Insurance 150 to 200 150
5 Power Bill 200 to 250 200
6 Internet 50 to 60 50
7 TV 20 20
8 Rental Insurance 10 10
9 Groceries 250 to 300 250

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