How Much Does It Cost To Live In Santa Clarita Valley?
Are you thinking about living in Santa Clarita and are curious about what it costs? In this episode of The SCV Connect, I’m going to break down the cost of living in Santa Clarita Valley. We're going to share everything from the cost of housing to the cost of gas so you’ll know exactly what to expect.
SCV Housing Costs
If you're thinking of moving to the SCV but aren’t familiar with the area, it’s important to understand the cost of living. First, let's talk about the obvious: the cost of housing. One of the first things you'll need to decide is if it’s better to buy or rent. Next, you’ll want to ask yourself what kind of housing you need. Whether you’re single or have a family, answering these questions will help you figure out what you’ll need.
The price of housing varies---and my team and I can send you more detailed information—but here are some general pointers. The average price for a home in the SCV is about 25% less than it is in the San Fernando Valley. You’ll save money moving here, with the average single three-bedroom house priced at approximately $664,000. A three-bedroom condo in the same area would run roughly $463,000. The average two-bedroom, single-family home in the SCV is at about $581,000. A two-bedroom condo in the same area will run roughly around $367,000.
Renting, Taxes, And Daily Living
If you're looking to rent in the area, you can plan on spending anywhere between $2,500 on the low end to $5,000 or more on the higher end each month. But remember, you won’t be building equity when you rent. The average three-bedroom, single-family rental home in the SCV is roughly $3,000 a month, while a two-bedroom will cost $2800 a month. A good rule of thumb and pricing is that it gets more expensive if you live closer to the freeways versus living a little further inland.
Property taxes in our area vary, though you can expect a typical property tax for LA County to be 1% plus Local assessments. This adds up to about 1.5% here in SCV. Many of the newer communities have additional Mello Roos tax, a special tax assessment that's created in California to finance local infrastructure or services. These allow specific communities to raise money for local projects, like schools and street lighting.
The annual state income tax here in the SCV is about 13.3%. Gas prices currently average around $3.35 and yes, you will need a car. This does make it a fairly expensive place to drive around.
Experience Santa Clarita Living
I hope this gave you some insight into the cost of living in Santa Clarita. If you have any additional questions about the SCV, please don't hesitate to reach out. My team and I help people all the time with moving around or relocating here and we’d be happy to help you, too.
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