| Index | Covina | California | National |
| Cost of living | 158 | 141 | 100 |
| Groceries | 112 | 111 | 100 |
| Health care | 113 | 116 | 100 |
| Housing | 257 | 197 | 100 |
| Transportation | 116 | 118 | 100 |
| Utilities | 116 | 119 | 100 |
| Lifestyle & Entertainment | 118 | 120 | 100 |
| Household Items | 110 | 111 | 100 |
| Education & Childcare | 124 | 127 | 100 |
Knowing the cost of living in Covina 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 Covina stands at 158, marking it 58% higher than the national average.
If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Covina is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Covina falls into this category, which may not align with your goal of finding a budget-friendly living environment.
Housing costs are a major factor in the Covina 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 156.6% 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 surge in grocery costs is indeed alarming, especially when groceries make up a large portion of your monthly expenditures. Over the past two years, there has been an inflation of over 10% in grocery prices. Unfortunately, Covina does not fare better, with grocery expenses coming in at 11.6% higher than the national average.
The most insightful perspective on a city comes from its residents. We recently surveyed 33 locals to gauge their perception of the cost of living in Covina. The feedback revealed that 82% of respondents found the cost of living to be reasonable, with prices on the decline, while 18% regarded it as notably expensive with prices that continue to rise.
Wondering if Covina 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 Covina, for example, the median home price is 195.4% higher than what folks pay nationally, and monthly rent is 66.1% higher than the usual rates. Plus, income levels matter too, with Covina boasting a median household income of $116,968, which is 43.8% higher than the national average.
Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety 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 farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.
Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday household expenses, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Covina, the standard sales tax rate starts at 7.25%, and the income tax rates commence at 1%.
Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.
The cost of living data for Covina shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $146,642 | $12,220 | $3,421 | $4,400 |
| Renters | $84,632 | $7,053 | $1,975 | $2,539 |
| State | General Sales Tax | With Max Surtax |
| California | 7.25% | 10.5% |
| State | Income Tax (Low) | Income Tax (High) |
| California | 1% | 13.3% |
| City | Population | Cost of Living Index | National Avg. |
| Industry, CA | 269 | 137 | 37.1% |
| Montclair, CA | 41,014 | 139 | 38.5% |
| South San Jose Hills, CA | 19,654 | 142 | 42.0% |
| Ontario, CA | 185,250 | 143 | 43.4% |
| Pomona, CA | 156,853 | 145 | 45.3% |
| Covina, CA | 49,338 | 158 | 57.5% |
| City | Population | Cost of Living Index | National Avg. |
| Roswell, NM | 49,357 | 89 | 10.8% |
| Sheboygan, WI | 49,294 | 90 | 10.4% |
| Jeffersonville, IN | 49,450 | 93 | 7.0% |
| Wauwatosa, WI | 49,450 | 108 | 7.5% |
| Ceres, CA | 49,472 | 125 | 25.4% |
| Covina, CA | 49,338 | 158 | 57.5% |
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