Wildomar cost of living index

A general overview of the cost of living index for Wildomar, CA is displayed above. In Wildomar, CA, the overall cost of living index is 122, which is 12% lower than the California average and 22% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Wildomar, CA, the city's goods and services are 1% lower than the California average and 8% higher than the U.S. average.

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Salary Calculator

The salary calculator allows you to compare how much your current salary in Wildomar, CA would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Wildomar, CA, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Wildomar, CA salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

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 Wildomar, 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 Wildomar, CA, the median monthly income is $70,505 for those who own their own homes. Under the standard rule, that income level would allow for $1,645 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $44,716, per the median income in the area. That would allow for renters to spend up to $1,043 on monthly rental expenses.

California Sales Tax

California Income Tax

For those who live in Wildomar, CA and want to know what the true cost of living is, they ought to look at both the California income tax rate and the California sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In California, the sales tax is 7.25%, while the most you'll pay in surtax is 10.25%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in California, the income tax rate ranges between 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 Wildomar, CA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.