Cost of Living in Gardena, CA

An Overview of Cost of Living in Gardena, CA

Understanding the cost of living in Gardena 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 Gardena cost of living index is 153, which is 53% 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 Gardena 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, Gardena falls into this category, which may not be suitable for those seeking an economically favorable living environment.

Housing costs make up a big chunk of the cost of living in Gardena, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 140.2% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

Goods and services make up 33% of the total cost of living index score and are a large part of your everyday expenses. These items could include things like haircuts, salons, toothpaste, shampoo, clothes, movies, bowling, gym memberships or yoga. In Gardena, you can expect to pay 16.2% more than average for these items, making it a more expensive place to live.

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

Is Gardena Affordable?

Is Gardena 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 Gardena, the median home price is 181% higher than what most folks pay across the country, and monthly rent prices are 45.1% higher than the usual rates. Income levels in Gardena come in at $64,015, which is 15.7% higher than the national average.

What Factors can Influence the Cost of Living in Gardena?

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

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Gardena, the utilities index registers 12.4% higher than the national average.

Where is the Data From?

The cost of living data in Gardena 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.