F
49%
Overall NAT. AVG.
16%
Goods & Services NAT. AVG.
126%
Housing NAT. AVG.
Search Homes for Sale
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 Lennox California National
Cost of living149140100
Goods & Services116111100
Groceries112112100
Health care108109100
Housing226196100
Transportation124126100
Utilities112127100

An Overview of Cost of Living in Lennox, CA

Knowing the cost of living in Lennox allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Lennox stands at 149, marking it 49% higher than the national average.

The cost of living in Lennox 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, Lennox falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs significantly influence the Lennox cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 126.4%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Recurring essentials like haircuts, toothpaste, and entertainment, from movies to gym sessions, can really add up in your budget and make up 33% of the cost of living index. In Lennox, you you will have to spend 16.2% more than average when compared to the typical prices for these items, making it a more expensive place to live.

The relentless increase in grocery prices is a noteworthy trend. In the last two years, grocery costs have experienced an upward trajectory of over 10%. Unfortunately, Lennox is no exception, where grocery prices are 12.2% above the national average.

Is Lennox Affordable?

Is Lennox 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 Lennox is 170.4% higher than the national average, while the average monthly rent prices are 23.7% higher than average. The affordability of any location can also be influenced by median income levels. Lennox has a median household income of $46,163, which is 16.6% lower than the national average.

What Factors can Influence the Cost of Living in Lennox?

Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Lennox, the utilities index stands at 12.4% higher than the national average.

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Lennox, the housing index stands at 126.4% 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 Lennox cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

New Real Estate Listings in Lennox Area
Search Homes for Sale in Lennox, CA

Cost Of Living Quick Facts

  • The cost of living in Lennox is 7% higher than the California average
  • The cost of living in Lennox is 49% higher than the national average
  • Lennox housing is 126% higher than the national average
  • California general sales tax is 42% higher than the national average
  • California state income tax is 56% lower than the national average

Most Affordable Places to Live in and Around Lennox

See all the best places to live around Lennox

Compare Lennox, CA Cost of Living

      vs
      How would you rate the cost of living in Lennox?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Lennox?
      Write a review to give others more information about this area.
      See all Lennox poll results

      Salary Calculator

      This is how much you would need to earn in
      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$68,750$5,729$1,604$2,063
      Renters$38,113$3,176$889$1,144
      A good indicator of the general affordability of housing in Lennox, CA, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Lennox, the median monthly income is $68,750 for those who own their own homes. Under the standard rule, that income level would allow for $1,604 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $38,113, per the median income in the area. That would allow for renters to spend up to $889 on monthly rental expenses.

      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% 12.3%

      Goods & Services

      Item Lennox National avg. Difference
      Haircut $24.67$24.261.7%
      Beauty Salon $49.33$45.568.3%
      Toothpaste $3.76$3.701.5%
      Shampoo $1.41$1.289.8%
      Movie $13.46$12.1311.0%
      Bowling $19.07$18.006.0%

      Groceries

      Item Lennox National avg. Difference
      Ground Beef $6.26$5.847.2%
      Fried Chicken $2.08$1.5732.2%
      Milk $4.76$4.671.9%
      Potatoes $4.94$4.930.2%
      Pizza $16.13$12.0933.5%
      Beer $9.60$10.417.8%

      Health Care

      Item Lennox National avg. Difference
      Optometrist $129.09$125.682.7%
      Doctor $119.86$135.7811.7%
      Dentist $108.07$113.294.6%
      Ibuprofen $10.36$10.652.7%
      Lipitor $505.41$468.607.9%

      Housing

      Item Lennox National avg. Difference
      Home Price $499,400.00$184,700.00170.4%
      Avg. Mortgage Payment $2,799.02$2,346.6919.3%
      Apartment Rent $1,174.00$949.0023.7%

      Transportation

      Item Lennox National avg. Difference
      Gasoline $4.47$3.4629.3%
      Tire Balancing $58.33$59.922.6%

      Utilities

      Item Lennox National avg. Difference
      All Electricity $326.49$193.9968.3%
      Phone $182.78$192.254.9%
      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.
      Westside, CA21311615.6%
      Vernon, CA24811717.0%
      Willowbrook, CA24,40113333.3%
      Rolling Hills CDP, CA83213433.9%
      Compton, CA95,80413636.2%
      Lennox, CA22,47614948.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Highland, IN22,4791022.0%
      Mandan, ND22,4821021.7%
      Christiansburg, VA22,482991.1%
      White Rock, BC22,468n/a 
      Dolton, IL22,487972.7%
      Lennox, CA22,47614948.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.