| Index | Riverside | California | National |
| Cost of living | 140 | 141 | 100 |
| Groceries | 110 | 111 | 100 |
| Health care | 118 | 116 | 100 |
| Housing | 193 | 197 | 100 |
| Transportation | 120 | 118 | 100 |
| Utilities | 122 | 119 | 100 |
| Lifestyle & Entertainment | 117 | 120 | 100 |
| Household Items | 111 | 111 | 100 |
| Education & Childcare | 134 | 127 | 100 |
Understanding the cost of living in Riverside can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Riverside cost of living index is 140, which is 40% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
If you value affordability in your search for a new place to live, Riverside may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Riverside falls into this category, which may not align with your desire for an affordable place to call home.
When it comes to the cost of living in Riverside, 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 92.8% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Everyday household expenses like cleaning products, laundry detergent, toiletries, and kitchen basics can quickly add up over time and make up 8% of the cost of living index. In Riverside, you can expect to spend 11.4% more than average on these recurring essentials, which increases your overall monthly cost of living.
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 Riverside is even less favorable, with grocery prices here being 10.3% higher than the national average.
Nobody knows their city better than the people who actually live there. So, we asked 26 local residents how they would rate the cost of living in Riverside and this is how they responded. 27% of people said that the cost of living was affordable, with prices decreasing, while 73% of people said that the cost of living was very expensive and prices continue to rise.
Is Riverside 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 Riverside, for instance, where the median home price falls 110.6% higher than the national average, and monthly rent rates are 51.2% higher than usual. Additionally, median income levels contribute to the equation, with Riverside flaunting a median household income of $110,029, 35.3% higher than the national norm.
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 Riverside, the transportation index stands at 20% higher than the national average.
Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday household expenses, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Riverside, the standard sales tax rate starts at 7.25%, and the income tax rates commence at 1%.
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Riverside, the housing index is 92.8% higher than the national average.
The cost of living estimates displayed for Riverside are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $145,422 | $12,119 | $3,393 | $4,363 |
| Renters | $75,261 | $6,272 | $1,756 | $2,258 |
| State | General Sales Tax | With Max Surtax |
| California | 7.25% | 10.5% |
| State | Income Tax (Low) | Income Tax (High) |
| California | 1% | 13.3% |
| City | Population | Cost of Living Index | National Avg. |
| Good Hope, CA | 8,754 | 118 | 18.4% |
| Meadowbrook, CA | 4,320 | 119 | 19.2% |
| San Bernardino, CA | 221,910 | 124 | 23.5% |
| Mead Valley, CA | 21,263 | 127 | 26.8% |
| Colton, CA | 55,956 | 127 | 27.0% |
| Riverside, CA | 334,324 | 140 | 40.4% |
| City | Population | Cost of Living Index | National Avg. |
| Corpus Christi, TX | 338,491 | 98 | 2.3% |
| Lexington-Fayette, KY | 329,532 | 100 | 0.5% |
| Santa Ana, CA | 345,160 | 161 | 60.9% |
| Vaughan, ON | 321,974 | n/a | |
| Henderson, NV | 320,734 | 126 | 26.5% |
| Riverside, CA | 334,324 | 140 | 40.4% |
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