Cost of Living in Cameron Park, CA

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An Overview of Cost of Living in Cameron Park, CA

Understanding the cost of living in Cameron Park can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Cameron Park cost of living index is 145, which is 45% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

If you prioritize affordability when seeking a new place to live, Cameron Park 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, Cameron Park 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 Cameron Park 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 122.2% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Is Cameron Park Affordable?

Wondering if Cameron Park 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 Cameron Park, for example, the median home price is 151.9% higher than what folks pay nationally, and monthly rent is 53% higher than the usual rates. Plus, income levels matter too, with Cameron Park boasting a median household income of $77,014, which is 39.2% higher than the national average.

What Factors can Influence the Cost of Living in Cameron Park?

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.

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Cameron Park, the groceries index is 8.2% higher 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 Cameron Park comes in at 14% higher than the national average.

Where is the Data From?

The Cameron Park cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

Most Affordable Places to Live in and Around Cameron Park

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Median Income & Debt-To-Income Ratio

A good way to judge both the affordability of the housing and the cost of living in Cameron Park is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Cameron Park has a median income of about $96,932 for people who own homes. Based on that number, a maximum of $2,262 should be spent on expenses related to housing. Renters have a slightly different median income, which is $54,273. Based on this average, renters should spend no more than $1,266 on all rental costs if they want to maintain a non-impoverished standard of living.

California Sales Tax

California Income Tax

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Utilities

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.

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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.