F
69%
Overall NAT. AVG.
12%
Goods & Services NAT. AVG.
206%
Housing NAT. AVG.
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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 Placentia California National
Cost of living169140100
Goods & Services112111100
Groceries113112100
Health care99109100
Housing306196100
Transportation124126100
Utilities94127100

An Overview of Cost of Living in Placentia, CA

Knowing the cost of living in Placentia 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 Placentia stands at 169, marking it 69% higher than the national average.

If you're in pursuit of an economical living environment, Placentia 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, Placentia falls within this bracket.

Housing costs are a major factor in the Placentia cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 206.3% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Everyday goods and services make up 33% of the cost of living index and include things like clothing, personal hygiene products and entertainment which are a large portion of your monthly expenditures. Unfortunately, Placentia goods and services are 12% more expensive than the national average, leaving you with less money at the end of the month.

The substantial and relentless rise in grocery prices definitely warrants some attention. Over the past two years, grocery expenses have escalated by more than 10%. Having said that, the situation in Placentia is even less favorable, with grocery prices here being 13.1% higher than the national average.

Is Placentia Affordable?

Is Placentia an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Placentia, the median home price is 253.8% higher than what most folks pay across the country, and monthly rent prices are 95.6% higher than the usual rates. Income levels in Placentia come in at $100,707, which is 82% higher than the national average.

What Factors can Influence the Cost of Living in Placentia?

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Placentia, the prevailing sales tax rate starts at 7.25%, and income tax rates kick off at 1%.

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Placentia, the transportation index is 23.9% higher than the national average.

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Placentia, healthcare costs are 1.2% lower than the national average.

Where is the Data From?

The cost of living data in Placentia displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Placentia is 21% higher than the California average
  • The cost of living in Placentia is 69% higher than the national average
  • Placentia housing is 206% higher than the national average
  • California general sales tax is 42% higher than the national average
  • California state income tax is 61% lower than the national average

Most Affordable Places to Live in and Around Placentia

See all the best places to live around Placentia

Compare Placentia, CA Cost of Living

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      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$121,118$10,093$2,826$3,634
      Renters$69,100$5,758$1,612$2,073
      To approximate the cost of living and the housing affordability in Placentia, CA, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Placentia have a median income of $121,118. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,826 per month to avoid calamity and poverty. The renters in the city have an income of about $69,100, which would make their monthly maximum allowable rental costs $1,612.

      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% 13.3%

      Goods & Services

      Item Placentia National avg. Difference
      Haircut $27.27$24.2612.4%
      Beauty Salon $41.78$45.568.3%
      Toothpaste $3.61$3.702.6%
      Shampoo $1.34$1.284.9%
      Movie $11.04$12.139.0%
      Bowling $21.11$18.0017.3%

      Groceries

      Item Placentia National avg. Difference
      Ground Beef $5.89$5.840.8%
      Fried Chicken $3.49$1.57121.9%
      Milk $4.92$4.675.4%
      Potatoes $4.92$4.930.3%
      Pizza $15.31$12.0926.6%
      Beer $10.26$10.411.4%

      Health Care

      Item Placentia National avg. Difference
      Optometrist $112.92$125.6810.2%
      Doctor $95.50$135.7829.7%
      Dentist $117.28$113.293.5%
      Ibuprofen $10.58$10.650.7%
      Lipitor $521.17$468.6011.2%

      Housing

      Item Placentia National avg. Difference
      Home Price $653,400.00$184,700.00253.8%
      Avg. Mortgage Payment $2,441.43$2,346.694.0%
      Apartment Rent $1,856.00$949.0095.6%

      Transportation

      Item Placentia National avg. Difference
      Gasoline $4.75$3.4637.3%
      Tire Balancing $61.38$59.922.4%

      Utilities

      Item Placentia National avg. Difference
      All Electricity $378.97$193.9995.4%
      Phone $180.31$192.256.2%
      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.
      Industry, CA26413333.1%
      Montclair, CA40,04113635.5%
      South San Jose Hills, CA19,10413737.5%
      Ontario, CA178,19413938.6%
      Pomona, CA151,12413938.6%
      Placentia, CA52,04916969.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Bentonville, AR52,0701077.2%
      Whitchurch-Stouffville, ON52,025n/a 
      Oak Park, IL52,10213030.1%
      Queen Creek, AZ52,16213434.3%
      Mascouche, QC52,212n/a 
      Placentia, CA52,04916969.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.