F
225%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
711%
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 Stanford California National
Cost of living325140100
Goods & Services108111100
Groceries115112100
Health care123109100
Housing811196100
Transportation130126100
Utilities132127100

An Overview of Cost of Living in Stanford, CA

The cost of living in Stanford affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Stanford is 325, which is 225% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

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

When it comes to the cost of living in Stanford, 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 710.7% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

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 Stanford is even less favorable, with grocery prices here being 14.5% higher than the national average.

Is Stanford Affordable?

Is Stanford 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 Stanford, for instance, where the median home price falls 982.8% higher than the national average, and monthly rent rates are 75.6% higher than usual. Additionally, median income levels contribute to the equation, with Stanford flaunting a median household income of $61,571, 11.3% higher than the national norm.

What Factors can Influence the Cost of Living in Stanford?

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 Stanford, healthcare costs are 22.6% higher than the national average.

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Stanford, the general sales tax rate starts at 7.25%, and income tax rates begin at 1%.

Where is the Data From?

The cost of living in Stanford, 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 Stanford is 133% higher than the California average
  • The cost of living in Stanford is 225% higher than the national average
  • Stanford housing is 711% 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 Stanford

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Compare Stanford, 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$250,001$20,833$5,833$7,501
      Renters$42,859$3,572$1,000$1,286
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Stanford, CA, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Stanford, homeowners have a median income of $250,001. Using that number, a maximum of $5,833 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $42,859, which means there is a maximum of $1,000 to be spent on the costs of renting a home or apartment.

      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 Stanford National avg. Difference
      Haircut $33.94$24.2639.9%
      Beauty Salon $48.51$45.566.5%
      Toothpaste $3.72$3.700.4%
      Shampoo $1.66$1.2829.9%
      Movie $13.31$12.139.7%
      Bowling $33.30$18.0085.0%

      Groceries

      Item Stanford National avg. Difference
      Ground Beef $5.79$5.840.8%
      Fried Chicken $2.13$1.5735.7%
      Milk $5.05$4.678.2%
      Potatoes $4.77$4.933.4%
      Pizza $14.92$12.0923.5%
      Beer $10.99$10.415.6%

      Health Care

      Item Stanford National avg. Difference
      Optometrist $158.95$125.6826.5%
      Doctor $194.05$135.7842.9%
      Dentist $147.78$113.2930.4%
      Ibuprofen $11.51$10.658.1%
      Lipitor $390.15$468.6016.7%

      Housing

      Item Stanford National avg. Difference
      Home Price $2,000,001.00$184,700.00982.8%
      Avg. Mortgage Payment $8,581.10$2,346.69265.7%
      Apartment Rent $1,666.00$949.0075.6%

      Transportation

      Item Stanford National avg. Difference
      Gasoline $4.81$3.4638.9%
      Tire Balancing $65.62$59.929.5%

      Utilities

      Item Stanford National avg. Difference
      All Electricity $294.74$193.9951.9%
      Phone $190.07$192.251.1%
      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.
      Loma Mar, CA28211716.8%
      Mountain View CDP, CA2,58513030.1%
      Union City, CA75,06719898.4%
      Newark, CA48,14819797.0%
      La Honda, CA1,229203103.5%
      Stanford, CA16,200325224.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Griffith, IN16,198981.9%
      Hernando, MS16,2061000.1%
      Mount Clemens, MI16,212918.9%
      Fairview Park, OH16,219955.5%
      Los Osos, CA16,17416362.9%
      Stanford, CA16,200325224.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.