Stevenson Ranch cost of living index

An overview of the general cost of living index for Stevenson Ranch, CA is displayed above for your reference. Residents in Stevenson Ranch, CA enjoy a cost of living index of 166. This index is 20% higher than the California average, and 66% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Stevenson Ranch, CA, the average cost of goods and services is 1% lower than it is in California, and it is 9% higher than the national average.

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Salary Calculator

The salary calculator is used in order to provide a comparison of your current salary in Stevenson Ranch, CA to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Stevenson Ranch, CA, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Stevenson Ranch, CA salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

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 Stevenson Ranch, 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 Stevenson Ranch, CA, the median monthly income is $152,875 for those who own their own homes. Under the standard rule, that income level would allow for $3,567 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $71,000, per the median income in the area. That would allow for renters to spend up to $1,657 on monthly rental expenses.

California Sales Tax

California Income Tax

One thing to keep in mind when considering the cost of living in Stevenson Ranch, 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 Stevenson Ranch, CA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.