D+
12%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
12%
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 Shasta Lake California National
Cost of living112140100
Goods & Services109111100
Groceries108112100
Health care113109100
Housing112196100
Transportation121126100
Utilities114127100

An Overview of Cost of Living in Shasta Lake, CA

Are you thinking about relocating, but curious about the potential cost of living in Shasta Lake? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Shasta Lake stands at 112, making it 12% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Is Shasta Lake Affordable?

Is Shasta Lake an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Shasta Lake is 10.5% higher than the national average, while the average monthly rent prices are 15.2% higher than average. The affordability of any location can also be influenced by median income levels. Shasta Lake has a median household income of $48,257, which is 12.8% lower than the national average.

What Factors can Influence the Cost of Living in Shasta Lake?

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Shasta Lake, the housing index comes in at 11.9% higher than the national average.

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Shasta Lake, the baseline sales tax rate begins at 7.25%, and income tax rates start at 1%.

Where is the Data From?

The cost of living in Shasta Lake, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Shasta Lake is 20% lower than the California average
  • The cost of living in Shasta Lake is 12% higher than the national average
  • Shasta Lake housing is 12% 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

Most Affordable Places to Live in and Around Shasta Lake

See all the best places to live around Shasta Lake

Compare Shasta Lake, 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$57,000$4,750$1,330$1,710
      Renters$32,725$2,727$764$982
      The affordability of the housing market in Shasta Lake, CA as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Shasta Lake homeowners, the median income is $57,000. This indicates that a monthly maximum of $1,330 should be spent by homeowners on all housing related costs. Renters have a median income of $32,725. This indicates that renters would have a maximum of $764 for their rent related monthly 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 Shasta Lake National avg. Difference
      Haircut $40.00$24.2664.9%
      Beauty Salon $60.53$45.5632.8%
      Toothpaste $3.67$3.701.0%
      Shampoo $1.44$1.2812.5%
      Movie $13.76$12.1313.4%
      Bowling $22.22$18.0023.5%

      Groceries

      Item Shasta Lake National avg. Difference
      Ground Beef $5.56$5.844.7%
      Fried Chicken $2.06$1.5731.0%
      Milk $4.93$4.675.5%
      Potatoes $4.69$4.935.0%
      Pizza $13.98$12.0915.7%
      Beer $10.49$10.410.8%

      Health Care

      Item Shasta Lake National avg. Difference
      Optometrist $153.50$125.6822.1%
      Doctor $201.43$135.7848.3%
      Dentist $115.72$113.292.1%
      Ibuprofen $11.03$10.653.5%
      Lipitor $380.45$468.6018.8%

      Housing

      Item Shasta Lake National avg. Difference
      Home Price $204,100.00$184,700.0010.5%
      Avg. Mortgage Payment $3,182.68$2,346.6935.6%
      Apartment Rent $1,093.00$949.0015.2%

      Transportation

      Item Shasta Lake National avg. Difference
      Gasoline $4.51$3.4630.2%
      Tire Balancing $58.67$59.922.1%

      Utilities

      Item Shasta Lake National avg. Difference
      All Electricity $238.53$193.9923.0%
      Phone $190.81$192.250.7%
      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.
      French Gulch, CA4411022.3%
      Mountain Gate, CA7031066.5%
      Redding, CA92,02512019.9%
      Bella Vista, CA3,32012828.4%
      Keswick, CA19213029.5%
      Shasta Lake, CA10,23511211.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Golden Hills, CA10,23412322.5%
      East Stroudsburg, PA10,2321011.0%
      Elgin, TX10,231964.3%
      Belle Chasse, LA10,24111312.5%
      Canandaigua, NY10,241991.3%
      Shasta Lake, CA10,23511211.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.