F
32%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
73%
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 Galt California National
Cost of living132140100
Goods & Services108111100
Groceries107112100
Health care102109100
Housing173196100
Transportation122126100
Utilities142127100

An Overview of Cost of Living in Galt, CA

Getting a feel for the cost of living in Galt is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Galt is 132, which is 32% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

The cost of living in Galt is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Galt falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs are a major factor in the Galt 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 73.1% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

What Do Locals Say About the Cost of Living in Galt?

The most insightful perspective on a city comes from its residents. We recently surveyed 12 locals to gauge their perception of the cost of living in Galt. The feedback revealed that 50% of respondents found the cost of living to be reasonable, with prices on the decline, while 50% regarded it as notably expensive with prices that continue to rise.

Is Galt Affordable?

Is Galt affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Galt, the median home price is 93.1% higher than the national average and monthly rent prices are 26.2% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Galt boasting a median household income of $73,969, 33.7% higher than the national average.

What Factors can Influence the Cost of Living in Galt?

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.

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Galt, the transportation index is 21.7% higher than the national average.

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Galt, the general sales tax rate starts at 7.25%, and income tax rates begin at 1%.

Where is the Data From?

The Galt 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 Galt is 6% lower than the California average
  • The cost of living in Galt is 32% higher than the national average
  • Galt housing is 73% higher than the national average
  • California general sales tax is 42% higher than the national average
  • California state income tax is 61% lower than the national average

Most Affordable Places to Live in and Around Galt

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Compare Galt, CA Cost of Living

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      Salary Calculator

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      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$91,250$7,604$2,129$2,738
      Renters$45,192$3,766$1,054$1,356
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Galt, 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 Galt homeowners, is $91,250. This would allow for a maximum of $2,129 per month to be spent on housing costs. For renters, the median monthly income is $45,192 which would result in a maximum of $1,054 to be spent on rental costs.

      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% 13.3%

      Goods & Services

      Item Galt National avg. Difference
      Haircut $23.42$24.263.5%
      Beauty Salon $49.62$45.568.9%
      Toothpaste $3.64$3.701.6%
      Shampoo $1.50$1.2817.0%
      Movie $13.61$12.1312.2%
      Bowling $22.34$18.0024.1%

      Groceries

      Item Galt National avg. Difference
      Ground Beef $6.24$5.846.9%
      Fried Chicken $2.10$1.5733.8%
      Milk $4.83$4.673.5%
      Potatoes $4.43$4.9310.3%
      Pizza $16.78$12.0938.8%
      Beer $10.08$10.413.2%

      Health Care

      Item Galt National avg. Difference
      Optometrist $138.22$125.6810.0%
      Doctor $134.39$135.781.0%
      Dentist $117.52$113.293.7%
      Ibuprofen $10.68$10.650.3%
      Lipitor $494.99$468.605.6%

      Housing

      Item Galt National avg. Difference
      Home Price $356,700.00$184,700.0093.1%
      Avg. Mortgage Payment $3,173.44$2,346.6935.2%
      Apartment Rent $1,198.00$949.0026.2%

      Transportation

      Item Galt National avg. Difference
      Gasoline $4.21$3.4621.5%
      Tire Balancing $73.10$59.9222.0%

      Utilities

      Item Galt National avg. Difference
      All Electricity $327.22$193.9968.7%
      Phone $189.16$192.251.6%
      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.
      Acampo, CA26111414.2%
      Hood, CA28911211.6%
      Clarksburg, CA36611211.6%
      Freeport, CA7011211.6%
      Terminous, CA40011515.3%
      Galt, CA26,23513231.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Clarksburg, MD26,23415352.9%
      Superior, WI26,260945.6%
      Plainview, NY26,26716766.6%
      Smithtown, NY26,19715655.6%
      Orchards, WA26,28912525.5%
      Galt, CA26,23513231.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.