An Overview of Cost of Living in Manhattan Beach, CA
Are you thinking about relocating, but curious about the potential cost of living in Manhattan Beach? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Manhattan Beach stands at 333, making it 233% 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.
If you're in pursuit of an economical living environment, Manhattan Beach may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Manhattan Beach falls within this bracket.
When it comes to the cost of living in Manhattan Beach, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 739.6% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Recurring goods and services expenses like haircuts, toothpaste, gym memberships and movie nights are a big part of your spending and make up 33% of the cost of living index. In Manhattan Beach, these items will cost you 16.2% more than what most folks pay, making it a bit more expensive to live here.
The surge in grocery costs is indeed alarming, especially when groceries make up a large portion of your monthly expenditures. Over the past two years, there has been an inflation of over 10% in grocery prices. Unfortunately, Manhattan Beach does not fare better, with grocery expenses coming in at 12.2% higher than the national average.
What Do Locals Say About the Cost of Living in Manhattan Beach?
The real experts on a city are its residents. That's why we reached out to 10 locals to get their views on the cost of living in Manhattan Beach. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 10% found it budget-friendly with decreasing prices, while 90% said it's simply not affordable as prices have continued to rise.
Is Manhattan Beach Affordable?
Is Manhattan Beach 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 Manhattan Beach, for instance, where the median home price falls 982.8% higher than the national average, and monthly rent rates are 172.1% higher than usual. Additionally, median income levels contribute to the equation, with Manhattan Beach flaunting a median household income of $153,926, 178.2% higher than the national norm.
What Factors can Influence the Cost of Living in Manhattan Beach?
Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.
Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Manhattan Beach comes in at 12.4% higher than the national average.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Manhattan Beach, the transportation index is 24.3% higher than the national average.
Where is the Data From?
The Manhattan Beach 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.
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