F
98%
Overall NAT. AVG.
12%
Goods & Services NAT. AVG.
303%
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 Irvine California National
Cost of living198140100
Goods & Services112111100
Groceries113112100
Health care99109100
Housing403196100
Transportation124126100
Utilities94127100

An Overview of Cost of Living in Irvine, CA

Getting a feel for the cost of living in Irvine 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 Irvine is 198, which is 98% 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 Irvine 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, Irvine falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs are a very significant part of the Irvine 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 303.2% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Everyday goods and services make up 33% of the cost of living index and include things like clothing, personal hygiene products and entertainment which are a large portion of your monthly expenditures. Unfortunately, Irvine goods and services are 12% more expensive than the national average, leaving you with less money at the end of the month.

Groceries are getting more expensive by the day and the cost of groceries makes up 13% of the overall cost of living index. In the past two years, prices have shot up by over 10%! Unfortunately, in Irvine, it's the same story – grocery costs are 13.1% higher than what people pay across the country.

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

When it comes to knowing a city, its residents are the experts. We conducted a survey with 51 locals to understand their opinions on the cost of living in Irvine. The results indicated that 33% found it reasonably priced with decreasing prices of goods and services, while 67% viewed it as quite expensive, with increasing prices.

Is Irvine Affordable?

Is Irvine an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Irvine is 366.5% higher than the national average, while the average monthly rent prices are 155.5% higher than average. The affordability of any location can also be influenced by median income levels. Irvine has a median household income of $108,318, which is 95.8% higher than the national average.

What Factors can Influence the Cost of Living in Irvine?

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 Irvine, the utilities index is 5.9% lower than the national average.

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Irvine, the transportation index is 23.9% higher than the national average.

Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.

Where is the Data From?

The cost of living in Irvine, 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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Cost Of Living Quick Facts

  • The cost of living in Irvine is 42% higher than the California average
  • The cost of living in Irvine is 98% higher than the national average
  • Irvine housing is 303% 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 Irvine

See all the best places to live around Irvine

Compare Irvine, CA Cost of Living

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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$141,087$11,757$3,292$4,233
      Renters$86,626$7,219$2,021$2,599
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Irvine, 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 Irvine homeowners, is $141,087. This would allow for a maximum of $3,292 per month to be spent on housing costs. For renters, the median monthly income is $86,626 which would result in a maximum of $2,021 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 Irvine National avg. Difference
      Haircut $27.27$24.2612.4%
      Beauty Salon $41.78$45.568.3%
      Toothpaste $3.61$3.702.6%
      Shampoo $1.34$1.284.9%
      Movie $11.04$12.139.0%
      Bowling $21.11$18.0017.3%

      Groceries

      Item Irvine National avg. Difference
      Ground Beef $5.89$5.840.8%
      Fried Chicken $3.49$1.57121.9%
      Milk $4.92$4.675.4%
      Potatoes $4.92$4.930.3%
      Pizza $15.31$12.0926.6%
      Beer $10.26$10.411.4%

      Health Care

      Item Irvine National avg. Difference
      Optometrist $112.92$125.6810.2%
      Doctor $95.50$135.7829.7%
      Dentist $117.28$113.293.5%
      Ibuprofen $10.58$10.650.7%
      Lipitor $521.17$468.6011.2%

      Housing

      Item Irvine National avg. Difference
      Home Price $861,700.00$184,700.00366.5%
      Avg. Mortgage Payment $2,441.43$2,346.694.0%
      Apartment Rent $2,425.00$949.00155.5%

      Transportation

      Item Irvine National avg. Difference
      Gasoline $4.75$3.4637.3%
      Tire Balancing $61.38$59.922.4%

      Utilities

      Item Irvine National avg. Difference
      All Electricity $378.97$193.9995.4%
      Phone $180.31$192.256.2%
      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.
      Las Flores CDP (Tehama County), CA32411110.6%
      Laguna Woods, CA16,05613029.7%
      Home Gardens, CA12,02713534.5%
      Stanton, CA38,31714242.2%
      Coronita, CA3,96814342.9%
      Irvine, CA272,69419898.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Toledo, OH275,1168713.2%
      Durham, NC276,3411055.4%
      Chula Vista, CA268,77915656.1%
      Fort Wayne, IN268,3789010.3%
      Saskatoon, SK281,340n/a 
      Irvine, CA272,69419898.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.