F
51%
Overall NAT. AVG.
12%
Goods & Services NAT. AVG.
145%
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 Rancho Mirage California National
Cost of living151140100
Goods & Services112111100
Groceries113112100
Health care99109100
Housing245196100
Transportation124126100
Utilities94127100

An Overview of Cost of Living in Rancho Mirage, CA

Getting a feel for the cost of living in Rancho Mirage 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 Rancho Mirage is 151, which is 51% 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 you're in pursuit of an economical living environment, Rancho Mirage 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, Rancho Mirage falls within this bracket.

When it comes to the cost of living in Rancho Mirage, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 144.5% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Recurring goods and services expenses like haircuts, toothpaste, gym memberships and movie nights are a big part of your spending and make up 33% of the cost of living index. In Rancho Mirage, these items will cost you 12% more than what most folks pay, making it a bit more expensive to live here.

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 Rancho Mirage, it's the same story – grocery costs are 13.1% higher than what people pay across the country.

Is Rancho Mirage Affordable?

Is Rancho Mirage 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 Rancho Mirage, the median home price is 189% higher than the national average and monthly rent prices are 40.8% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Rancho Mirage boasting a median household income of $84,891, 53.4% higher than the national average.

What Factors can Influence the Cost of Living in Rancho Mirage?

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Rancho Mirage, the groceries index is 13.1% higher than the national average.

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 Rancho Mirage, the transportation index is 23.9% higher than the national average.

Where is the Data From?

The Rancho Mirage 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.

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Cost Of Living Quick Facts

  • The cost of living in Rancho Mirage is 8% higher than the California average
  • The cost of living in Rancho Mirage is 51% higher than the national average
  • Rancho Mirage housing is 145% 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 Rancho Mirage

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Compare Rancho Mirage, 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$105,795$8,816$2,468$3,174
      Renters$37,996$3,166$887$1,140
      A good way to judge both the affordability of the housing and the cost of living in Rancho Mirage is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Rancho Mirage has a median income of about $105,795 for people who own homes. Based on that number, a maximum of $2,468 should be spent on expenses related to housing. Renters have a slightly different median income, which is $37,996. Based on this average, renters should spend no more than $887 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 Rancho Mirage National avg. Difference
      Haircut $27.27$24.2612.4%
      Beauty Salon $41.78$45.568.3%
      Toothpaste $3.61$3.702.6%
      Shampoo $1.34$1.284.9%
      Movie $11.04$12.139.0%
      Bowling $21.11$18.0017.3%

      Groceries

      Item Rancho Mirage National avg. Difference
      Ground Beef $5.89$5.840.8%
      Fried Chicken $3.49$1.57121.9%
      Milk $4.92$4.675.4%
      Potatoes $4.92$4.930.3%
      Pizza $15.31$12.0926.6%
      Beer $10.26$10.411.4%

      Health Care

      Item Rancho Mirage National avg. Difference
      Optometrist $112.92$125.6810.2%
      Doctor $95.50$135.7829.7%
      Dentist $117.28$113.293.5%
      Ibuprofen $10.58$10.650.7%
      Lipitor $521.17$468.6011.2%

      Housing

      Item Rancho Mirage National avg. Difference
      Home Price $533,700.00$184,700.00189.0%
      Avg. Mortgage Payment $2,441.43$2,346.694.0%
      Apartment Rent $1,336.00$949.0040.8%

      Transportation

      Item Rancho Mirage National avg. Difference
      Gasoline $4.75$3.4637.3%
      Tire Balancing $61.38$59.922.4%

      Utilities

      Item Rancho Mirage National avg. Difference
      All Electricity $378.97$193.9995.4%
      Phone $180.31$192.256.2%
      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.
      Desert Edge, CA3,480928.0%
      Sky Valley, CA2,274991.5%
      Thousand Palms, CA8,15811010.3%
      Whitewater, CA1,16611110.7%
      Garnet, CA5,56711211.8%
      Rancho Mirage, CA18,53715150.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Altus, OK18,5338217.8%
      Thomasville, GA18,530946.1%
      Milledgeville, GA18,5268910.8%
      Lake Shore, MD18,52313433.5%
      Merrifield, VA18,52315554.9%
      Rancho Mirage, CA18,53715150.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.