An Overview of Cost of Living in Victorville, CA
The cost of living in Victorville affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Victorville is 117, which is 17% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
Housing costs make up a big chunk of the cost of living in Victorville, 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 30.4% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Goods and services make up 33% of the total cost of living index score and are a large part of your everyday expenses. These items could include things like haircuts, salons, toothpaste, shampoo, clothes, movies, bowling, gym memberships or yoga. In Victorville, you can expect to pay 12% more than average for these items, making it a more expensive place to live.
The substantial and relentless rise in grocery prices definitely warrants some attention. Over the past two years, grocery expenses have escalated by more than 10%. Having said that, the situation in Victorville is even less favorable, with grocery prices here being 13.1% higher than the national average.
What Do Locals Say About the Cost of Living in Victorville?
Nobody knows their city better than the people who actually live there. So, we asked 13 local residents how they would rate the cost of living in Victorville and this is how they responded. 38% of people said that the cost of living was affordable, with prices decreasing, while 62% of people said that the cost of living was very expensive and prices continue to rise.
Is Victorville Affordable?
Wondering if Victorville 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 Victorville, for example, the median home price is 27.6% higher than what folks pay nationally, and monthly rent is 36.8% higher than the usual rates. Plus, income levels matter too, with Victorville boasting a median household income of $55,155, which is 0.3% lower than the national average.
What Factors can Influence the Cost of Living in Victorville?
Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Victorville, healthcare costs are 1.2% lower than the national average.
Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Victorville, the housing index stands at 30.4% higher than the national average.
Where is the Data From?
The cost of living in Victorville, 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.
Here are the best places to live in California
10 Best cities in California for employment
Top 10 cities in California with the best education system
See the best places to live in & around Victorville