Paramount cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexParamountCaliforniaNational
Cost of living index118135100
IndexParamountCaliforniaNational
Goods & Services index105107100
Groceries index106117100
Health care index109109100
Housing index140189100
Transportation index120125100
Utilities index112116100
The above illustration supplies generalized information for the Paramount, CA cost of living index. Compared to other cities in California and cities across the country, the cost of living index in Paramount, CA is 118, which is 13% lower than the California average and 18% higher than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Paramount, CA are 1% lower than the average for California and 5% higher than the rest of the country.

Did you know?

  • The cost of living in Paramount is 13% lower than the California average.
  • The cost of living in Paramount is 18% higher than the national average.
  • The cost of housing in Paramount is 40% higher than the national average.
  • California general sales tax is 47% higher than the national average.
  • California state income tax is 55% lower than the national average.

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Compare Paramount, CA Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Cost of living index
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Groceries index
Health care index
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Transportation index
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Using the salary calculator lets you compare the salary you earn in Paramount, CA to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Paramount, CA, you have to earn a higher income in order to still have the same standard of living. To operate the Paramount, CA salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$56,074$4,673$1,308$1,682
Renters$37,210$3,101$868$1,116
If you want to find a good determining factor for the cost of living and the general affordability of housing in Paramount, CA, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Paramount, CA, the median monthly income is $56,074 for those who own their own homes. Under the standard rule, that income level would allow for $1,308 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $37,210, per the median income in the area. That would allow for renters to spend up to $868 on monthly rental expenses.

California Sales Tax

StateGeneral Sales TaxWith Max Surtax
California7.5%10%

California Income Tax

StateIncome Tax (Low)Income Tax (High)
California1%12.3%
One thing to keep in mind when considering the cost of living in Paramount, CA is the California sales tax and California income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The California sales tax rate is 7.5% and the maximum surtax that can be charged is 10%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The California income tax rates range from 1% to 12.3%.

Goods & Services

ItemParamountNational avg.Difference
Haircut $18.32$14.5925.5%
Beauty Salon $63.86$34.6884.1%
Toothpaste $2.90$2.4717.3%
Shampoo $1.11$1.028.6%
Movie $14.20$9.8743.9%
Bowling $6.63$4.3951.0%

Groceries

ItemParamountNational avg.Difference
Ground Beef $4.16$4.487.1%
Fried Chicken $1.74$1.4618.8%
Milk $2.62$2.3611.2%
Potatoes $2.99$3.062.3%
Pizza $8.00$9.2413.4%
Beer $9.38$8.638.7%

Health Care

ItemParamountNational avg.Difference
Optometrist $126.07$99.7826.3%
Doctor $97.27$105.037.4%
Dentist $110.00$88.7024.0%
Ibuprofen $12.16$9.4129.2%
Lipitor $280.93$298.505.9%

Housing

ItemParamountNational avg.Difference
Home Price $253,900.00$175,700.0044.5%
Avg. Mortgage Payment $2,080.63$1,081.0392.5%
Apartment Rent $1,179.00$920.0028.2%

Transportation

ItemParamountNational avg.Difference
Gasoline $2.63$2.0925.7%
Tire Balancing $46.96$45.293.7%

Utilities

ItemParamountNational avg.Difference
All Electricity$183.94$170.807.7%
Phone $33.30$28.2617.8%
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, StatePopulationCost of Living IndexNational Avg.
Vernon, CA591033%
Willowbrook, CA20,89711313%
Florence-Graham, CA62,81511414%
Cudahy, CA24,07311414%
Compton, CA97,66311515%
Paramount, CA54,81311818%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Weymouth Town, MA54,81513737%
Hempstead, NY54,80114848%
The Hammocks, FL54,83311313%
South Hill, WA54,87811616%
Corvallis, OR54,73512020%
Paramount, CA54,81311818%
Source: The Paramount, CA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.