Housing costs in Santa Monica?
A typical home costs
$1,656,200, which is 389.9% more expensive than the national average of
$338,100 and 125.8% more expensive than the average California home, at
$733,500. Renting a two-bedroom unit in Santa Monica costs
$2,600 per month, which is 20.9% more than the national average of
$2,150 and 11.5% more than the state average of
$2,300.
Can I afford Santa Monica?
To live comfortably in Santa Monica (zip 90405), California, a minimum annual income of
$317,160 for a family, and
$81,600 for a single person is recommended.
What does A.I. say about Santa Monica?
The cost of living in 90405 Santa Monica, CA is quite high compared to other parts of the country. The average rent for a one-bedroom apartment is around $3,100 per month, while a two-bedroom will run closer to $4,400. Groceries and dining out are also pricey, with the average price for a meal costing around $15-$20. Utility bills can be expensive as well, depending on how much electricity or water is used. However, Santa Monica offers some of the best sightseeing and entertainment options in the area at reasonable rates. With great beaches and close proximity to Los Angeles, it's easy to see why so many people choose to make 90405 Santa Monica their home despite the higher cost of living.