Santa Monica, CA Cost Of Living
Cost Of Living In Santa Monica, CA Summary
Cost of living in Santa Monica 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 Santa Monica 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 Santa Monica is 265, with 100 being the average.
The cost of living index in Santa Monica is 2.6x higher than the national average.
Santa Monica ranks as the #593 cheapest in California out of 634.
Santa Monica ranks as the #6,443 cheapest out of 6,489 in the US.
The median home value in Santa Monica is $1,645,444.
The median income in Santa Monica is $109,739.
Table Of Contents
Santa Monica's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Santa Monica, CA?
According to the most recent data on the cost of living, Santa Monica has an overall cost of living index of 265, which is 2.6x higher than the national index of 100.
Compared to California, Santa Monica has a cost of living index that's 1.9x higher than California's index of 141.
The standard of living in Santa Monica ranks as #593 most affordable out of the 634 places we measured in California. By definition, that implies Santa Monica ranks as the #41 most expensive place in the Golden State.
For more reading on life in Santa Monica, check out:
In California
In America
Santa Monica Cost Of Living Vs. California
Six factors go into calculating the cost of living index in Santa Monica. Here is how it fairs on each of the criteria:
The Services index in Santa Monica is 117.
The Groceries index in Santa Monica is 110.
The Health index in Santa Monica is 106.
The Housing index in Santa Monica is 611.
The Transportation index in Santa Monica is 125.
The Utilities index in Santa Monica is 110.
| Living Expense | Santa Monica | California | National Average | |
|---|---|---|---|---|
| Overall | 265 | 141 | 100 | |
| Services | 117 | 110 | 100 | |
| Groceries | 110 | 112 | 100 | |
| Health | 106 | 110 | 100 | |
| Housing | 611 | 195 | 100 | |
| Transportation | 125 | 125 | 100 | |
| Utilities | 110 | 128 | 100 | |
Santa Monica, 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 2019-2023. The key points are:
The Median Home Value in Santa Monica is $1,645,444.
The Median Rent in Santa Monica is $2,338.
The Median Income in Santa Monica is $109,739.
The Home Value To Income in Santa Monica is 15.0x.
The Rent To Monthly Income in Santa Monica is 0.26x.
| Statistic | Santa Monica | California | United States |
|---|---|---|---|
| Median Home Value | $1,645,444 | $763,287 | $303,400 |
| Median Rent | $2,338 | $1,956 | $1,348 |
| Median Income | $109,739 | $96,334 | $78,538 |
| Home Value To Income | 15.0x | 7.9x | 3.9x |
| Rent To Monthly Income | 0.26x | 0.24x | 0.21x |
Median Home Value
Median Rent
Median Income
Santa Monica, CA Costs By Category
Detailed Santa Monica Services Costs Vs. California
| Item | Santa Monica | California |
|---|---|---|
| Shampoo | $1.41 | $1.28 |
| Movie | $13.46 | $12.13 |
| Bowling | $19.07 | $18 |
| Haircut | $24.67 | $24.26 |
| Beauty Salon | $49.33 | $45.56 |
Detailed Santa Monica Groceries Costs Vs. California
| Item | Santa Monica | California |
|---|---|---|
| Ground Beef | $6.26 | $5.84 |
| Fried Chicken | $2.08 | $1.57 |
| Milk | $4.76 | $4.67 |
| Potatoes | $4.94 | $4.93 |
| Pizza | $16.13 | $12.09 |
| Beer | $9.6 | $10.41 |
| Toothpaste | $3.76 | $3.7 |
Detailed Santa Monica Health Costs Vs. California
| Item | Santa Monica | California |
|---|---|---|
| Optometrist | $129.09 | $125.68 |
| Doctor | $119.86 | $135.78 |
| Dentist | $108.07 | $113.29 |
Detailed Santa Monica Transportation Costs Vs. California
| Item | Santa Monica | California |
|---|---|---|
| Gasoline | $4.47 | $3.46 |
| Tire Balancing | $58.33 | $59.92 |
Detailed Santa Monica Utilities Costs Vs. California
| Item | Santa Monica | California |
|---|---|---|
| All Electricity | $326.49 | $193.99 |
| Phone | $182.78 | $192.25 |
Santa Monica SnackAbility
/10
Cost Of Living In Cities Around Santa Monica
The cost of living varies in the cities and towns around Santa Monica. Here's a quick look at the cost of living in the most populous nearby places:
Los Angeles, CA has a cost of living index of 171, 0.6x Santa Monica.
Torrance, CA has a cost of living index of 190, 0.7x Santa Monica.
Inglewood, CA has a cost of living index of 159, 0.6x Santa Monica.
| City | Population | Cost Of Living | Vs. Santa Monica |
|---|---|---|---|
| Los Angeles, CA | 3,857,897 | 171 | 0.6x |
| Torrance, CA | 143,499 | 190 | 0.7x |
| Inglewood, CA | 105,575 | 159 | 0.6x |
| Redondo Beach, CA | 69,814 | 212 | 0.8x |
| Rancho Palos Verdes, CA | 41,259 | 244 | 0.9x |
| West Hollywood, CA | 35,090 | 180 | 0.7x |
| Beverly Hills, CA | 31,955 | 332 | 1.3x |
| South Pasadena, CA | 26,297 | 226 | 0.9x |
| San Fernando, CA | 23,716 | 148 | 0.6x |
| West Carson, CA | 21,909 | 153 | 0.6x |
