Lathrop cost of living index

An overview of the general cost of living index for Lathrop, CA is displayed above for your reference. Residents in Lathrop, CA enjoy a cost of living index of 121. This index is 13% lower than the California average, and 21% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Lathrop, CA, the average cost of goods and services is 6% lower than it is in California, and it is 4% higher than the national average.

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Salary Calculator

The salary calculator allows you to compare how much your current salary in Lathrop, CA would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Lathrop, CA, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Lathrop, CA salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Lathrop, 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 Lathrop, CA homeowners, is $68,763. This would allow for a maximum of $1,604 per month to be spent on housing costs. For renters, the median monthly income is $56,585 which would result in a maximum of $1,320 to be spent on rental costs.

California Sales Tax

California Income Tax

For those who live in Lathrop, CA and want to know what the true cost of living is, they ought to look at both the California income tax rate and the California sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In California, the sales tax is 7.25%, while the most you'll pay in surtax is 10.25%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in California, the income tax rate ranges between 1% to 13.3%.

Goods & Services

Groceries

Health Care

Housing

Transportation

Utilities

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.

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Source: The Lathrop, CA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.