What Is the Cost of Living?
Cost of living refers to the amount of money required in order to sustain a certain standard of living in a particular location. This information is helpful for those who are considering on relocating to a new city, providing an accurate idea of how much it will cost to live there since the prices of goods and services differ from one city to another. Generally, the basic expenses that are included when determining the cost of living in a location are housing costs for enters and homebuyers, food and groceries, transportation expenses, healthcare, and taxes.
The cost of living index shows the percentage variance in the cost of living between two or more locations. The values for all the items under the primary location are set at 100, while the values for the items under the other locations being compared to the primary location may be higher or lower than 100 – depending on whether these costs are higher or lower relative to those in the primary location.
For example, if you currently live in Sacramento, CA and are thinking of moving to Placerville, the cost of living index for your current location which is Sacramento would always be 100, while the figures for Placerville would either be higher or lower than 100, depending on whether the items being compared to those of Sacramento’s are more expensive or cheaper in Placerville.
2019 Cost of Living Index in Placerville, CA
If you are considering relocating to Placerville, CA, checking the cost of living index in this city would be ideal before you make a final decision. The table below compares the cost of living in Placerville with the rest of the state of California and the United States. In this table, the primary location is the United States, so all of the values under this is set at 100, while the values under Placerville and California will vary, depending on whether the expenses in these locations are higher or lower compared to the rest of the country.
From the table above, you can see that the overall cost of living index in Placerville, CA is 117 – 21 points lower than the state’s index and 17 points higher than that of the United States. Looking at each index, you’ll see that most of the goods and services in Placerville are relatively lower than those of the state, but higher than that of the country, except for utilities.
Cost of Goods and Services in Placerville, CA
Going to the beauty salon is around $15 more in Placerville than the rest of the country, at an average cost of $51.92, while the US average is $37.33. A haircut costs about $19.61 in this city, while the national average is $16.09. Going to the movies is not too expensive relative to the nation’s average, which is $13.35, just a little over the US average of $10.28. For those who love to go out bowling, the average rate in Placerville is $6.27, while the national average is $4.93. Toiletry items like toothpaste and shampoo are slightly higher than the national average, at $2.87 (national average is $2.45) and $1.23 (national average is $1.00), respectively.
Placerville, CA Housing Costs
The average price of single family homes in Placerville is $270,900, over $85,000 more than the national average of $184,700. Average mortgage payment in this city is $1,457.03, while the national average is $1,202.44. For those who are interested in renting an apartment, the average monthly rent in Placerville, CA is $1,009, just a little over the national average of $949.
Utility Costs in Placerville, CA
Monthly electricity bill amounts to an average of $168.47 in Placerville, while the national average is slightly lower at $165.96. Phone bill averages $21.67, which is lower than the national average of $28.68.
Cost of Food and Groceries in Placerville, CA
It would be better to cook your own meals if you do decide to live in Placerville, as grocery items here are almost the same amount as the
national average. Ground beef costs an average of $3.91 (national average is $3.80), a liter of milk is $2.85 (national average is $2.01), potatoes cost $3.49 (national average is $3.01), and beer are at $8.77 (national average is $8.90). While fried chicken is the same amount as the national rate at $1.40, pizza costs $14.69 in Placerville, while the national average is $9.89.
Transportation Costs in Placerville, CA
Average gas price in Placerville is $2.82, while the national average is $2.24. Tire balancing costs higher at $53.95
(national average is $46.29).
Cost of Healthcare in Placerville, CA
Going to a general practitioner in Placerville would cost around $100.28, which is lower compared to the national average of $108.36. A dental checkup would be slightly higher than the national average of $92.53, which is $96.52 in this city. Having your eyes checked would also cost you slightly higher at $122.96, the national average is $102.16. As for medicines, Ibuprofen costs $11.90 in Placerville, while the national average is $9.28. Lipitor is sold at $437.10, national average is $425.82.
The cost of nursing home care in Placerville ranges between $240 and $636 per day. The median cost is about $413 per day, or roughly $150,836 per year.
Sales tax and income tax rates vary from state to state and can run as high as 7%, while some states have no sales tax at all. The California maximum surtax is 10.25%, and the California sales tax is 7.25%. These may be higher or lower depending on the individual’s tax bracket. Tax rates can run as high as 9%, with a minimum of zero. Income tax rates range from 1% to 13.3% in California.
Moving to Placerville, CA
If you are considering on relocating to Placerville, California, it is in your best interest to know how your change of residence will affect your budget. And, if you are planning to purchase a residential property in this city, a qualified and trustworthy real estate professional will be your best partner in helping you make the right decision. I can help you achieve your dream of home ownership, just give me a call at 530-647-0865 or send me an email at [email protected]