F
87%
Overall NAT. AVG.
16%
Goods & Services NAT. AVG.
255%
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 Thousand Oaks California National
Cost of living187140100
Goods & Services116111100
Groceries112112100
Health care108109100
Housing355196100
Transportation124126100
Utilities112127100

An Overview of Cost of Living in Thousand Oaks, CA

Getting a feel for the cost of living in Thousand Oaks 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 Thousand Oaks is 187, which is 87% 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.

If you're in pursuit of an economical living environment, Thousand Oaks may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Thousand Oaks falls within this bracket.

Housing costs are a very significant part of the Thousand Oaks 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 254.7% more than the average city. This includes things like home and rent prices, 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 Thousand Oaks, 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 Thousand Oaks 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 Thousand Oaks?

Nobody knows their city better than the people who actually live there. So, we asked 15 local residents how they would rate the cost of living in Thousand Oaks and this is how they responded. 40% of people said that the cost of living was affordable, with prices decreasing, while 60% of people said that the cost of living was very expensive and prices continue to rise.

Is Thousand Oaks Affordable?

Is Thousand Oaks 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 Thousand Oaks is 307.1% higher than the national average, while the average monthly rent prices are 132.6% higher than average. The affordability of any location can also be influenced by median income levels. Thousand Oaks has a median household income of $108,377, which is 95.9% higher than the national average.

What Factors can Influence the Cost of Living in Thousand Oaks?

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Thousand Oaks, the groceries index is 12.2% higher than the national average.

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 Thousand Oaks, healthcare costs are 7.9% higher than the national average.

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Thousand Oaks, the transportation index stands at 24.3% higher than the national average.

Where is the Data From?

The Thousand Oaks 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.

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Cost Of Living Quick Facts

  • The cost of living in Thousand Oaks is 34% higher than the California average
  • The cost of living in Thousand Oaks is 87% higher than the national average
  • Thousand Oaks housing is 255% 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 Thousand Oaks

See all the best places to live around Thousand Oaks

Compare Thousand Oaks, 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$131,847$10,987$3,076$3,956
      Renters$67,887$5,657$1,584$2,037
      A good indicator of the general affordability of housing in Thousand Oaks, CA, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Thousand Oaks, the median monthly income is $131,847 for those who own their own homes. Under the standard rule, that income level would allow for $3,076 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $67,887, per the median income in the area. That would allow for renters to spend up to $1,584 on monthly rental expenses.

      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 Thousand Oaks 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 Thousand Oaks 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 Thousand Oaks 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 Thousand Oaks National avg. Difference
      Home Price $751,900.00$184,700.00307.1%
      Avg. Mortgage Payment $2,799.02$2,346.6919.3%
      Apartment Rent $2,207.00$949.00132.6%

      Transportation

      Item Thousand Oaks National avg. Difference
      Gasoline $4.47$3.4629.3%
      Tire Balancing $58.33$59.922.6%

      Utilities

      Item Thousand Oaks 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.
      Santa Paula, CA30,29714242.0%
      Santa Susana, CA92416868.0%
      Simi Valley, CA125,76817170.8%
      Camarillo, CA68,58317271.8%
      Casa Conejo, CA3,18417474.2%
      Thousand Oaks, CA127,64818787.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Elizabeth, NJ128,48411919.0%
      Santa Clara, CA126,723233133.1%
      Lafayette, LA126,674982.4%
      Round Rock, TX128,8121088.1%
      Concord, CA129,22716767.3%
      Thousand Oaks, CA127,64818787.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.