F
41%
Overall NAT. AVG.
16%
Goods & Services NAT. AVG.
101%
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 Walnut Park California National
Cost of living141140100
Goods & Services116111100
Groceries112112100
Health care108109100
Housing201196100
Transportation124126100
Utilities112127100

An Overview of Cost of Living in Walnut Park, CA

Understanding the cost of living in Walnut Park 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 Walnut Park cost of living index is 141, which is 41% 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.

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

Housing costs are a major factor in the Walnut Park cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 101.5% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

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 Walnut Park, these items will cost you 16.2% 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 Walnut Park is even less favorable, with grocery prices here being 12.2% higher than the national average.

Is Walnut Park Affordable?

Is Walnut Park affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Walnut Park, the median home price is 133.8% higher than the national average and monthly rent prices are 26% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Walnut Park boasting a median household income of $61,408, 11% higher than the national average.

What Factors can Influence the Cost of Living in Walnut Park?

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Walnut Park, the housing index is 101.5% higher than the national average.

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 Walnut Park, the general sales tax rate starts at 7.25%, and income tax rates begin at 1%.

Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.

Where is the Data From?

The Walnut Park cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Walnut Park is 1% higher than the California average
  • The cost of living in Walnut Park is 41% higher than the national average
  • Walnut Park housing is 101% 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 Walnut Park

See all the best places to live around Walnut Park

Compare Walnut Park, 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$80,897$6,741$1,887$2,427
      Renters$40,000$3,333$933$1,200
      A good indicator of the general affordability of housing in Walnut Park, 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 Walnut Park, the median monthly income is $80,897 for those who own their own homes. Under the standard rule, that income level would allow for $1,887 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $40,000, per the median income in the area. That would allow for renters to spend up to $933 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 Walnut Park 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 Walnut Park 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 Walnut Park 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 Walnut Park National avg. Difference
      Home Price $431,900.00$184,700.00133.8%
      Avg. Mortgage Payment $2,799.02$2,346.6919.3%
      Apartment Rent $1,196.00$949.0026.0%

      Transportation

      Item Walnut Park National avg. Difference
      Gasoline $4.47$3.4629.3%
      Tire Balancing $58.33$59.922.6%

      Utilities

      Item Walnut Park 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.
      Westside, CA21311615.6%
      Vernon, CA24811717.0%
      Willowbrook, CA24,40113333.3%
      Rolling Hills CDP, CA83213433.9%
      Compton, CA95,80413636.2%
      Walnut Park, CA15,93914141.4%

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      Comox, BC15,938n/a 
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      Dyer, IN15,9331109.9%
      Mount Holly, NC15,947991.2%
      Easthampton Town, MA15,93011514.7%
      Walnut Park, CA15,93914141.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.