| Index | Torrance | California | National |
| Cost of living | 195 | 141 | 100 |
| Groceries | 112 | 111 | 100 |
| Health care | 117 | 116 | 100 |
| Housing | 370 | 197 | 100 |
| Transportation | 120 | 118 | 100 |
| Utilities | 121 | 119 | 100 |
| Lifestyle & Entertainment | 126 | 120 | 100 |
| Household Items | 110 | 111 | 100 |
| Education & Childcare | 137 | 127 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Torrance? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Torrance stands at 195, making it 95% 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.
If you prioritize affordability when seeking a new place to live, Torrance may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Torrance falls into this category, which may not align with your preferences for a budget-friendly living environment.
When it comes to the cost of living in Torrance, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 270.2% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
The substantial and relentless rise in grocery prices definitely warrants some attention. Over the past two years, grocery expenses have escalated by more than 10%. Having said that, the situation in Torrance is even less favorable, with grocery prices here being 12.2% higher than the national average.
When it comes to knowing a city, its residents are the experts. We conducted a survey with 10 locals to understand their opinions on the cost of living in Torrance. The results indicated that 40% found it reasonably priced with decreasing prices of goods and services, while 60% viewed it as quite expensive, with increasing prices.
Wondering if Torrance is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Torrance, for example, the median home price is 348.7% higher than what folks pay nationally, and monthly rent is 87% higher than the usual rates. Plus, income levels matter too, with Torrance boasting a median household income of $141,954, which is 74.5% higher than the national average.
Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Torrance, the housing index is 270.2% higher than the national average.
Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, 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. Regions with limited subsidy provisions may witness an increase in their overall cost of living.
Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.
The cost of living estimates displayed for Torrance are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $180,017 | $15,001 | $4,200 | $5,401 |
| Renters | $105,028 | $8,752 | $2,450 | $3,151 |
| State | General Sales Tax | With Max Surtax |
| California | 7.25% | 10.5% |
| State | Income Tax (Low) | Income Tax (High) |
| California | 1% | 13.3% |
| City | Population | Cost of Living Index | National Avg. |
| Westside, CA | 218 | 124 | 23.9% |
| Vernon, CA | 254 | 117 | 16.8% |
| Rolling Hills CDP, CA | 855 | 133 | 33.4% |
| Willowbrook, CA | 25,347 | 136 | 36.0% |
| East Rancho Dominguez, CA | 15,765 | 136 | 36.3% |
| Torrance, CA | 150,066 | 195 | 94.6% |
| City | Population | Cost of Living Index | National Avg. |
| Bridgeport, CT | 149,398 | 109 | 8.6% |
| Lévis, QC | 149,331 | n/a | |
| Paterson, NJ | 149,118 | 122 | 21.5% |
| Savannah, GA | 148,994 | 99 | 1.2% |
| Rockford, IL | 151,169 | 87 | 13.5% |
| Torrance, CA | 150,066 | 195 | 94.6% |
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