An Overview of Cost of Living in Glendale, CA
Are you thinking about relocating, but curious about the potential cost of living in Glendale? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Glendale stands at 191, making it 91% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
If you're in pursuit of an economical living environment, Glendale may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Glendale falls within this bracket.
Housing costs are a very significant part of the Glendale cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 265.4% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.
Goods and services make up 33% of the total cost of living index score and are a large part of your everyday expenses. These items could include things like haircuts, salons, toothpaste, shampoo, clothes, movies, bowling, gym memberships or yoga. In Glendale, you can expect to pay 16.2% more than average 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 Glendale, the news isn't any better as grocery prices are 12.2% higher than the national average.
What Do Locals Say About the Cost of Living in Glendale?
Nobody knows their city better than the people who actually live there. So, we asked 21 local residents how they would rate the cost of living in Glendale and this is how they responded. 52% of people said that the cost of living was affordable, with prices decreasing, while 48% of people said that the cost of living was very expensive and prices continue to rise.
Is Glendale Affordable?
Is Glendale 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 Glendale, the median home price is 344.8% higher than the national average and monthly rent prices are 80.3% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Glendale boasting a median household income of $70,596, 27.6% higher than the national average.
What Factors can Influence the Cost of Living in Glendale?
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 Glendale, the transportation index is 24.3% higher than the national average.
Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Glendale, the housing index comes in at 265.4% higher than the national average.
Where is the Data From?
The cost of living in Glendale, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.
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