F
71%
Overall NAT. AVG.
16%
Goods & Services NAT. AVG.
200%
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 Simi Valley California National
Cost of living171140100
Goods & Services116111100
Groceries112112100
Health care108109100
Housing300196100
Transportation124126100
Utilities112127100

An Overview of Cost of Living in Simi Valley, CA

Understanding the cost of living in Simi Valley 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 Simi Valley cost of living index is 171, which is 71% 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.

The cost of living in Simi Valley 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, Simi Valley falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs are a very significant part of the Simi Valley 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 199.8% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Everyday goods and services make up 33% of the cost of living index and include things like clothing, personal hygiene products and entertainment which are a large portion of your monthly expenditures. Unfortunately, Simi Valley goods and services are 16.2% more expensive than the national average, leaving you with less money at the end of the month.

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 Simi Valley, it's the same story – grocery costs are 12.2% higher than what people pay across the country.

What Do Locals Say About the Cost of Living in Simi Valley?

The most insightful perspective on a city comes from its residents. We recently surveyed 13 locals to gauge their perception of the cost of living in Simi Valley. The feedback revealed that 15% of respondents found the cost of living to be reasonable, with prices on the decline, while 85% regarded it as notably expensive with prices that continue to rise.

Is Simi Valley Affordable?

Is Simi Valley 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 Simi Valley, the median home price is 231.7% higher than what most folks pay across the country, and monthly rent prices are 125.2% higher than the usual rates. Income levels in Simi Valley come in at $99,245, which is 79.4% higher than the national average.

What Factors can Influence the Cost of Living in Simi Valley?

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Simi Valley, healthcare costs are 7.9% higher than the national average.

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 Simi Valley, the groceries index is 12.2% higher than the national average.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Simi Valley, the housing index comes in at 199.8% higher than the national average.

Where is the Data From?

The cost of living data in Simi Valley displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Simi Valley is 22% higher than the California average
  • The cost of living in Simi Valley is 71% higher than the national average
  • Simi Valley housing is 200% 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 Simi Valley

See all the best places to live around Simi Valley

Compare Simi Valley, 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$117,684$9,807$2,746$3,531
      Renters$67,877$5,656$1,584$2,037
      To approximate the cost of living and the housing affordability in Simi Valley, CA, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Simi Valley have a median income of $117,684. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,746 per month to avoid calamity and poverty. The renters in the city have an income of about $67,877, which would make their monthly maximum allowable rental costs $1,584.

      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 Simi Valley National avg. Difference
      Haircut $24.67$24.261.7%
      Beauty Salon $49.33$45.568.3%
      Toothpaste $3.76$3.701.5%
      Shampoo $1.41$1.289.8%
      Movie $13.46$12.1311.0%
      Bowling $19.07$18.006.0%

      Groceries

      Item Simi Valley National avg. Difference
      Ground Beef $6.26$5.847.2%
      Fried Chicken $2.08$1.5732.2%
      Milk $4.76$4.671.9%
      Potatoes $4.94$4.930.2%
      Pizza $16.13$12.0933.5%
      Beer $9.60$10.417.8%

      Health Care

      Item Simi Valley National avg. Difference
      Optometrist $129.09$125.682.7%
      Doctor $119.86$135.7811.7%
      Dentist $108.07$113.294.6%
      Ibuprofen $10.36$10.652.7%
      Lipitor $505.41$468.607.9%

      Housing

      Item Simi Valley National avg. Difference
      Home Price $612,700.00$184,700.00231.7%
      Avg. Mortgage Payment $2,799.02$2,346.6919.3%
      Apartment Rent $2,137.00$949.00125.2%

      Transportation

      Item Simi Valley National avg. Difference
      Gasoline $4.47$3.4629.3%
      Tire Balancing $58.33$59.922.6%

      Utilities

      Item Simi Valley National avg. Difference
      All Electricity $326.49$193.9968.3%
      Phone $182.78$192.254.9%
      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.
      Piru, CA2,12613333.4%
      Val Verde, CA3,26113939.1%
      Fillmore, CA15,63114544.7%
      Castaic, CA18,47916463.8%
      Santa Clarita, CA212,51916464.1%
      Simi Valley, CA125,76817170.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Saanich, BC125,800n/a 
      Pearland, TX125,81711212.4%
      Topeka, KS125,8198812.3%
      Athens, GA124,962973.3%
      Lafayette, LA126,674982.4%
      Simi Valley, CA125,76817170.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.