Cost of Living in Pasadena

Cost of Living in Pasadena, Ca

Moving to a new residence is one of the most exciting yet challenging milestones that some people go through at least once, and we’re more than happy to give you some idea about the cost of living in Pasadena, CA. You’ll need to decide on numerous factors before you even pack your bag and go, and one of these factors is considering the cost of living in your new place. You might be one of many people pondering relocating to the charming town of Pasadena, but you want first to grasp how much it costs to live here and know what unforeseen expenses you might come across after moving here. According to a report, the cost of living in Pasadena, CA is among the top 10 most expensive urban areas across the United States. Here, the cost of living index is estimated to be 48% higher than the national average, making it one of the more expensive cities in the country. Although living in Pasadena is quite costly, its real estate market is still booming thanks to the perks of living here, such as the safe neighborhoods, good public schools, and many job opportunities.

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Housing Cost in Pasadena

One factor you should consider when determining the cost of living in Pasadena, CA is the cost of housing. In Pasadena, the median of a property is $987,211, which is significantly higher than the national median home value of $284,600. For homes built in 1939 or earlier, the median value costs $770,500, while the median value of a house built in 2014 or later is $826,400. When compared to purchasing a property, the cost of renting can often be considerably cheaper. For rentals, on average, Pasadena’s rent is roughly $2,589 per month, which places it in the 80th percentile when compared to the state’s average rent of $1,931. Households in Pasadena have a median income of $7,435 per month, so the average renter in Pasadena is spending roughly 27% of their earnings on housing. Note that rent expenses vary depending on your rental contract, proximity to the metropolis, and the number of bedrooms your home has.

Utilities and Food Cost

Food and utilities are other everyday expenses that significantly impact the overall cost of living. In Pasadena, food costs are 4.5% higher and are above the national average, so when living in this city, you must budget wisely. For residents of Pasadena, a single adult spends an average of $3,448 on food annually, while a family of four spends about $9,957. To put things in perspective, the average annual food costs in California and the United States are $3,468 and $3,240— and this is for an adult alone, while the yearly food costs for a family of four are $10,016 and $9,354. For many homes in Pasadena, essential utilities such as water, garbage, cooling, heating, and electricity cost much more than the national average. So, a household should save around $400-$500 monthly to cover utility expenses. Although the cost of living in Pasadena is expensive, the city makes up for this with the many opportunities, activities, and conveniences it provides its residents.

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