Cost of Living in Lawndale, CA

An Overview of Cost of Living in Lawndale, CA

Getting a feel for the cost of living in Lawndale 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 Lawndale is 158, which is 58% 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.

The cost of living in Lawndale is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Lawndale falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs are a very significant part of the Lawndale cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 158.6% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Everyday goods and services make up 33% of the cost of living index and include things like clothing, personal hygiene products and entertainment which are a large portion of your monthly expenditures. Unfortunately, Lawndale goods and services are 16.2% more expensive than the national average, leaving you with less money at the end of the month.

Groceries are getting more expensive by the day and the cost of groceries makes up 13% of the overall cost of living index. In the past two years, prices have shot up by over 10%! Unfortunately, in Lawndale, it's the same story – grocery costs are 12.2% higher than what people pay across the country.

Is Lawndale Affordable?

Is Lawndale 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 Lawndale, for instance, where the median home price falls 198.8% higher than the national average, and monthly rent rates are 64.8% higher than usual. Additionally, median income levels contribute to the equation, with Lawndale flaunting a median household income of $65,923, 19.2% higher than the national norm.

What Factors can Influence the Cost of Living in Lawndale?

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Lawndale, the prevailing sales tax rate starts at 7.25%, and income tax rates kick off at 1%.

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.

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Lawndale, the transportation index is 24.3% higher than the national average.

Where is the Data From?

The cost of living in Lawndale, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.