F
48%
Overall NAT. AVG.
16%
Goods & Services NAT. AVG.
123%
Housing NAT. AVG.
Search Homes for Sale
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 Vincent California National
Cost of living148140100
Goods & Services116111100
Groceries112112100
Health care108109100
Housing223196100
Transportation124126100
Utilities112127100

An Overview of Cost of Living in Vincent, CA

Getting a feel for the cost of living in Vincent is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Vincent is 148, which is 48% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Vincent is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Vincent falls into this category, which may not align with your goal of finding a budget-friendly living environment.

When it comes to the cost of living in Vincent, 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 123.3% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Recurring goods and services expenses like haircuts, toothpaste, gym memberships and movie nights are a big part of your spending and make up 33% of the cost of living index. In Vincent, these items will cost you 16.2% more than what most folks pay, making it a bit more expensive to live here.

The relentless increase in grocery prices is a noteworthy trend. In the last two years, grocery costs have experienced an upward trajectory of over 10%. Unfortunately, Vincent is no exception, where grocery prices are 12.2% above the national average.

Is Vincent Affordable?

Is Vincent an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Vincent, the median home price is 147.5% higher than what most folks pay across the country, and monthly rent prices are 66.6% higher than the usual rates. Income levels in Vincent come in at $86,326, which is 56% higher than the national average.

What Factors can Influence the Cost of Living in Vincent?

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Vincent, the healthcare costs are 7.9% higher than the national average.

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as 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 farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Vincent, the standard sales tax rate starts at 7.25%, and the income tax rates commence at 1%.

Where is the Data From?

The Vincent cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Vincent is 6% higher than the California average
  • The cost of living in Vincent is 48% higher than the national average
  • Vincent housing is 123% higher than the national average
  • California general sales tax is 42% higher than the national average
  • California state income tax is 56% lower than the national average

Most Affordable Places to Live in and Around Vincent

See all the best places to live around Vincent

Compare Vincent, CA Cost of Living

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      Salary Calculator

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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$95,783$7,982$2,235$2,874
      Renters$61,083$5,090$1,425$1,833
      A good way to judge both the affordability of the housing and the cost of living in Vincent is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Vincent has a median income of about $95,783 for people who own homes. Based on that number, a maximum of $2,235 should be spent on expenses related to housing. Renters have a slightly different median income, which is $61,083. Based on this average, renters should spend no more than $1,425 on all rental costs if they want to maintain a non-impoverished standard of living.

      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% 12.3%

      Goods & Services

      Item Vincent National avg. Difference
      Haircut $24.67$24.261.7%
      Beauty Salon $49.33$45.568.3%
      Toothpaste $3.76$3.701.5%
      Shampoo $1.41$1.289.8%
      Movie $13.46$12.1311.0%
      Bowling $19.07$18.006.0%

      Groceries

      Item Vincent National avg. Difference
      Ground Beef $6.26$5.847.2%
      Fried Chicken $2.08$1.5732.2%
      Milk $4.76$4.671.9%
      Potatoes $4.94$4.930.2%
      Pizza $16.13$12.0933.5%
      Beer $9.60$10.417.8%

      Health Care

      Item Vincent National avg. Difference
      Optometrist $129.09$125.682.7%
      Doctor $119.86$135.7811.7%
      Dentist $108.07$113.294.6%
      Ibuprofen $10.36$10.652.7%
      Lipitor $505.41$468.607.9%

      Housing

      Item Vincent National avg. Difference
      Home Price $457,200.00$184,700.00147.5%
      Avg. Mortgage Payment $2,799.02$2,346.6919.3%
      Apartment Rent $1,581.00$949.0066.6%

      Transportation

      Item Vincent National avg. Difference
      Gasoline $4.47$3.4629.3%
      Tire Balancing $58.33$59.922.6%

      Utilities

      Item Vincent National avg. Difference
      All Electricity $326.49$193.9968.3%
      Phone $182.78$192.254.9%
      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.
      Industry, CA26413333.1%
      Paramount, CA53,94913938.9%
      Bell Gardens, CA41,77013939.0%
      Montclair, CA40,04113635.5%
      Commerce, CA12,73814040.3%
      Vincent, CA16,40514847.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Ammon, ID16,4031000.4%
      Buffalo, MN16,4131065.9%
      East Riverdale, MD16,39512322.7%
      Storrs, CT16,39211615.6%
      Gainesville, VA16,39115251.8%
      Vincent, CA16,40514847.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.