F
233%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
738%
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 Menlo Park California National
Cost of living333140100
Goods & Services108111100
Groceries115112100
Health care123109100
Housing838196100
Transportation130126100
Utilities132127100

An Overview of Cost of Living in Menlo Park, CA

The cost of living in Menlo Park affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Menlo Park is 333, which is 233% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

If you prioritize affordability when seeking a new place to live, Menlo Park may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Menlo Park falls into this category, which may not align with your preferences for a budget-friendly living environment.

Housing costs are a very significant part of the Menlo Park 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 738% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

The substantial and relentless rise in grocery prices definitely warrants some attention. Over the past two years, grocery expenses have escalated by more than 10%. Having said that, the situation in Menlo Park is even less favorable, with grocery prices here being 14.5% higher than the national average.

What Do Locals Say About the Cost of Living in Menlo Park?

Nobody knows their city better than the people who actually live there. So, we asked 6 local residents how they would rate the cost of living in Menlo Park and this is how they responded. 0% of people said that the cost of living was affordable, with prices decreasing, while 100% of people said that the cost of living was very expensive and prices continue to rise.

Is Menlo Park Affordable?

Is Menlo Park an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Menlo Park is 982.8% higher than the national average, while the average monthly rent prices are 166.7% higher than average. The affordability of any location can also be influenced by median income levels. Menlo Park has a median household income of $167,567, which is 202.9% higher than the national average.

What Factors can Influence the Cost of Living in Menlo Park?

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Menlo Park, the transportation index is 30.4% higher than the national average.

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Menlo Park, healthcare costs are 22.6% higher than the national average.

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Menlo Park, the housing index stands at 738% higher than the national average.

Where is the Data From?

The cost of living in Menlo Park, 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.

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Cost Of Living Quick Facts

  • The cost of living in Menlo Park is 139% higher than the California average
  • The cost of living in Menlo Park is 233% higher than the national average
  • Menlo Park housing is 738% 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 Menlo Park

See all the best places to live around Menlo Park

Compare Menlo Park, 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$212,917$17,743$4,968$6,388
      Renters$110,828$9,236$2,586$3,325
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Menlo Park, CA, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Menlo Park, homeowners have a median income of $212,917. Using that number, a maximum of $4,968 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $110,828, which means there is a maximum of $2,586 to be spent on the costs of renting a home or apartment.

      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 Menlo Park National avg. Difference
      Haircut $33.94$24.2639.9%
      Beauty Salon $48.51$45.566.5%
      Toothpaste $3.72$3.700.4%
      Shampoo $1.66$1.2829.9%
      Movie $13.31$12.139.7%
      Bowling $33.30$18.0085.0%

      Groceries

      Item Menlo Park National avg. Difference
      Ground Beef $5.79$5.840.8%
      Fried Chicken $2.13$1.5735.7%
      Milk $5.05$4.678.2%
      Potatoes $4.77$4.933.4%
      Pizza $14.92$12.0923.5%
      Beer $10.99$10.415.6%

      Health Care

      Item Menlo Park National avg. Difference
      Optometrist $158.95$125.6826.5%
      Doctor $194.05$135.7842.9%
      Dentist $147.78$113.2930.4%
      Ibuprofen $11.51$10.658.1%
      Lipitor $390.15$468.6016.7%

      Housing

      Item Menlo Park National avg. Difference
      Home Price $2,000,001.00$184,700.00982.8%
      Avg. Mortgage Payment $8,581.10$2,346.69265.7%
      Apartment Rent $2,531.00$949.00166.7%

      Transportation

      Item Menlo Park National avg. Difference
      Gasoline $4.81$3.4638.9%
      Tire Balancing $65.62$59.929.5%

      Utilities

      Item Menlo Park National avg. Difference
      All Electricity $294.74$193.9951.9%
      Phone $190.07$192.251.1%
      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.
      Loma Mar, CA28211716.8%
      Mountain View CDP, CA2,58513030.1%
      Hayward, CA158,81717373.0%
      Union City, CA75,06719898.4%
      Newark, CA48,14819797.0%
      Menlo Park, CA35,211333233.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Gadsden, AL35,2248217.7%
      Westmont, CA35,18814544.8%
      Bell, CA35,30114242.1%
      Buenaventura Lakes, FL35,1171043.8%
      Tooele, UT35,3131066.2%
      Menlo Park, CA35,211333233.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.