Placentia cost of living index

An overview of the general cost of living index for Placentia, CA is displayed above for your reference. Residents in Placentia, CA enjoy a cost of living index of 156. This index is 13% higher than the California average, and 56% 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 Placentia, CA, the average cost of goods and services is 1% lower than it is in California, and it is 8% higher than the national average.

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Salary Calculator

The salary calculator is meant to help you compare your salary in Placentia, CA to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Placentia, CA, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Placentia, CA salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

One can approximate the cost of living and the housing affordability in Placentia, CA by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Placentia, CA have a median income of $97,531. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,276 per month to avoid calamity and poverty. The renters in the city have an income of about $54,690, which would make their monthly maximum allowable rental costs $1,276.

California Sales Tax

California Income Tax

The California sales tax and California income tax rates should definitely be considered when determining the overall cost of living in Placentia, CA. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The California sales tax is 7.25% and the maximum surtax is 10.25%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The California income tax rates range from 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 Placentia, CA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.