Monterey Park, CA Cost Of Living
Cost Of Living In Monterey Park, CA Summary
Cost of living in Monterey Park research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Monterey Park is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in California, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Monterey Park is 153, with 100 being the average.
The cost of living index in Monterey Park is 1.5x higher than the national average.
Monterey Park ranks as the #428 cheapest in California out of 635.
Monterey Park ranks as the #5,895 cheapest out of 6,412 in the US.
The median home value in Monterey Park is $667,300.
The median income in Monterey Park is $68,497.
Table Of Contents
Monterey Park's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Monterey Park, CA?
According to the most recent data on the cost of living, Monterey Park has an overall cost of living index of 153, which is 1.5x higher than the national index of 100.
Compared to California, Monterey Park has a cost of living index that's 1.1x higher than California's index of 139.
The standard of living in Monterey Park ranks as #428 most affordable out of the 635 places we measured in California. By definition, that implies Monterey Park ranks as the #207 most expensive place in the Golden State.
For more reading on life in Monterey Park, check out:
- Living In Monterey Park
- Monterey Park Crime Report
- Search Homes For Sale In Monterey Park, CA
In California
In America
Monterey Park Cost Of Living Vs. California
Six factors go into calculating the cost of living index in Monterey Park. Here is how it fairs on each of the criteria:
The Services index in Monterey Park is 115.
The Groceries index in Monterey Park is 115.
The Health index in Monterey Park is 112.
The Housing index in Monterey Park is 240.
The Transportation index in Monterey Park is 137.
The Utilities index in Monterey Park is 108.
| Living Expense | Monterey Park | California | National Average | |
|---|---|---|---|---|
| Overall | 153 | 139 | 100 | |
| Services | 115 | 110 | 100 | |
| Groceries | 115 | 112 | 100 | |
| Health | 112 | 109 | 100 | |
| Housing | 240 | 204 | 100 | |
| Transportation | 137 | 126 | 100 | |
| Utilities | 108 | 124 | 100 | |
Monterey Park, CA Housing Cost Breakdown
Housing swings affordability the most between places in California, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Monterey Park is $667,300.
The Median Rent in Monterey Park is $1,627.
The Median Income in Monterey Park is $68,497.
The Home Value To Income in Monterey Park is 9.7x.
The Rent To Monthly Income in Monterey Park is 0.29x.
| Statistic | Monterey Park | California | United States |
|---|---|---|---|
| Median Home Value | $667,300 | $573,200 | $244,900 |
| Median Rent | $1,627 | $1,698 | $1,163 |
| Median Income | $68,497 | $84,097 | $69,021 |
| Home Value To Income | 9.7x | 6.8x | 3.5x |
| Rent To Monthly Income | 0.29x | 0.24x | 0.2x |
Median Home Value
Median Rent
Median Income
Monterey Park, CA Costs By Category
Detailed Monterey Park Services Costs Vs. California
| Item | Monterey Park | California |
|---|---|---|
| Shampoo | $1.17 | $1.06 |
| Movie | $16.3 | $10.68 |
| Bowling | $21.33 | $14.67 |
| Haircut | $22.57 | $18.62 |
| Beauty Salon | $76.5 | $39.05 |
Detailed Monterey Park Groceries Costs Vs. California
| Item | Monterey Park | California |
|---|---|---|
| Ground Beef | $4.58 | $4.22 |
| Fried Chicken | $1.72 | $1.39 |
| Milk | $2.19 | $2.05 |
| Potatoes | $2.99 | $3.29 |
| Pizza | $11.66 | $10.62 |
| Beer | $9.82 | $9.38 |
| Toothpaste | $2.51 | $2.34 |
Detailed Monterey Park Health Costs Vs. California
| Item | Monterey Park | California |
|---|---|---|
| Optometrist | $125.58 | $108.57 |
| Doctor | $125.0 | $116.17 |
| Dentist | $110.78 | $99.13 |
Detailed Monterey Park Transportation Costs Vs. California
| Item | Monterey Park | California |
|---|---|---|
| Gasoline | $3.31 | $2.22 |
| Tire Balancing | $50.62 | $50.07 |
Detailed Monterey Park Utilities Costs Vs. California
| Item | Monterey Park | California |
|---|---|---|
| All Electricity | $185.68 | $167.67 |
| Phone | $189.51 | $175.64 |
Monterey Park SnackAbility
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Cost Of Living In Cities Around Monterey Park
The cost of living varies in the cities and towns around Monterey Park. Here's a quick look at the cost of living in the most populous nearby places:
East Los Angeles, CA has a cost of living index of 129, 0.8x Monterey Park.
Alhambra, CA has a cost of living index of 150, 1.0x Monterey Park.
Lakewood, CA has a cost of living index of 143, 0.9x Monterey Park.
| City | Population | Cost Of Living | Vs. Monterey Park |
|---|---|---|---|
| East Los Angeles, CA | 118,964 | 129 | 0.8x |
| Alhambra, CA | 83,174 | 150 | 1.0x |
| Lakewood, CA | 82,419 | 143 | 0.9x |
| Montebello, CA | 62,828 | 142 | 0.9x |
| Pico Rivera, CA | 62,383 | 133 | 0.9x |
| Rosemead, CA | 51,698 | 147 | 1.0x |
| Cypress, CA | 50,279 | 154 | 1.0x |
| La Mirada, CA | 47,957 | 147 | 1.0x |
| San Gabriel, CA | 39,673 | 164 | 1.1x |
| South Pasadena, CA | 26,837 | 195 | 1.3x |
