Santa Barbara cost of living index

Here we can see a simple outline of the cost of living in Santa Barbara, CA. As you can see, with the average cost of living in Santa Barbara, CA being 194, that puts it 40% higher than the average of California and 94% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Santa Barbara, CA, the price of goods and services are 6% lower than the average of California as well as 3% higher than the nation's average.

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Salary Calculator

Use the salary calculator to compare your current salary in Santa Barbara, CA to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Santa Barbara, CA, then you would need to earn more income in order to maintain the same standard of living. To use the Santa Barbara, CA salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

If you want to find a good determining factor for the cost of living and the general affordability of housing in Santa Barbara, CA, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Santa Barbara, CA, the median monthly income is $106,129 for those who own their own homes. Under the standard rule, that income level would allow for $2,476 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $50,526, per the median income in the area. That would allow for renters to spend up to $1,179 on monthly rental expenses.

California Sales Tax

California Income Tax

One thing to keep in mind when considering the cost of living in Santa Barbara, CA is the California sales tax and California income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The California sales tax rate is 7.25% and the maximum surtax that can be charged is 10.25%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% 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 Santa Barbara, CA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.