Rancho Palos Verdes, California Cost Of Living

F

118%

Overall NAT. AVG.

17%

Goods & Services NAT. AVG.

354%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2023; 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	Rancho Palos Verdes	California	National
Cost of living	218	141	100
Goods & Services	117	111	100
Groceries	111	116	100
Health care	112	111	100
Housing	454	196	100
Transportation	128	129	100
Utilities	111	129	100

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Cost Of Living Quick Facts

The cost of living in Rancho Palos Verdes is 55% higher than the California average
The cost of living in Rancho Palos Verdes is 118% higher than the national average
Rancho Palos Verdes housing is 354% 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

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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	$161,169	$13,431	$3,760	$4,836
Renters	$97,933	$8,161	$2,285	$2,938

A good way to judge both the affordability of the housing and the cost of living in Rancho Palos Verdes is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Rancho Palos Verdes has a median income of about $161,169 for people who own homes. Based on that number, a maximum of $3,760 should be spent on expenses related to housing. Renters have a slightly different median income, which is $97,933. Based on this average, renters should spend no more than $2,285 on all rental costs if they want to maintain a non-impoverished standard of living.

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	Rancho Palos Verdes	National avg.	Difference
Haircut	$28.39	$22.08	28.6%
Beauty Salon	$82.67	$42.88	92.8%
Toothpaste	$3.29	$2.57	28.3%
Shampoo	$1.22	$1.15	5.8%
Movie	$17.18	$11.51	49.3%
Bowling	$22.94	$16.62	38.1%

Groceries

Item	Rancho Palos Verdes	National avg.	Difference
Ground Beef	$5.27	$4.98	5.9%
Fried Chicken	$1.77	$1.58	11.9%
Milk	$2.76	$2.42	14.1%
Potatoes	$3.16	$3.54	10.5%
Pizza	$12.60	$11.49	9.7%
Beer	$9.96	$10.04	0.8%

Health Care

Item	Rancho Palos Verdes	National avg.	Difference
Optometrist	$132.27	$117.76	12.3%
Doctor	$130.00	$125.34	3.7%
Dentist	$128.20	$107.52	19.2%
Ibuprofen	$12.18	$10.26	18.8%
Lipitor	$492.75	$459.24	7.3%

Housing

Item	Rancho Palos Verdes	National avg.	Difference
Home Price	$1,209,200.00	$184,700.00	554.7%
Avg. Mortgage Payment	$4,299.57	$1,697.41	153.3%
Apartment Rent	$2,839.00	$949.00	199.2%

Transportation

Item	Rancho Palos Verdes	National avg.	Difference
Gasoline	$5.54	$3.85	44.2%
Tire Balancing	$56.00	$57.01	1.8%

Utilities

Item	Rancho Palos Verdes	National avg.	Difference
All Electricity	$208.33	$177.27	17.5%
Phone	$192.21	$189.62	1.4%

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.
Willowbrook, CA	24,401	120	20.2%
Florence-Graham, CA	64,787	122	21.5%
Compton, CA	95,804	122	21.9%
East Rancho Dominguez, CA	15,252	123	23.5%
West Rancho Dominguez, CA	21,977	125	24.6%
Rancho Palos Verdes, CA	41,635	218	117.6%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Mableton, GA	41,647	96	3.9%
La Quinta, CA	41,650	134	33.6%
Westfield, IN	41,652	104	4.2%
Woonsocket, RI	41,616	104	3.7%
Oakley, CA	41,656	133	32.9%
Rancho Palos Verdes, CA	41,635	218	117.6%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2023; this is the most current data available.