F
26%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
60%
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 Riverbank California National
Cost of living126140100
Goods & Services104111100
Groceries104112100
Health care96109100
Housing160196100
Transportation120126100
Utilities140127100

An Overview of Cost of Living in Riverbank, CA

Understanding the cost of living in Riverbank can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Riverbank cost of living index is 126, which is 26% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

If you prioritize affordability when seeking a new place to live, Riverbank 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, Riverbank falls into this category, which may not align with your preferences for a budget-friendly living environment.

Housing costs make up a big chunk of the cost of living in Riverbank, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 60.1% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Is Riverbank Affordable?

Is Riverbank 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 Riverbank, for instance, where the median home price falls 72.6% higher than the national average, and monthly rent rates are 31.1% higher than usual. Additionally, median income levels contribute to the equation, with Riverbank flaunting a median household income of $70,163, 26.8% higher than the national norm.

What Factors can Influence the Cost of Living in Riverbank?

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.

Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Riverbank, the groceries index is 3.5% higher than the national average.

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Riverbank, the transportation index is 20% higher than the national average.

Where is the Data From?

The Riverbank 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 Riverbank is 10% lower than the California average
  • The cost of living in Riverbank is 26% higher than the national average
  • Riverbank housing is 60% 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 Riverbank

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Compare Riverbank, 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$78,268$6,522$1,826$2,348
      Renters$48,468$4,039$1,131$1,454
      A good way to judge both the affordability of the housing and the cost of living in Riverbank 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. Riverbank has a median income of about $78,268 for people who own homes. Based on that number, a maximum of $1,826 should be spent on expenses related to housing. Renters have a slightly different median income, which is $48,468. Based on this average, renters should spend no more than $1,131 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 Riverbank National avg. Difference
      Haircut $26.83$24.2610.6%
      Beauty Salon $76.57$45.5668.0%
      Toothpaste $3.86$3.704.3%
      Shampoo $1.56$1.2821.9%
      Movie $14.64$12.1320.6%
      Bowling $23.78$18.0032.1%

      Groceries

      Item Riverbank National avg. Difference
      Ground Beef $6.21$5.846.3%
      Fried Chicken $2.10$1.5733.7%
      Milk $4.99$4.676.9%
      Potatoes $4.98$4.930.9%
      Pizza $15.69$12.0929.8%
      Beer $10.96$10.415.3%

      Health Care

      Item Riverbank National avg. Difference
      Optometrist $157.88$125.6825.6%
      Doctor $166.71$135.7822.8%
      Dentist $148.27$113.2930.9%
      Ibuprofen $11.69$10.659.8%
      Lipitor $498.45$468.606.4%

      Housing

      Item Riverbank National avg. Difference
      Home Price $318,800.00$184,700.0072.6%
      Avg. Mortgage Payment $4,545.90$2,346.6993.7%
      Apartment Rent $1,244.00$949.0031.1%

      Transportation

      Item Riverbank National avg. Difference
      Gasoline $4.63$3.4633.9%
      Tire Balancing $70.51$59.9217.7%

      Utilities

      Item Riverbank National avg. Difference
      All Electricity $299.78$193.9954.5%
      Phone $191.56$192.250.4%
      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.
      Monterey Park Tract, CA29311110.7%
      Farmington, CA16911414.2%
      Cowan, CA47211110.7%
      Parklawn, CA1,8441043.6%
      Westley, CA6891044.4%
      Riverbank, CA24,62312625.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Emporia, KS24,6318514.7%
      Medford, NY24,61313534.7%
      Mill Creek East, WA24,64316868.3%
      Chestermere, AB24,643n/a 
      Sandusky, OH24,6518415.9%
      Riverbank, CA24,62312625.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.