An Overview of Cost of Living in San Jacinto, CA
Are you thinking about relocating, but curious about the potential cost of living in San Jacinto? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in San Jacinto stands at 120, making it 20% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
Housing costs make up a big chunk of the cost of living in San Jacinto, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 40.5% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Recurring goods and services expenses like haircuts, toothpaste, gym memberships and movie nights are a big part of your spending and make up 33% of the cost of living index. In San Jacinto, these items will cost you 12% more than what most folks pay, making it a bit more expensive to live here.
The relentless increase in grocery prices is a noteworthy trend. In the last two years, grocery costs have experienced an upward trajectory of over 10%. Unfortunately, San Jacinto is no exception, where grocery prices are 13.1% above the national average.
What Do Locals Say About the Cost of Living in San Jacinto?
Locals have the inside scoop on their city. So, we polled 11 residents in San Jacinto to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 0% find it reasonable with decreasing prices, but 100% think it's quite pricey, with prices that continue to rise.
Is San Jacinto Affordable?
Wondering if San Jacinto 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 San Jacinto, for example, the median home price is 44.3% higher than what folks pay nationally, and monthly rent is 31.7% higher than the usual rates. Plus, income levels matter too, with San Jacinto boasting a median household income of $56,933, which is 2.9% higher than the national average.
What Factors can Influence the Cost of Living in San Jacinto?
Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in San Jacinto, is 40.5% higher than the national average.
Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum 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 farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In San Jacinto, the transportation index is 23.9% higher than the national average.
Where is the Data From?
The cost of living data in San Jacinto 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.
Here are the best places to live in California
Check out the 10 safest cities in California
See the best places to live in & around San Jacinto
10 Best cities in California for employment