An Overview of Cost of Living in Orangevale, CA
Are you thinking about relocating, but curious about the potential cost of living in Orangevale? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Orangevale stands at 136, making it 36% 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, Orangevale 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, Orangevale falls within this bracket.
Housing costs make up a big chunk of the cost of living in Orangevale, 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 91.7% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Is Orangevale Affordable?
Is Orangevale affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Orangevale, the median home price is 106.2% higher than the national average and monthly rent prices are 57.6% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Orangevale boasting a median household income of $78,071, 41.1% higher than the national average.
What Factors can Influence the Cost of Living in Orangevale?
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 Orangevale, the utilities index is 14% higher than the national average.
Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Orangevale, the transportation index stands at 20.8% higher than the national average.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Orangevale, healthcare costs are 13.1% higher than the national average.
Where is the Data From?
The cost of living in Orangevale, 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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