F
36%
Overall NAT. AVG.
12%
Goods & Services NAT. AVG.
94%
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 Riverside California National
Cost of living136140100
Goods & Services112111100
Groceries113112100
Health care99109100
Housing194196100
Transportation124126100
Utilities94127100

An Overview of Cost of Living in Riverside, CA

Getting a feel for the cost of living in Riverside 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 Riverside is 136, which is 36% 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 Riverside 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, Riverside falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs significantly influence the Riverside cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 94%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

The things you purchase regularly, like clothes, haircuts, movie tickets and gym memberships, can make a big dent in your budget and make up 33% of the cost of living index. Unfortunately in Riverside, these items will cost you 12% more than what's considered the norm, making it a more expensive place to call home.

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 Riverside is even less favorable, with grocery prices here being 13.1% higher than the national average.

What Do Locals Say About the Cost of Living in Riverside?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 26 locals to understand their opinions on the cost of living in Riverside. The results indicated that 27% found it reasonably priced with decreasing prices of goods and services, while 73% viewed it as quite expensive, with increasing prices.

Is Riverside Affordable?

Is Riverside 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 Riverside is 110.9% higher than the national average, while the average monthly rent prices are 54.5% higher than average. The affordability of any location can also be influenced by median income levels. Riverside has a median household income of $72,738, which is 31.5% higher than the national average.

What Factors can Influence the Cost of Living in Riverside?

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Riverside, healthcare costs are 1.2% lower than the national average.

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Riverside, the utilities index registers at 5.9% lower than the national average.

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 Riverside, the groceries index is 13.1% higher than the national average.

Where is the Data From?

The cost of living in Riverside, 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 Riverside is 3% lower than the California average
  • The cost of living in Riverside is 36% higher than the national average
  • Riverside housing is 94% 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 Riverside

See all the best places to live around Riverside

Compare Riverside, 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$97,165$8,097$2,267$2,915
      Renters$50,908$4,242$1,188$1,527
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Riverside, CA, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Riverside homeowners, is $97,165. This would allow for a maximum of $2,267 per month to be spent on housing costs. For renters, the median monthly income is $50,908 which would result in a maximum of $1,188 to be spent on rental costs.

      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 Riverside 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 Riverside 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 Riverside 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 Riverside National avg. Difference
      Home Price $389,500.00$184,700.00110.9%
      Avg. Mortgage Payment $2,441.43$2,346.694.0%
      Apartment Rent $1,466.00$949.0054.5%

      Transportation

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

      Utilities

      Item Riverside 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.
      Good Hope, CA8,43111413.7%
      Meadowbrook, CA4,20811515.2%
      San Bernardino, CA216,78411918.9%
      Mead Valley, CA20,81712121.4%
      Colton, CA54,21512222.2%
      Riverside, CA327,56913635.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Corpus Christi, TX326,332945.8%
      Santa Ana, CA332,61015352.6%
      Lexington-Fayette, KY322,2001011.2%
      Vaughan, ON321,974n/a 
      Stockton, CA311,10312525.1%
      Riverside, CA327,56913635.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.