What is the cost of living in California?
The cost of living in California is 27.1% higher than the US average. According to MIT, the required living wage for a family of four with two working parents in California is $114,059 vs the national average for a family of four with two working parents of $89,744. The median income of a California household is $78,672.
The average home price in California is $538,500, which is higher than the US average home price of $229,800. Median rent in California is $1,586/mo which is higher than the US average rent of $1,096/mo. If you want to adjust homes prices to local incomes, the ratio of home prices to median household income is about 6.8 to 1. That means it takes roughly 6.8 years of a full salary to pay off a house. That compares to the national average of 3.5 to 1.
All in all, California has a high cost of living compared to America as a whole.
People Also Ask About California
Is California a dangerous state?
Yes, California is a dangerous state as it ranks as the #14 most dangerous state in the United States based on our analysis of the latest FBI Crime Data. The violent crime rate in California ranks 16th most dangerous in the United States -- 19.54% worse than US average violent crime rate. The property crime rate in the Golden State ranks 18th most dangerous in the United States -- 9.44% worse than US average property crime rate. The latest reporting year from the FBI was 2022.
Is Los Angeles, CA a dangerous city?
Yes, Los Angeles is a dangerous city. Los Angeles ranks as the #123 most dangerous out of 328 major cities over 100,000 people in the United States based on our analysis of the latest FBI Crime Data. Keep in mind that are always safe and dangerous parts of any city, so even though Los Angeles might be considered dangerous you still need to be aware of where you are. For example, Bel Air is the safest in Los Angeles, while Downtown is considered dangerous by many based on recent crime stats.
Compared to other big cities, the violent crime rate in Los Angeles ranks 63rd highest in America -- 50.69% worse than US average violent crime rate. The property crime rate in the ranks 148th highest in the United States -- 0.74% better than US average property crime rate. Note the latest reporting year from the FBI was 2022 and that no city in America is "dangerous". Despite the uptick in murders, it's nothing like you'd see in Tijuana or Caracas where the murder rate is 2x any American city.
What county in California has the lowest cost of living?
The county in California with the lowest cost of living is San Joaquin County. The average living wage in San Joaquin County is $101,058 according to MIT data. San Joaquin County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to California as a whole. Childcare costs $19,292 a year in San Joaquin County for two children compared to the California average of $22,259. Housing costs, defined as a blend of the average rent and average mortgage payment, are $15,240 per year in San Joaquin County compared to $23,682 on average in California.
What is the cheapest housing market in California?
The cheapest housing market in California is Clearlake. The average home value in Clearlake is $124,400, the lowest in the state. The average home value in California is $538,500, almost 4.3 times higher than Clearlake.