Cost of Living in Irvine, CA
Housing
The housing market plays a significant role in determining the cost of living in Irvine, CA.
- Housing Index: 130.7 / 100
- Median Home Price is: $1181909
- Average Rent (2 BR Apartment): $3200 per month
- Average Rent (2 BR House): $3360 per month
When considering a move to Irvine, CA, it's essential to recognize the higher housing index of 130.7, indicating a cost of living that exceeds the national average. With a median home price of 1181909, buying a home here may demand a significant investment. Additionally, the average rents of 3200 for apartments and 3360 for houses signify a competitive rental market. Keep in mind, investing in real estate often offers long-term financial benefits, but the current prices suggest that potential homeowners should carefully assess their budget before making a commitment.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Irvine, CA.
- Electricity Price: $32.99 USD (median by state)
- Natural Gas Price: $16.99 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Irvine, CA could entail higher utility costs. Electricity costs sit at $32.99, while natural gas is priced at $16.99 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Irvine is a financially viable option for your relocation.