Cost Of Living in Silver Lakes, CA

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F

22%

Overall NAT. AVG.

16%

Goods & Services NAT. AVG.

37%

Housing NAT. AVG.

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	Silver Lakes	California	National
Cost of living	122	140	100
Goods & Services	116	111	100
Groceries	112	112	100
Health care	108	109	100
Housing	137	196	100
Transportation	124	126	100
Utilities	112	127	100

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Cost Of Living Quick Facts

The cost of living in Silver Lakes is 12% lower than the California average
The cost of living in Silver Lakes is 22% higher than the national average
Silver Lakes housing is 37% higher than the national average
California general sales tax is 42% higher than the national average
California state income tax is 61% 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	$78,042	$6,504	$1,821	$2,341
Renters	$71,136	$5,928	$1,660	$2,134

The affordability of the housing market in Silver Lakes, 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 Silver Lakes homeowners, the median income is $78,042. This indicates that a monthly maximum of $1,821 should be spent by homeowners on all housing related costs. Renters have a median income of $71,136. This indicates that renters would have a maximum of $1,660 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%	13.3%

Goods & Services

Item	Silver Lakes	National avg.	Difference
Haircut	$24.67	$24.26	1.7%
Beauty Salon	$49.33	$45.56	8.3%
Toothpaste	$3.76	$3.70	1.5%
Shampoo	$1.41	$1.28	9.8%
Movie	$13.46	$12.13	11.0%
Bowling	$19.07	$18.00	6.0%

Groceries

Item	Silver Lakes	National avg.	Difference
Ground Beef	$6.26	$5.84	7.2%
Fried Chicken	$2.08	$1.57	32.2%
Milk	$4.76	$4.67	1.9%
Potatoes	$4.94	$4.93	0.2%
Pizza	$16.13	$12.09	33.5%
Beer	$9.60	$10.41	7.8%

Health Care

Item	Silver Lakes	National avg.	Difference
Optometrist	$129.09	$125.68	2.7%
Doctor	$119.86	$135.78	11.7%
Dentist	$108.07	$113.29	4.6%
Ibuprofen	$10.36	$10.65	2.7%
Lipitor	$505.41	$468.60	7.9%

Housing

Item	Silver Lakes	National avg.	Difference
Home Price	$235,800.00	$184,700.00	27.7%
Avg. Mortgage Payment	$2,799.02	$2,346.69	19.3%
Apartment Rent	$1,518.00	$949.00	60.0%

Transportation

Item	Silver Lakes	National avg.	Difference
Gasoline	$4.47	$3.46	29.3%
Tire Balancing	$58.33	$59.92	2.6%

Utilities

Item	Silver Lakes	National avg.	Difference
All Electricity	$326.49	$193.99	68.3%
Phone	$182.78	$192.25	4.9%

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.
Lenwood, CA	4,431	103	2.7%
Adelanto, CA	34,238	116	16.5%
Victorville, CA	122,958	117	16.5%
Silver Lakes, CA	6,050	122	22.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Manchester, WA	6,050	133	32.7%
St. Helena, CA	6,049	247	146.6%
Amqui, QC	6,049	n/a
Willows, CA	6,053	110	9.9%
Metropolis, IL	6,053	86	13.9%
Silver Lakes, CA	6,050	122	22.1%