Cost of Living in Oakland, CA

By
Services for Real Estate Pros with InboundREM

From one place to another, the cost of living might vary substantially. In other words, the cost of living in one location may be utilized to calculate the cost differential in another. In order to have a better choice on whether or not you should relocate from your current location to Oakland, California, you must first learn about the cost of living in the area. Several variables, such as your profession, typical salary, and the real estate market in the region where you currently reside, might have an impact on the estimate.

Located in the East Bay, Oakland is the most populated city in the region and the third-largest metropolitan area in the Bay Area. In 2020, the city will have a population of 440,646, making it the 45th most populated city in the U.S. and the 8th most populated city in California. This city is rated 7th in terms of cost of living among 154 cities in the United States, and it is one of the most significant industrial cities in California. Examples include the Port of Oakland, which ranks No. 5 among the nation's busiest marine ports.

The cost of living in Oakland is somewhat higher than the national average in many areas of the United States. It is 74 percent higher than the national average and 12 percent higher than the average for California. House rents in this area are 216% more than the national average, while electricity expenses are 15% higher than the national average.

It is recommended that you review the neighborhood profiles and get acquainted with the local community before relocating there. A professional Oakland, CA real estate agent that has extensive knowledge of the local real estate market can make your life much more straightforward. A skilled and experienced specialist can never make a mistake when it comes to assisting you with your situation.

Following a deeper look at some of the things that many people are unaware of regarding Oakland, California, and the expense of living in this city, we will conclude this post. Continue reading to find out more.

Inaccurate Notions

There are some preconceived conceptions regarding the cost of living in Oakland, California, that we have all formed in our thoughts concerning the city's cost of living. While some of these statements are correct, many others are not. To give you an example, it has been claimed that the cost of living in this area is rather high. Contrary to popular belief, quality of life varies substantially by region. Piedmont Avenue is more costly to reside in than nearby neighborhoods, such as Trestle Glen.

Summers in Oakland are long, dry, and usually clear, while the winters are short, cold, and rainy, and the winters are partially overcast in Oakland. Throughout the year, the average temperature in this city fluctuates from 6.67°C to 23.89°C, with temperatures rarely reaching 29.4°C or dropping below 2.78°C.

This city boasts an average of 261 sunny days each year, which is a significant benefit for many residents. Rents are affordable compared to other major cities in the United States throughout the summer, thanks to the warm and dry environment. Those bright, hot days, on the other hand, may result in increased energy costs as a consequence of the air conditioners' continued operation. However, on the other side, very mild winters may result in lower than average utility expenses. It's possible that things aren't always as they seem.

If you're asking yourself the following questions: "How much does it cost to live in Oakland?" or "How much should I earn in order to at the very least retain my existing living conditions?" The answer is, it is situational. The amount of money you need to live comfortably in this city is determined by several variables, including where you reside and your family's financial situation. To estimate the cost of living in a particular place, you may utilize typical spending on basics such as rent, utilities, food, healthcare, transportation, and other primary products and services, as well as other factors.

 

Variations in Cost of Living Categories

 

Food & Groceries

Compared to the national average, the cost of food in Oakland is 11.3% more. A loaf of bread costs $3.47, while a gallon of milk costs $4.49 at the supermarket. Buying a pound of boneless, skinless chicken breasts costs $5, and a dozen large eggs cost $4.04 at the grocery store. It's possible to eat a balanced diet for less than $600 per month if you buy your food in bulk and limit the number of times you dine out.

 

Utilities
Summers in Oakland are typically scorching, while winters are cold and complemented by mild autumns. They are all going to have an impact on your monthly electricity bill in some way. In that instance, the cost of utility bills varies significantly during the year. A 1,000-square-foot apartment will cost you about $230 a month to rent.

 

Transportation
In Oakland, CA, transportation costs are lower than in many other cities. One-way adult fares in the area are $2.10, while daily passes are $5. For AC Transit fare adjustments, make sure to visit the AC Transit website regularly. Seniors, those with disabilities, and older children all pay a reduced fee, while small children ride for free.

 

Accommodation
Housing costs typically account for the majority of your monthly expenses. A two-bedroom apartment in Oakland costs an average of $2,800 per month, which is 134% higher than the average rent in the rest of the country. It is crucial to keep in mind that this estimate includes both metropolitan and suburban areas. This means that depending on whatever community you choose to reside in, your costs may differ.

In Oakland, CA, the average home price is $925,000, while the average square foot price is $670. Oakland's housing costs are 228 percent more than the national average.

 

Oakland Suburbs and Neighborhoods You Should Try Out

 

For Singles
The following neighborhoods are considered to be the finest locations to live for singles who wish to live in a vibrant area just minutes away from pubs and restaurants, with easy access to economic possibilities, and will allow them to maintain an active lifestyle: Downtown Oakland, Grand Lake, Piedmont Avenue, Temescal, Rockridge

For Families
When choosing a place to live in Oakland, adults with children would emphasize the safety of their families and the quality of the schools in the area. For families, these are the greatest neighborhoods in the city: Fairview Park, Bushrod, Lakeshore, Shafter, Lakeside, Montclair

For Retirees
Areas, where the cost of living is cheap, will be highly sought after by retirees. Also taken into consideration is the neighborhood's closeness to entertainment and retail establishments of all kinds. Retirees should consider the following areas while looking for a new home: Fairview Park, Bushrod, Lakeshore, Shafter, Lakeside, Montclair

Conclusion
When calculating the cost of living in Oakland, California, it is essential to consider the anticipated cost of the crucial needs required for a person's existence in the city. As is true in many other parts of the world, Rent is the most expensive aspect of living in this city, followed by food. Rent consumes more than 40% of household income, which is an alarmingly high percentage, and demonstrates how expensive rent is in this location, which is a shockingly high percentage. Since you are paying so much money on rent, you should receive your money's worth.

A licensed and professional real estate agent who is already familiar with the area is recommended, even if this is your first time in Oakland. You will receive an accurate estimate of the property's value as a result, and the transaction will be completed without incident.

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https://homesalesoaklandca.com/cost-of-living-oakland-ca/

 

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POSTED BY

 

Marty Griffith

510-738-3721

2603 Camino Ramon Suite 200,

San Ramon, CA 94583

https://homesalesoaklandca.com/

 

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