| Index | Santa Monica | California | National |
| Cost of living | 273 | 141 | 100 |
| Groceries | 116 | 111 | 100 |
| Health care | 122 | 116 | 100 |
| Housing | 622 | 197 | 100 |
| Transportation | 122 | 118 | 100 |
| Utilities | 125 | 119 | 100 |
| Lifestyle & Entertainment | 130 | 120 | 100 |
| Household Items | 115 | 111 | 100 |
| Education & Childcare | 148 | 127 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Santa Monica? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Santa Monica stands at 273, making it 173% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
If you're in pursuit of an economical living environment, Santa Monica 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, Santa Monica falls within this bracket.
Housing costs significantly influence the Santa Monica 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 522%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.
Household expenses make up 8% of the total cost of living index score and cover the everyday essentials needed to keep your home running smoothly. These items may include cleaning supplies, laundry detergent, toiletries, clothing basics, and kitchen essentials. In Santa Monica, you can expect to pay 15.3% more than average for these everyday necessities, 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 Santa Monica is even less favorable, with grocery prices here being 16.2% higher than the national average.
The most insightful perspective on a city comes from its residents. We recently surveyed 18 locals to gauge their perception of the cost of living in Santa Monica. The feedback revealed that 11% of respondents found the cost of living to be reasonable, with prices on the decline, while 89% regarded it as notably expensive with prices that continue to rise.
Is Santa Monica 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 Santa Monica, the median home price is 703% higher than the national average and monthly rent prices are 99.9% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Santa Monica boasting a median household income of $144,352, 77.5% higher 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.
Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Santa Monica, healthcare costs are 21.5% higher than the national average.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Santa Monica, the baseline sales tax rate begins at 7.25%, and income tax rates start at 1%.
The cost of living data for Santa Monica shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $234,288 | $19,524 | $5,466 | $7,029 |
| Renters | $124,180 | $10,348 | $2,897 | $3,726 |
| State | General Sales Tax | With Max Surtax |
| California | 7.25% | 10.5% |
| State | Income Tax (Low) | Income Tax (High) |
| California | 1% | 13.3% |
| City | Population | Cost of Living Index | National Avg. |
| Westside, CA | 218 | 124 | 23.9% |
| Willowbrook, CA | 25,347 | 136 | 36.0% |
| Florence-Graham, CA | 66,603 | 138 | 38.2% |
| Compton, CA | 98,731 | 139 | 38.7% |
| West Rancho Dominguez, CA | 22,441 | 141 | 40.9% |
| Santa Monica, CA | 93,745 | 273 | 173.3% |
| City | Population | Cost of Living Index | National Avg. |
| San Leandro, CA | 93,731 | 173 | 73.2% |
| Suffolk, VA | 93,841 | 116 | 16.1% |
| Westminster, CA | 93,920 | 171 | 70.8% |
| Deltona, FL | 93,968 | 104 | 4.0% |
| Toms River, NJ | 93,337 | 127 | 27.4% |
| Santa Monica, CA | 93,745 | 273 | 173.3% |
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