F
49%
Overall NAT. AVG.
12%
Goods & Services NAT. AVG.
140%
Housing NAT. AVG.
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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.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Corona California National
Cost of living149140100
Goods & Services112111100
Groceries113112100
Health care99109100
Housing240196100
Transportation124126100
Utilities94127100

An Overview of Cost of Living in Corona, CA

Knowing the cost of living in Corona allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Corona stands at 149, marking it 49% higher than the national average.

If you value affordability in your search for a new place to live, Corona may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Corona falls into this category, which may not align with your desire for an affordable place to call home.

Housing costs are a major factor in the Corona 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 140% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Recurring essentials like haircuts, toothpaste, and entertainment, from movies to gym sessions, can really add up in your budget and make up 33% of the cost of living index. In Corona, you you will have to spend 12% more than average when compared to the typical prices for these items, making it a more expensive place to live.

The cost of groceries continues to rise at an alarming rate. Over the last two years, grocery prices have increased by more than 10%! Unfortunately, in Corona, the news isn't any better as grocery prices are 13.1% higher than the national average.

Is Corona Affordable?

Wondering if Corona 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 Corona, for example, the median home price is 165.8% higher than what folks pay nationally, and monthly rent is 79.7% higher than the usual rates. Plus, income levels matter too, with Corona boasting a median household income of $88,434, which is 59.9% higher than the national average.

What Factors can Influence the Cost of Living in Corona?

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Corona, healthcare costs are 1.2% lower than the national average.

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 Corona, is 140% higher than the national average.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Corona, the groceries index registers 13.1% higher than the national average.

Where is the Data From?

The Corona 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Corona is 7% higher than the California average
  • The cost of living in Corona is 49% higher than the national average
  • Corona housing is 140% higher than the national average
  • California general sales tax is 42% higher than the national average
  • California state income tax is 56% lower than the national average

Most Affordable Places to Live in and Around Corona

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Compare Corona, CA Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$113,256$9,438$2,642$3,398
      Renters$58,538$4,878$1,366$1,756
      To approximate the cost of living and the housing affordability in Corona, CA, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Corona have a median income of $113,256. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,642 per month to avoid calamity and poverty. The renters in the city have an income of about $58,538, which would make their monthly maximum allowable rental costs $1,366.

      California Sales Tax

      State General Sales Tax With Max Surtax
      California 7.25% 10.5%

      California Income Tax

      State Income Tax (Low) Income Tax (High)
      California 1% 12.3%

      Goods & Services

      Item Corona National avg. Difference
      Haircut $27.27$24.2612.4%
      Beauty Salon $41.78$45.568.3%
      Toothpaste $3.61$3.702.6%
      Shampoo $1.34$1.284.9%
      Movie $11.04$12.139.0%
      Bowling $21.11$18.0017.3%

      Groceries

      Item Corona National avg. Difference
      Ground Beef $5.89$5.840.8%
      Fried Chicken $3.49$1.57121.9%
      Milk $4.92$4.675.4%
      Potatoes $4.92$4.930.3%
      Pizza $15.31$12.0926.6%
      Beer $10.26$10.411.4%

      Health Care

      Item Corona National avg. Difference
      Optometrist $112.92$125.6810.2%
      Doctor $95.50$135.7829.7%
      Dentist $117.28$113.293.5%
      Ibuprofen $10.58$10.650.7%
      Lipitor $521.17$468.6011.2%

      Housing

      Item Corona National avg. Difference
      Home Price $491,000.00$184,700.00165.8%
      Avg. Mortgage Payment $2,441.43$2,346.694.0%
      Apartment Rent $1,705.00$949.0079.7%

      Transportation

      Item Corona National avg. Difference
      Gasoline $4.75$3.4637.3%
      Tire Balancing $61.38$59.922.4%

      Utilities

      Item Corona National avg. Difference
      All Electricity $378.97$193.9995.4%
      Phone $180.31$192.256.2%
      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 Population Cost of Living Index National Avg.
      Warm Springs, CA1,44511414.4%
      Colton, CA54,21512222.2%
      Bloomington, CA21,90712524.6%
      Lakeland Village, CA12,36212928.6%
      El Sobrante CDP (Contra Costa County), CA12,96313030.1%
      Corona, CA168,11214949.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Springfield, MO167,6018416.4%
      Cary, NC169,17712424.3%
      Fort Collins, CO166,06912727.5%
      Eugene, OR170,45711717.2%
      Greater Sudbury, ON165,562n/a 
      Corona, CA168,11214949.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.