Cost of living in Montecito 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 Montecito 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 Montecito is 334, with 100 being the average.
The cost of living index in Montecito is 3.3x higher than the national average.
Montecito ranks as the #630 cheapest in California out of 635.
Montecito ranks as the #6,406 cheapest out of 6,412 in the US.
The median home value in Montecito is $2,000,001.
The median income in Montecito is $193,423.
According to the most recent data on the cost of living, Montecito has an overall cost of living index of 334, which is 3.3x higher than the national index of 100.
Compared to California, Montecito has a cost of living index that's 2.4x higher than California's index of 139.
The standard of living in Montecito ranks as #630 most affordable out of the 635 places we measured in California. By definition, that implies Montecito ranks as the #5 most expensive place in the Golden State.
For more reading on life in Montecito, check out:
Six factors go into calculating the cost of living index in Montecito. Here is how it fairs on each of the criteria:
The Services index in Montecito is 104.
The Groceries index in Montecito is 103.
The Health index in Montecito is 109.
The Housing index in Montecito is 838.
The Transportation index in Montecito is 128.
The Utilities index in Montecito is 168.
|Living Expense||Montecito||California||National Average|
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 Montecito is $2,000,001.
The Median Rent in Montecito is $2,668.
The Median Income in Montecito is $193,423.
The Home Value To Income in Montecito is 10.3x.
The Rent To Monthly Income in Montecito is 0.17x.
|Median Home Value||$2,000,001||$573,200||$244,900|
|Home Value To Income||10.3x||6.8x||3.5x|
|Rent To Monthly Income||0.17x||0.24x||0.2x|
The cost of living varies in the cities and towns around Montecito. Here's a quick look at the cost of living in the most populous nearby places:
Santa Barbara, CA has a cost of living index of 197, 0.6x Montecito.
Goleta, CA has a cost of living index of 172, 0.5x Montecito.
Isla Vista, CA has a cost of living index of 143, 0.4x Montecito.