Granite Bay, California Cost Of Living

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Overall 71%

Goods & Services 7%

Housing 205%

Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; 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	Granite Bay	California	National
Cost of living	171	140	100
Goods & Services	107	111	100
Groceries	121	118	100
Health care	117	113	100
Housing	305	196	100
Transportation	134	128	100
Utilities	102	118	100

Key findings

The cost of living in Granite Bay is 22% higher than the California average
The cost of living in Granite Bay is 71% higher than the national average
Granite Bay housing is 205% higher than the national average
California general sales tax is 42% higher than the national average
California state income tax is 59% lower than the national average

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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	$127,793	$10,649	$2,982	$3,834
Renters	$54,550	$4,546	$1,273	$1,637

The affordability of the housing market in Granite Bay, CA as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Granite Bay homeowners, the median income is $127,793. This indicates that a monthly maximum of $2,982 should be spent by homeowners on all housing related costs. Renters have a median income of $54,550. This indicates that renters would have a maximum of $1,273 for their rent related monthly 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	Granite Bay	National avg.	Difference
Haircut	$26.80	$17.49	53.2%
Beauty Salon	$55.40	$38.17	45.1%
Toothpaste	$2.94	$2.32	26.7%
Shampoo	$1.48	$1.01	46.3%
Movie	$12.78	$10.72	19.2%
Bowling	$18.00	$13.86	29.9%

Groceries

Item	Granite Bay	National avg.	Difference
Ground Beef	$4.29	$3.90	10.0%
Fried Chicken	$1.47	$1.40	5.3%
Milk	$2.57	$1.96	31.0%
Potatoes	$2.96	$3.18	7.0%
Pizza	$15.19	$10.39	46.1%
Beer	$9.66	$9.23	4.7%

Health Care

Item	Granite Bay	National avg.	Difference
Optometrist	$131.29	$106.34	23.5%
Doctor	$155.00	$115.25	34.5%
Dentist	$107.22	$98.38	9.0%
Ibuprofen	$11.92	$9.26	28.7%
Lipitor	$491.23	$466.47	5.3%

Housing

Item	Granite Bay	National avg.	Difference
Home Price	$657,400.00	$184,700.00	255.9%
Avg. Mortgage Payment	$1,623.46	$1,273.32	27.5%
Apartment Rent	$1,765.00	$949.00	86.0%

Transportation

Item	Granite Bay	National avg.	Difference
Gasoline	$3.73	$2.59	43.7%
Tire Balancing	$60.10	$48.90	22.9%

Utilities

Item	Granite Bay	National avg.	Difference
All Electricity	$171.58	$167.60	2.4%
Phone	$183.90	$163.42	12.5%

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, State	Population	Cost of Living Index	National Avg.
McClellan Park, CA	1,093	98	-2%
North Highlands, CA	46,841	106	6%
Foothill Farms, CA	33,384	109	9%
Rio Linda, CA	14,938	113	13%
Rancho Cordova, CA	69,482	114	14%
Granite Bay, CA	22,840	171	71%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Marysville, OH	22,860	94	-6%
Palm River-Clair Mel, FL	22,860	89	-11%
Bethany, OR	22,819	144	44%
Radcliff, KY	22,806	90	-10%
Griffin, GA	22,875	92	-8%
Granite Bay, CA	22,840	171	71%

Source: The Granite Bay, CA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.

Granite Bay, CA Cost of Living

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