Cost of Living in Pasadena, CA

Are you considering relocating to Pasadena, California, and wondering whether or not this city will be inexpensive for you to settle in? It is vital to know the facts first before making a decision on whether or not to migrate. It will be advantageous for you to understand the estimated cost of living in Pasadena, notably housing expenditures, which are a costly endeavor for single and married persons alike.
 
Pasadena is a component of the Los Angeles-Long Beach-Glendale Metro Division, which placed 10th in terms of cost of living among 263 metropolitan areas across the United States. It has been calculated that the cost of living index in this area is 148, which is 48% higher than the national average. As a result, it is deemed to be one of the country's most expensive cities, according to recent studies from the Council for Community and Economic Research.

Cost of Living and COL Index: Definition
 
When it comes to a specific location and period, the cost of living is defined as the total amount of money needed to cover basic living expenses and sustain a certain level of living. Lodging, meals, taxation, medical services, wardrobe, education, transport, and amusement are some of the most fundamental expenses a family can incur. A city's cost of living is highly variable. Knowing the cost of living in a particular state or city can be very useful in determining how budget-friendly it is to live in a specific location. 
 
Alternatively, the cost-of-living index illustrates the variation in living costs across different cities. It can also supply a comparative evaluation between the city's average and the national average. The cost of living index for the designated point is always represented as a number greater than one hundred.
 
This post will compare the COL indices for Pasadena to those for the rest of the United States and illustrate how they compare. When the index is greater than 100, it indicates that the cost of a particular expense is x% greater than the national average. On the contrary, a score less than 100 indicates that the price of a specific expense is lower in Pasadena when compared to the national average.

Overview of the Cost of Living Indexes in Pasadena, CA
*Food and Groceries: 104.5          
*Housing (Homeowner): 352.8     
*Median Home Cost: $992,600     
*Utilities: 101        
*Transportation: 155.5      
*Health: 86.7         
*Miscellaneous: 103.7
*Overall Index: 185.8   

Housing Costs in Pasadena, CA

*Housing expenditures in Pasadena are 252.8% greater than the national average.
*Homeownership Costs in Pasadena, California
*Pasadena, California, has a typical home value of $987,211.
*This is significantly higher than the national average for all home categories of $284,600.
*Despite the fact that property prices in Pasadena are higher than the national average, over 50% of the population own their residences.
*According to the US Census data, the rate of owner-occupied dwelling units was 42% in 2019.

Cost of Renting an Apartment in Pasadena, California
 
It costs $2,589 per month to rent an apartment in Pasadena, California. The cost of rent differs based on the duration of your lease agreement, your location concerning the city, and the number of bedrooms in your home.

*The average rent payment for a one-bedroom apartment unit in the city is $2,391.25.
*The average rent payment for a one-bedroom apartment outside the city is $1,956.87.
*The average average rent payment for a three-bedroom apartment in the city is $3,625.00.
*The average average rent payment for a three-bedroom apartment outside the city is $2,775.00.

Cost of Food and Groceries in Pasadena, CA
 
Compared to the national average, the expenditure on food and consumables in Pasadena, California, is 4.5% higher.

Average Cost of Groceries:

*Milk, 1 liter: $1.06
*Fresh White Bread, 500g loaf: $3.34
*White Rice, 1kg: $5.38
*Eggs, 1 dozen: $3.99
*Local Cheese, 1kg: $15.05
*Chicken Fillet, 1kg: $13.21
*Beef Round, 1kg: $14.10
*Apples, 1kg: $3.62
*Banana, 1kg: $1.40
*Oranges, 1kg: $3.29
*Tomatoes, 1kg: $4.20
*Potatoes, 1kg: $2.82
*Onions, 1kg: $2.02
*Lettuce, 1 head: $2.04
*Water, 1.5 liters: $1.57
*Bottle of Wine, mid-range: $12.00
*Domestic Beer, 0.5 liter: $3.10
*Imported Beer, 0.33 liter: $2.83

Average Cost of Food:
*A meal good for one at an affordable restaurant is $16.00.
*A three-course meal for two at a mid-range restaurant costs $60.00. 
*McDonald's McMeal (or equivalent combo meal) costs $9.00 per person.
*Domestic Beer (0.5-liter draught) costs $5.00 each bottle.
*Imported Beer (0.33-liter bottle) costs $7.00 each bottle.
*A regular cappuccino costs $4.31.
*A Coke or Pepsi (0.33-liter bottle) is $2.17.
*Water (a 0.33-liter bottle) costs $1.73.

Taxes in Pasadena, California
 
State and municipal taxes in Pasadena are divided into three categories: local property taxes, state income taxes, and local and state sales taxes.
 
*At 7.25%, California has one of the country's highest starting sales tax rates. This rate is only applicable to nearly less than a quarter of the cities in California.
*When the additional municipal and county sales taxes are taken into account, taxpayers could end up paying as much as 10.5% in sales tax.
*Every year, the average homeowner in Pasadena pays 0.73% in property tax, which is substantially lower by 1.0% than the national average.
*A progressive tax system is in place in California, which means that income taxes are calculated depending on an individual's yearly income.
*There are ten income tax brackets in California, with the lowest being at 1% and the highest reaching 13.3% for those earning more than $1 million.

Utility Costs in Pasadena, California

The cost of utilities in Pasadena is 1% greater than the national average.

*For a 915 square foot home, the typical cost of essential utilities is approximately $139.63.
*It is estimated that the average cost of basic utilities in Pasadena is $400-$500 for larger homes. This includes water, disposal, ventilation, furnace, and electricity.

Child Care Costs in Pasadena, California

Even though a preschool or exclusive childcare is excellent for parents who are full-time employees, this is yet another cost that you'll have to consider because it will impact your entire cost of living.

*The average childcare cost in Pasadena is $1,170 for a single child.
*It will be beneficial for you to search about your neighborhood and check who provides in-home child care and take into account the cost of at-home child care with the price of a center-based service.

Education Costs in Pasadena, California
 
There is an excellent educational system in Pasadena.
 
*Students can receive an excellent education at no cost through the public school system.
*Parents in Pasadena spend an average of $13,603 per year per child *participating in a private elementary school.
*The yearly education for a private high schooler is $29,894.
*The yearly education for an in-state community college student is $1,168.
*The yearly education for an out-of-state community college student is $7,552.
 
If you are interested in relocating to Pasadena, California, please do not hesitate to contact us so that we can assist you in your search for the ideal house for you and your loved ones. You can reach us by phone at 626-272-2365 or email at kevinkwan@century21.com to make an appointment shortly. If you have any queries, you can also write us an email.