F
Overall 69%
Goods & Services 15%
Housing 195%
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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.
IndexTorranceCaliforniaNational
Cost of living169140100
Goods & Services115109100
Groceries113112100
Health care111109100
Housing295196100
Transportation127132100
Utilities107127100

Key findings

  • The cost of living in Torrance is 21% higher than the California average
  • The cost of living in Torrance is 69% higher than the national average
  • Torrance housing is 195% higher than the national average
  • California general sales tax is 42% higher than the national average
  • California state income tax is 59% lower than the national average

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Compare Torrance, 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 IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$104,083$8,674$2,428$3,123
      Renters$58,041$4,837$1,354$1,741
      The affordability of the housing market in Torrance, 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 Torrance homeowners, the median income is $104,083. This indicates that a monthly maximum of $2,428 should be spent by homeowners on all housing related costs. Renters have a median income of $58,041. This indicates that renters would have a maximum of $1,354 for their rent related monthly costs.

      California Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      California7.25%10.5%

      California Income Tax

      StateIncome Tax (Low)Income Tax (High)
      California1%13.3%

      Goods & Services

      ItemTorranceNational avg.Difference
      Haircut $25.92$20.2727.8%
      Beauty Salon $85.33$40.39111.2%
      Toothpaste $2.23$2.365.6%
      Shampoo $1.33$1.0823.3%
      Movie $17.40$10.9958.4%
      Bowling $22.00$15.4942.0%

      Groceries

      ItemTorranceNational avg.Difference
      Ground Beef $4.41$4.302.5%
      Fried Chicken $1.79$1.4028.2%
      Milk $2.30$2.204.4%
      Potatoes $2.99$3.227.1%
      Pizza $11.99$10.7411.6%
      Beer $9.93$9.603.5%

      Health Care

      ItemTorranceNational avg.Difference
      Optometrist $123.18$109.7312.3%
      Doctor $126.33$118.346.8%
      Dentist $115.69$100.9414.6%
      Ibuprofen $11.49$9.9315.7%
      Lipitor $489.74$469.534.3%

      Housing

      ItemTorranceNational avg.Difference
      Home Price $652,600.00$184,700.00253.3%
      Avg. Mortgage Payment $2,848.42$1,229.62131.7%
      Apartment Rent $1,512.00$949.0059.3%

      Transportation

      ItemTorranceNational avg.Difference
      Gasoline $3.91$2.7144.2%
      Tire Balancing $51.87$51.860.0%

      Utilities

      ItemTorranceNational avg.Difference
      All Electricity$191.63$170.8412.2%
      Phone $187.64$187.180.2%
      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

      CityPopulationCost of Living IndexNational Avg.
      Westside, CA2691076.6%
      Willowbrook, CA22,03511919.2%
      Florence-Graham, CA63,39012120.5%
      Compton, CA97,74012120.9%
      East Rancho Dominguez, CA15,88712222.5%
      Torrance, CA147,30716968.8%

      Cities with similar population

      CityPopulationCost of Living IndexNational Avg.
      Joliet, IL147,515982.3%
      Bridgeport, CT147,02211010.4%
      Paterson, NJ146,89411413.9%
      Guelph, ON147,931n/a 
      Hollywood, FL148,1141087.6%
      Torrance, CA147,30716968.8%
      Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.