Fullerton cost of living index

An overview of the general cost of living index for Fullerton, CA is displayed above for your reference. Residents in Fullerton, CA enjoy a cost of living index of 154. This index is 12% higher than the California average, and 54% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Fullerton, CA, the average cost of goods and services is 1% lower than it is in California, and it is 8% higher than the national average.

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Salary Calculator

The salary calculator is used in order to provide a comparison of your current salary in Fullerton, CA to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Fullerton, CA, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Fullerton, CA salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Fullerton, CA as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Fullerton, CA homeowners, is $97,332. This would allow for a maximum of $2,271 per month to be spent on housing costs. For renters, the median monthly income is $47,719 which would result in a maximum of $1,113 to be spent on rental costs.

California Sales Tax

California Income Tax

When assessing the complete cost of living in Fullerton, CA, the California income tax and the California sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The California maximum surtax is 10.25%, and the California sales tax is 7.25%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 1% to 13.3% in California.

Goods & Services

Groceries

Health Care

Housing

Transportation

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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Source: The Fullerton, CA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.