An Overview of Cost of Living in Beaumont, CA
Are you thinking about relocating, but curious about the potential cost of living in Beaumont? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Beaumont stands at 128, making it 28% 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.
If you prioritize affordability when seeking a new place to live, Beaumont 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, Beaumont falls into this category, which may not align with your preferences for a budget-friendly living environment.
Housing costs are a major factor in the Beaumont 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 70% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
The things you purchase regularly, like clothes, haircuts, movie tickets and gym memberships, can make a big dent in your budget and make up 33% of the cost of living index. Unfortunately in Beaumont, these items will cost you 12% more than what's considered the norm, making it a more expensive place to call home.
Groceries are getting more expensive by the day and the cost of groceries makes up 13% of the overall cost of living index. In the past two years, prices have shot up by over 10%! Unfortunately, in Beaumont, it's the same story – grocery costs are 13.1% higher than what people pay across the country.
What Do Locals Say About the Cost of Living in Beaumont?
The most insightful perspective on a city comes from its residents. We recently surveyed 8 locals to gauge their perception of the cost of living in Beaumont. The feedback revealed that 25% of respondents found the cost of living to be reasonable, with prices on the decline, while 75% regarded it as notably expensive with prices that continue to rise.
Is Beaumont Affordable?
Is Beaumont 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 Beaumont is 83.4% higher than the national average, while the average monthly rent prices are 38.9% higher than average. The affordability of any location can also be influenced by median income levels. Beaumont has a median household income of $88,932, which is 60.8% higher than the national average.
What Factors can Influence the Cost of Living in Beaumont?
Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.
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 Beaumont, the healthcare costs are 1.2% lower than the national average.
Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Beaumont comes in at 5.9% lower than the national average.
Where is the Data From?
The cost of living data in Beaumont 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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