Cost of Living in Santa Clarita, CA

An Overview of Cost of Living in Santa Clarita, CA

Knowing the cost of living in Santa Clarita allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Santa Clarita stands at 164, marking it 64% higher than the national average.

If you value affordability in your search for a new place to live, Santa Clarita may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Santa Clarita falls into this category, which may not align with your desire for an affordable place to call home.

When it comes to the cost of living in Santa Clarita, 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 177.3% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Recurring essentials like haircuts, toothpaste, and entertainment, from movies to gym sessions, can really add up in your budget and make up 33% of the cost of living index. In Santa Clarita, you you will have to spend 16.2% more than average when compared to the typical prices for these items, making it a more expensive place to live.

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 Santa Clarita is even less favorable, with grocery prices here being 12.2% higher than the national average.

What Do Locals Say About the Cost of Living in Santa Clarita?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 23 locals to understand their opinions on the cost of living in Santa Clarita. The results indicated that 22% found it reasonably priced with decreasing prices of goods and services, while 78% viewed it as quite expensive, with increasing prices.

Is Santa Clarita Affordable?

Is Santa Clarita an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Santa Clarita, the median home price is 205.6% higher than what most folks pay across the country, and monthly rent prices are 111.1% higher than the usual rates. Income levels in Santa Clarita come in at $100,932, which is 82.4% higher than the national average.

What Factors can Influence the Cost of Living in Santa Clarita?

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 Santa Clarita, the housing index stands at 177.3% higher than the national average.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Santa Clarita, the groceries index registers 12.2% higher than the national average.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Santa Clarita, the utilities index is 12.4% higher than the national average.

Where is the Data From?

The Santa Clarita cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.