Cost of Living in Hacienda Heights, CA

An Overview of Cost of Living in Hacienda Heights, CA

Are you thinking about relocating, but curious about the potential cost of living in Hacienda Heights? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Hacienda Heights stands at 166, making it 66% 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're in pursuit of an economical living environment, Hacienda Heights may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Hacienda Heights falls within this bracket.

Housing costs are a major factor in the Hacienda Heights cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 195.1% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Goods and services make up 33% of the total cost of living index score and are a large part of your everyday expenses. These items could include things like haircuts, salons, toothpaste, shampoo, clothes, movies, bowling, gym memberships or yoga. In Hacienda Heights, you can expect to pay 12% more than average for these items, making it a more expensive place to live.

The cost of groceries continues to rise at an alarming rate. Over the last two years, grocery prices have increased by more than 10%! Unfortunately, in Hacienda Heights, the news isn't any better as grocery prices are 13.1% higher than the national average.

Is Hacienda Heights Affordable?

Is Hacienda Heights affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Hacienda Heights, the median home price is 237% higher than the national average and monthly rent prices are 97.4% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Hacienda Heights boasting a median household income of $88,691, 60.3% higher than the national average.

What Factors can Influence the Cost of Living in Hacienda Heights?

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Hacienda Heights, the groceries index is 13.1% higher than the national average.

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, 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. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Hacienda Heights, the transportation index is 23.9% higher than the national average.

Where is the Data From?

The Hacienda Heights 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.