F
91%
Overall NAT. AVG.
9%
Goods & Services NAT. AVG.
275%
Housing NAT. AVG.
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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 Granite Bay California National
Cost of living191140100
Goods & Services109111100
Groceries108112100
Health care113109100
Housing375196100
Transportation121126100
Utilities114127100

An Overview of Cost of Living in Granite Bay, CA

Getting a feel for the cost of living in Granite Bay 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 Granite Bay is 191, which is 91% 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 Granite Bay 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, Granite Bay falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs significantly influence the Granite Bay cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 275.3%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Granite Bay Affordable?

Is Granite Bay affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Granite Bay, for instance, where the median home price falls 344.6% higher than the national average, and monthly rent rates are 113.7% higher than usual. Additionally, median income levels contribute to the equation, with Granite Bay flaunting a median household income of $170,504, 208.2% higher than the national norm.

What Factors can Influence the Cost of Living in Granite Bay?

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 Granite Bay, the standard sales tax rate starts at 7.25%, and the income tax rates commence at 1%.

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Granite Bay comes in at 14% higher than the national average.

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Granite Bay, the housing index is 275.3% higher than the national average.

Where is the Data From?

The Granite Bay cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates 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 Granite Bay is 37% higher than the California average
  • The cost of living in Granite Bay is 91% higher than the national average
  • Granite Bay housing is 275% higher than the national average
  • California general sales tax is 42% higher than the national average
  • California state income tax is 61% lower than the national average

Most Affordable Places to Live in and Around Granite Bay

See all the best places to live around Granite Bay

Compare Granite Bay, 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 Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$174,692$14,558$4,076$5,241
      Renters$68,375$5,698$1,595$2,051
      The affordability of the housing market in Granite Bay, 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 Granite Bay homeowners, the median income is $174,692. This indicates that a monthly maximum of $4,076 should be spent by homeowners on all housing related costs. Renters have a median income of $68,375. This indicates that renters would have a maximum of $1,595 for their rent related monthly costs.

      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% 13.3%

      Goods & Services

      Item Granite Bay National avg. Difference
      Haircut $40.00$24.2664.9%
      Beauty Salon $60.53$45.5632.8%
      Toothpaste $3.67$3.701.0%
      Shampoo $1.44$1.2812.5%
      Movie $13.76$12.1313.4%
      Bowling $22.22$18.0023.5%

      Groceries

      Item Granite Bay National avg. Difference
      Ground Beef $5.56$5.844.7%
      Fried Chicken $2.06$1.5731.0%
      Milk $4.93$4.675.5%
      Potatoes $4.69$4.935.0%
      Pizza $13.98$12.0915.7%
      Beer $10.49$10.410.8%

      Health Care

      Item Granite Bay National avg. Difference
      Optometrist $153.50$125.6822.1%
      Doctor $201.43$135.7848.3%
      Dentist $115.72$113.292.1%
      Ibuprofen $11.03$10.653.5%
      Lipitor $380.45$468.6018.8%

      Housing

      Item Granite Bay National avg. Difference
      Home Price $821,200.00$184,700.00344.6%
      Avg. Mortgage Payment $3,182.68$2,346.6935.6%
      Apartment Rent $2,028.00$949.00113.7%

      Transportation

      Item Granite Bay National avg. Difference
      Gasoline $4.51$3.4630.2%
      Tire Balancing $58.67$59.922.1%

      Utilities

      Item Granite Bay National avg. Difference
      All Electricity $238.53$193.9923.0%
      Phone $190.81$192.250.7%
      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.
      McClellan Park, CA84311514.7%
      North Highlands, CA48,66011717.0%
      Foothill Farms, CA35,71112121.0%
      Sheridan, CA1,12012121.1%
      Rio Linda, CA16,11512625.8%
      Granite Bay, CA22,81819190.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Keene, NH22,82311212.4%
      Wilmot, ON22,827n/a 
      Eastmont, WA22,82915050.3%
      Radcliff, KY22,796928.0%
      Hastings, MN22,7961033.0%
      Granite Bay, CA22,81819190.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.