An Overview of Cost of Living in Arden-Arcade, CA
Knowing the cost of living in Arden-Arcade allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Arden-Arcade stands at 133, marking it 33% higher than the national average.
If you value affordability in your search for a new place to live, Arden-Arcade may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Arden-Arcade falls into this category, which may not align with your desire for an affordable place to call home.
Housing costs are a major factor in the Arden-Arcade cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 82.8% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
Is Arden-Arcade Affordable?
Is Arden-Arcade an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Arden-Arcade is 109.3% higher than the national average, while the average monthly rent prices are 20.9% higher than average. The affordability of any location can also be influenced by median income levels. Arden-Arcade has a median household income of $52,694, which is 4.8% lower than the national average.
What Factors can Influence the Cost of Living in Arden-Arcade?
Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Arden-Arcade, the healthcare costs are 13.1% higher than the national average.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Arden-Arcade, the groceries index is 8.2% higher than the national average.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Arden-Arcade, the baseline sales tax rate begins at 7.25%, and income tax rates start at 1%.
Where is the Data From?
The cost of living data in Arden-Arcade displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.
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