F
25%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
59%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Los Banos California National
Cost of living125140100
Goods & Services104111100
Groceries104112100
Health care96109100
Housing159196100
Transportation120126100
Utilities140127100

An Overview of Cost of Living in Los Banos, CA

Getting a feel for the cost of living in Los Banos is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Los Banos is 125, which is 25% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

If you prioritize affordability when seeking a new place to live, Los Banos may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Los Banos falls into this category, which may not align with your preferences for a budget-friendly living environment.

Housing costs are a very significant part of the Los Banos cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 59.2% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

What Do Locals Say About the Cost of Living in Los Banos?

The real experts on a city are its residents. That's why we reached out to 5 locals to get their views on the cost of living in Los Banos. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 20% found it budget-friendly with decreasing prices, while 80% said it's simply not affordable as prices have continued to rise.

Is Los Banos Affordable?

Wondering if Los Banos is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Los Banos, for example, the median home price is 70.8% higher than what folks pay nationally, and monthly rent is 32% higher than the usual rates. Plus, income levels matter too, with Los Banos boasting a median household income of $64,567, which is 16.7% higher than the national average.

What Factors can Influence the Cost of Living in Los Banos?

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Los Banos, the utilities index is 40.4% higher than the national average.

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

Where is the Data From?

The cost of living in Los Banos, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Los Banos is 10% lower than the California average
  • The cost of living in Los Banos is 25% higher than the national average
  • Los Banos housing is 59% higher than the national average
  • California general sales tax is 42% higher than the national average
  • California state income tax is 56% lower than the national average

Most Affordable Places to Live in and Around Los Banos

See all the best places to live around Los Banos

Compare Los Banos, CA Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$75,555$6,296$1,763$2,267
      Renters$45,425$3,785$1,060$1,363
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Los Banos, CA, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Los Banos homeowners, is $75,555. This would allow for a maximum of $1,763 per month to be spent on housing costs. For renters, the median monthly income is $45,425 which would result in a maximum of $1,060 to be spent on rental costs.

      California Sales Tax

      State General Sales Tax With Max Surtax
      California 7.25% 10.5%

      California Income Tax

      State Income Tax (Low) Income Tax (High)
      California 1% 12.3%

      Goods & Services

      Item Los Banos National avg. Difference
      Haircut $26.83$24.2610.6%
      Beauty Salon $76.57$45.5668.0%
      Toothpaste $3.86$3.704.3%
      Shampoo $1.56$1.2821.9%
      Movie $14.64$12.1320.6%
      Bowling $23.78$18.0032.1%

      Groceries

      Item Los Banos National avg. Difference
      Ground Beef $6.21$5.846.3%
      Fried Chicken $2.10$1.5733.7%
      Milk $4.99$4.676.9%
      Potatoes $4.98$4.930.9%
      Pizza $15.69$12.0929.8%
      Beer $10.96$10.415.3%

      Health Care

      Item Los Banos National avg. Difference
      Optometrist $157.88$125.6825.6%
      Doctor $166.71$135.7822.8%
      Dentist $148.27$113.2930.9%
      Ibuprofen $11.69$10.659.8%
      Lipitor $498.45$468.606.4%

      Housing

      Item Los Banos National avg. Difference
      Home Price $315,500.00$184,700.0070.8%
      Avg. Mortgage Payment $4,545.90$2,346.6993.7%
      Apartment Rent $1,253.00$949.0032.0%

      Transportation

      Item Los Banos National avg. Difference
      Gasoline $4.63$3.4633.9%
      Tire Balancing $70.51$59.9217.7%

      Utilities

      Item Los Banos National avg. Difference
      All Electricity $299.78$193.9954.5%
      Phone $191.56$192.250.4%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Volta, CA13311110.7%
      Dos Palos Y, CA2061021.9%
      South Dos Palos, CA1,1671055.4%
      Dos Palos, CA5,26611313.3%
      Gustine, CA5,74811818.4%
      Los Banos, CA39,44312525.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Carol Stream, IL39,44711414.3%
      Plant City, FL39,437982.3%
      Meadow Woods, FL39,42411110.7%
      Lake Oswego, OR39,47616767.4%
      Keizer, OR39,40811818.3%
      Los Banos, CA39,44312525.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.