Spring Valley Lake cost of living index

Displayed above is a general overview of the Spring Valley Lake, CA cost of living index. The overall cost of living index in Spring Valley Lake, CA is 120, which is 13% lower than the California average and 20% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Spring Valley Lake, CA are 1% lower than the California average and 8% higher than the national average.

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Salary Calculator

Use the salary calculator to compare your current income in Spring Valley Lake, CA to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Spring Valley Lake, CA, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Spring Valley Lake, CA salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Spring Valley Lake, 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 Spring Valley Lake, CA homeowners, is $90,729. This would allow for a maximum of $2,117 per month to be spent on housing costs. For renters, the median monthly income is $64,554 which would result in a maximum of $1,506 to be spent on rental costs.

California Sales Tax

California Income Tax

When assessing the complete cost of living in Spring Valley Lake, CA, the California income tax and the California sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The California maximum surtax is 10.25%, and the California sales tax is 7.25%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 1% to 13.3% in California.

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 Spring Valley Lake, CA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.