This city is almost perfect… but we do have a few problems. One of the biggest is the Irvine CA cost of living, which is expensive. How expensive? If you’re moving to irrepressible Irvine, read on to see what it costs to live in this world-class city.
Ask most who live in Irvine, CA, and they’ll say they would never live anywhere else. One big reason why is that the weather here is as close to perfect as anywhere in the world. Most days are warm and sunny, and most evenings cool and crisp. Low clouds and fog in the morning make way to bright, sunny days almost daily. Put it all together, and it’s easy to see why many are so passionate about this place, even with the expense.
By the way, if you want to discover all the other Pros and Cons of living in Irvine, CA, we wrote a blog on that too. We’re CA Storage, the Irvine, CA storage experts. If you have questions about self-storage to save space at home or work, we can help! You can chat online with a friendly manager at any time. Now, on to the Cost of Living in Irvine, CA.
What Does The Cost of Living in Irvine, CA Include?
Seven different costs make up the overall cost of living in any city. (They’re listed in full below.) Some may affect your budget more than others, depending on your situation. For example, a retired couple won’t have to worry about transportation costs as much as a young professional. Below are Irvine’s overall score and the seven prices that it represents.
Overall = 187/100 (Expensive)
There’s no sugarcoating the fact that the cost of living in Irvine, CA, is expensive. At 187/100, we’re nearly double the national average, which represents a considerable chunk of the income you’ll earn each month. The majority of the blame for our high overall cost? The cost of housing, which is one of the highest in the United States. (More on that in just a sec.) Suffice to say, if you live in Irvine, it helps to earn a perfect living.
Cost of Housing in Irvine CA = 373/100 (Expensive)
As we mentioned above, housing costs take the blame for causing Irvine’s high overall cost score. The median home price is very high, as well as median rental prices. For example, the national average for rent is $1062 a month. Here in Irvine, CA, however, the median rent price is $2361. per month, more than double.
Surprisingly, the mix of renters and owners is nearly equal. Renters are slightly higher at 53% compared to people who own their homes at 47%. One trick that many people in Irvine uses to save money on housing is to rent a storage unit. They store the things they want to keep but don’t need all the time. That way, they can rent a smaller apartment or buy a smaller home and pay less. The overall savings can be substantial!
Cost of Healthcare in Irvine CA = 89/100 (Affordable)
At 89/100, healthcare costs are, surprisingly, below the national average. You’ll pay less for things like doctor appointments and prescription drugs in Irvine. Also, the system itself is excellent, with a high ratio of doctors to patients. (249 per 100,000 residents. The national average is 210.) Indeed, healthcare costs are one of only two where Irvine is below the national average (but not by much). As far as Irvine, CA cost of living goes, healthcare the least expensive on this list.
Median Home Cost = $864,000 (Expensive)
Purchasing a home in Irvine is where our high average cost of living comes from, as they’re costly. Remember, $864,000 is the median home price, so there will be houses that are even more expensive. Yes, there are less expensive homes, but not nearly as cheap as you can find in many other American cities.
Cost of Groceries in Irvine CA = 106/100 (Expensive)
Everyone has to eat, it’s true. The good news is that, in Irvine, your food costs won’t bust your budget. Yes, at 106/100, we’re more expensive than the national average. However, it’s only slightly more expensive. (Compared to our housing costs, food costs are a bargain!) Below are a few different grocery items and their average cost in Irvine:
- A gallon of milk = $3.67
- Dozen eggs = $3.08
- Apples = $2.30
- Tomatoes = $1.72
- White rice = $2.20
- Six-pack of domestic beer = $11.00
- Loaf of white bread = $3.46
- Chicken fillets = $4.67
- Bananas = $.70 cents
- Potatoes = $1.00
Cost of Transportation in Irvine CA = 111/100 (Expensive)
Another area where Irvine is only slightly more expensive is transportation cost. At 111/100, we won’t win any prizes for being the cheapest, but we’re not the most expensive either. That’s good because the average Irvine commuter spends just over 25 minutes driving to work. Unfortunately, only 7% of car owners carpool while just over 77% drive alone. (Even fewer take mass transit at 1.2%.)
Cost of Utilities in Irvine CA = 98/100 (Affordable)
One of the benefits of having fantastic weather the entire year is that you don’t spend a lot on utility costs. The summer isn’t so hot that you need a lot of air-conditioning. The winter? Let’s just say that the term ‘it’s freezing outside is very (very) seldom heard around here. For that reason, both electric and gas bills are affordable in Irvine. Also, many people have solar energy, which lowers their bills even more. (Do note, though, that it’s a huge pain to get the correct permits!)
Miscellaneous Expenses = 105/100 (Expensive)
In this last category, miscellaneous expenses, Irvine makes out OK. Some of those expenses include pet food, clothing, internet access, and even pet insurance. Don’t forget health insurance, auto insurance, and a fitness membership also. No matter what you’re paying for, though, you won’t spend much more than the national average.
We hope you enjoyed this article and that it answered all of your questions about Irvine, CA, cost of living. We’re CA Storage, the Irvine storage unit experts. If you have questions about self-storage to save space at home or work, we can help! You can chat online with a friendly manager any time, or come on in and chat in person! No matter what you decide, we wish you the very best in your new Irvine home!