Riverside, California Cost Of Living

F

25%

Overall NAT. AVG.

17%

Goods & Services NAT. AVG.

46%

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	Riverside	California	National
Cost of living	125	141	100
Goods & Services	117	111	100
Groceries	111	116	100
Health care	112	111	100
Housing	146	196	100
Transportation	128	129	100
Utilities	111	129	100

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Cost Of Living Quick Facts

The cost of living in Riverside is 11% lower than the California average
The cost of living in Riverside is 25% higher than the national average
Riverside housing is 46% 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	$97,165	$8,097	$2,267	$2,915
Renters	$50,908	$4,242	$1,188	$1,527

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Riverside, CA, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Riverside homeowners, is $97,165. This would allow for a maximum of $2,267 per month to be spent on housing costs. For renters, the median monthly income is $50,908 which would result in a maximum of $1,188 to be spent on rental costs.

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	Riverside	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	Riverside	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	Riverside	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	Riverside	National avg.	Difference
Home Price	$389,500.00	$184,700.00	110.9%
Avg. Mortgage Payment	$4,299.57	$1,697.41	153.3%
Apartment Rent	$1,466.00	$949.00	54.5%

Transportation

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

Utilities

Item	Riverside	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.
Meadowbrook, CA	4,208	108	7.7%
Good Hope, CA	8,431	110	10.3%
San Bernardino, CA	216,784	110	10.4%
Colton, CA	54,215	113	12.7%
Bloomington, CA	21,907	116	15.6%
Riverside, CA	327,569	125	25.2%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Corpus Christi, TX	326,332	88	12.2%
Santa Ana, CA	332,610	138	37.8%
Lexington-Fayette, KY	322,200	98	2.1%
Vaughan, ON	321,974	n/a
Stockton, CA	311,103	113	12.8%
Riverside, CA	327,569	125	25.2%

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