An Overview of Cost of Living in Davis, CA
The cost of living in Davis 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 Davis is 171, which is 71% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
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 Davis 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, Davis falls into this category, which may not align with your goal of finding a budget-friendly living environment.
Housing costs significantly influence the Davis cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 208.6%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.
What Do Locals Say About the Cost of Living in Davis?
The real experts on a city are its residents. That's why we reached out to 9 locals to get their views on the cost of living in Davis. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 33% found it budget-friendly with decreasing prices, while 67% said it's simply not affordable as prices have continued to rise.
Is Davis Affordable?
Is Davis an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Davis, the median home price is 265.9% higher than what most folks pay across the country, and monthly rent prices are 74.8% higher than the usual rates. Income levels in Davis come in at $75,394, which is 36.3% higher than the national average.
What Factors can Influence the Cost of Living in Davis?
Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.
Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Davis, the utilities index registers 14% higher than the national average.
Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as 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 farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.
Where is the Data From?
The cost of living data in Davis 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.
Here are the best places to live in California
Top 10 best public schools in Davis
10 Best cities in California for employment
See the best places to live in & around Davis