F
52%
Overall NAT. AVG.
12%
Goods & Services NAT. AVG.
148%
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 Woodcrest California National
Cost of living152140100
Goods & Services112111100
Groceries113112100
Health care99109100
Housing248196100
Transportation124126100
Utilities94127100

An Overview of Cost of Living in Woodcrest, CA

Getting a feel for the cost of living in Woodcrest 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 Woodcrest is 152, which is 52% 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 value affordability in your search for a new place to live, Woodcrest 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, Woodcrest falls into this category, which may not align with your desire for an affordable place to call home.

Housing costs significantly influence the Woodcrest cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 147.6%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

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, Woodcrest goods and services are 12% more expensive than the national average, leaving you with less money at the end of the month.

The relentless increase in grocery prices is a noteworthy trend. In the last two years, grocery costs have experienced an upward trajectory of over 10%. Unfortunately, Woodcrest is no exception, where grocery prices are 13.1% above the national average.

Is Woodcrest Affordable?

Is Woodcrest 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 Woodcrest, the median home price is 167.2% higher than the national average and monthly rent prices are 102% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Woodcrest boasting a median household income of $111,571, 101.7% higher than the national average.

What Factors can Influence the Cost of Living in Woodcrest?

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Woodcrest comes in at 5.9% lower than the national average.

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including 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 farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Where is the Data From?

The Woodcrest 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. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates 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 Woodcrest is 9% higher than the California average
  • The cost of living in Woodcrest is 52% higher than the national average
  • Woodcrest housing is 148% 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 Woodcrest

See all the best places to live around Woodcrest

Compare Woodcrest, CA Cost of Living

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      Salary Calculator

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      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$120,272$10,023$2,806$3,609
      Renters$65,909$5,492$1,538$1,977
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Woodcrest, CA, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Woodcrest homeowners, is $120,272. This would allow for a maximum of $2,806 per month to be spent on housing costs. For renters, the median monthly income is $65,909 which would result in a maximum of $1,538 to be spent on rental costs.

      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 Woodcrest National avg. Difference
      Haircut $27.27$24.2612.4%
      Beauty Salon $41.78$45.568.3%
      Toothpaste $3.61$3.702.6%
      Shampoo $1.34$1.284.9%
      Movie $11.04$12.139.0%
      Bowling $21.11$18.0017.3%

      Groceries

      Item Woodcrest National avg. Difference
      Ground Beef $5.89$5.840.8%
      Fried Chicken $3.49$1.57121.9%
      Milk $4.92$4.675.4%
      Potatoes $4.92$4.930.3%
      Pizza $15.31$12.0926.6%
      Beer $10.26$10.411.4%

      Health Care

      Item Woodcrest National avg. Difference
      Optometrist $112.92$125.6810.2%
      Doctor $95.50$135.7829.7%
      Dentist $117.28$113.293.5%
      Ibuprofen $10.58$10.650.7%
      Lipitor $521.17$468.6011.2%

      Housing

      Item Woodcrest National avg. Difference
      Home Price $493,500.00$184,700.00167.2%
      Avg. Mortgage Payment $2,441.43$2,346.694.0%
      Apartment Rent $1,917.00$949.00102.0%

      Transportation

      Item Woodcrest National avg. Difference
      Gasoline $4.75$3.4637.3%
      Tire Balancing $61.38$59.922.4%

      Utilities

      Item Woodcrest National avg. Difference
      All Electricity $378.97$193.9995.4%
      Phone $180.31$192.256.2%
      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.
      Homeland, CA7,6131065.8%
      Good Hope, CA8,43111413.7%
      Warm Springs, CA1,44511414.4%
      Meadowbrook, CA4,20811515.2%
      Mead Valley, CA20,81712121.4%
      Woodcrest, CA18,71915251.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Berea, OH18,713928.2%
      North Valley Stream, NY18,71215150.6%
      Country Walk, FL18,71013433.9%
      Ansonia, CT18,70911212.0%
      Ottawa, IL18,742937.1%
      Woodcrest, CA18,71915251.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.