An Overview of Cost of Living in Hawaiian Gardens, CA
Are you thinking about relocating, but curious about the potential cost of living in Hawaiian Gardens? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Hawaiian Gardens stands at 140, making it 40% 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.
The cost of living in Hawaiian Gardens 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, Hawaiian Gardens falls into this category, which may not be suitable for those seeking an economically favorable living environment.
Housing costs make up a big chunk of the cost of living in Hawaiian Gardens, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 109.1% more than the average city. This includes stuff like home prices, rent, 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 Hawaiian Gardens, you can expect to pay 12% 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 Hawaiian Gardens, the news isn't any better as grocery prices are 13.1% higher than the national average.
Is Hawaiian Gardens Affordable?
Is Hawaiian Gardens affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Hawaiian Gardens, for instance, where the median home price falls 131.9% higher than the national average, and monthly rent rates are 55.8% higher than usual. Additionally, median income levels contribute to the equation, with Hawaiian Gardens flaunting a median household income of $61,422, 11% higher than the national norm.
What Factors can Influence the Cost of Living in Hawaiian Gardens?
Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Hawaiian Gardens starts at 7.25% and the income tax rates start at 1%.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Hawaiian Gardens, the groceries index is 13.1% higher than the national average.
Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Hawaiian Gardens, the utilities index is 5.9% lower than the national average.
Where is the Data From?
The cost of living data in Hawaiian Gardens 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.
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