Cost of living In California
California Cost Of Living Information
Cost Of Apartment Rent By City
California Real Estate
Recent Articles
Cost Of Home Mortgage in California?
Well your mortgage will be quite high because the average single family home goes for 835,000. There are still more great buys out there. Seized or Foreclosed real estate is everywhere you just have to know where to look. You can find lists of foreclosed properties by contacting any financial institution Continue Reading
Cost of apartment rent in California?
The cost of living in California varies depending on where you live. For example the average rent in Huntington Beach, $1,439 a month while average rent in Santa Monica is $3,246 a month. The Cost of living in Anaheim is the cheapest at $1,265, that is if you are looking to move close to Los Angeles. Continue Reading
California Cost of Living Statistics
Utilities
- $29.38 for garbage
$23.50 for water and $25.10 for sewer.
Energy - 22.1 cents kilo-watts per
hour.
Gasoline - $4.20 per gallon.
Housing Wage - $22.86 per hour
This is the hourly wage a person must earn working 40 hours a
week, 52 weeks a year to be able to afford mortgage and
utilities in the private housing market
California Sales Tax Breakdown
Living in California has it's costs when it comes to sales
taxes. Californians pay anywhere from 7.25% to 8.75 %
depending on what county they live in. California doesn't tax
on food or prescription drugs but does place a 40 cent per gallon
tax on gasoline and an 87 cent tax on cigarettes. Here's
where our hard in dollars go....
State General
Fund - 6.25 % - Fiscal Recovery
Fund - 0.25%
Local Revenue Fund- 0.50% Local Public Safety
Fund .50%
Local Public Safety Fund 1.00% Uniform
Local Tax 0.25%
County Transportation funds 0.75% -
County Operational fund .25%.
Califonia Cost Of Living On The Rise -
Population on the decline
The population decline in California is staggering. The Rising
Cost Of Living in California will cause all the educated
workforce to leave California by the year 2020. Department
of Finance estimates show natural increase (the difference
between births and deaths), now account for more than two thirds
of the state's growth.
It is no suprise that many California residents have
moved north in search of a lower cost of living through better wages and
more affordable housing. The big question is why in such a robust ecomony
are people having trouble making the mortgage? Especially when the average
wage is $14.00 per hour. The answer is homes cost way to much and the cost
of even renting an apartment is out of control. If cost of living in
California stays as is a unique problem will exist. Plenty of jobs with
out any people to work them which will create a very interesting
paradox.
The Rising Cost Of Living For Seniors
How poor do you have to be to be able to afford pubic
assistance in California. According to the CHRP public assistance
programs cover less than half of seniors basic cost of living in
California. With an annual income of less than $13,000 to
qualify it is easy to see why this is the case. In comparison the
average cost of living for a retiree in California is roughly
$30,537 this is $17,000 more than the California assistance
threshold.
So why isn't California taking care of its seniors? It is
easy to see that California leadership is not keeping the
policy up to date with rising living costs. Understanding how
expensive living is for seniors is important to ensure that
their basic cost of living is covered. The elder index is a
fact based and comprehensive look at expenses effecting senior
citizens and is designed to replace the current Federal Poverty
line. It gives legislators accurate calculations as far
as the Cost Of LIving in California and how it effects the
elderly. It is designed to secure funding, and allocate
resources and aid seniors in their retirement plans. This is
apart of a California wide project to insure that adequate
funds are available for our seniors to cover their cost of living
expensives.
Developed over 40 years ago the official federal measure of
poverty was grossly outdated using surveys from the 1950s. The
measure was factoring in soley the basic cost of food needed to
satisfy minumal nutritional requirements. It does not account for
housing and transportation costs. And we all know gas
is effecting the cost of living for everyone including
people in California. But for seniors the rising cost of
prescription drugs has become yet a bigger burden. The
Elder Index, in contrast, provides a calculation of a basic cost
of living for retired adults age 65 and older for every
California county and includes things such as the cost of food,
transportation, medical, housing and other expensive directly
effecting the cost of living in california.
The UCLA Center for Health Policy Research based its calculations
using widely accepted and credible national and state data
sources such as the U.S. Census Bureau and the U.S. Department of
Housing and Urban Development. Geographically relevant data was
used for each county in California, reflecting local market rates
for items such as housing, food, and health care.The policy
brief was presented at a legislative hearing in Sacramento
on February 27 made possible by many contributing
foundations.
How gas prices are effecting the real estate market in
California
The rising cost at the pump are directly effecting the fall
of home prices in Southern California. Recent figure show
that real estate has fallen 25% in the last year alone
and even more so in some outer suburan neiborhoods. This is
because of the longer commute to work which is something citizen
were willing to accept for more affordable home. But now home
buyers are force to factor in gasonline prices into their home
buying decision. This is directly affecting real estate prices in
these regions. The money that they would save buying these
homes is offset by the rising cost of fuel. Recent reports reflex
this reluntancy, median home prices drop all the way from
$500,000 down to 375,00 in one year! This was the biggest yearly
drop in real estate in over 30 years. Lancaster and Palmdale were
reported as the worst median home prices fell an average of 40%
in these communities. Los Angeles fell around 25% and San
Bernardino County drop down 31%. To make matters worse experts
say that these communities will take much longer to recover than
the bigger cities. Foreclosures are also playing a role in this
declining housing market but the rising cost of gas prices are
believe to be the cause. It is predicted that we are only half
way through this drop. It is said that until home falls to a
amount people can afford to pay we wont see a bottom out. Other
experts say that their is a strong arument that prices are coming
down fast enought to attract bargain huntings and that demand
will go up because home builders have stopped building new homes.
It really hard to say what exactly will happen to the market at
this point. No one can really accurately predict what will
happen. One thing is for sure their are some really great deals
out there for home buyers. There are some really great deals on California Real
Estate
Cost of living
Comparisons
San
Diego Cost Of Living
in California
San
Jose Cost Of Living
in California
Bakersfield Cost Of Living
in California
Sacramento Cost Of Living
in California
Fresno Cost Of Living
in California
San
Francisco Cost Of Living
in California
Los
Angeles Cost Of Living
in California
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