What Is The Cost Of Living In San Luis Obispo?
May 12, 2023Are you searching for the cost of living in San Luis Obispo? Then read this article, in this, we are going to mention all kinds of expenses, including minor and major. San Luis Obispo is one of the popular tourist destinations and a great city located in the state of California, United States. It is one of the great places to live according to the quality of life, but the cost of living here will surprise you. It is popular for its lively downtown, historic, Spanish mission, hiking trails, museums and art galleries, great eateries, and wine and craft beer tasting rooms. Take a copy and paper, let’s estimate the cost of living in San Luis Obispo.
What Is The Cost Of Living In San Luis Obispo?
The cost of living in San Luis Obispo is $8,731 per month or $104,773 per year to afford a moderate lifestyle. Below, in the table format, we have given the cost of living comparison with the national index having a value of 100. If the cost of living San Luis Obispo Ca is more than 100 then it means San Luis Obispo is more expensive than the national average and vice versa. So, the cost of housing, grocery, health, and median house costs is more than the national average. While the remaining expenses are less than the national average. From the table given below, you will get an idea of how much do you need to make to live in San Luis Obispo.
| Cost Of Living For | San Luis Obispo | USA |
|---|---|---|
| Housing | 282.9 | 100 |
| Grocery | 109.8 | 100 |
| Transportation | 83.8 | 100 |
| Utilities | 95 | 100 |
| Health | 108.9 | 100 |
| Miscellaneous | 143.3 | 100 |
| Median Home Cost | $932,400 | $291,700 |
| Overall | 154.7 | 100 |
Home Rent
Why it is so expensive to buy a house in San Luis Obispo? Well, purchasing a home can be a lengthy and complex process. Besides the down payment, which is usually 15 to 20% of the selling price, there will be closing costs. In San Luis Obispo, renting a house is a lower-cost alternative to buying a house. Some 62% of occupied homes are rented, greater than the 36.2% national renter rate. The specific renter in San Luis Obispo pays around $1,461 per month on housing. Here we have mentioned a table giving you the cost of rent for one and two-bedroom houses in different cities across the state. This table will give you San Luis Obispo housing cost.
| City | Approx 1 Bedroom Rent | Approx 2 Bedroom Rent |
|---|---|---|
| Los Angeles | $2100 | $3350 |
| San Francisco | $1900 | $6,995 |
| Sacramento | $1995 | $2195 |
| San Diego | $2805 | $5240 |
| San Bruno | $3090 | $4000 |
Food Cost
When you compare the cost of living San Luis Obispo vs Los Angeles, then you will find San Luis Obispo is costlier than Los Angeles because of higher food costs. In San Luis Obispo, a single adult expects to spend around $3,805 on food per month while a family of four spends around $10,989 per month on food. Here is a table showing you the cost of dinner for two people across the different cities in the state of California.
| City | Approx Dinner Cost For 2 |
|---|---|
| Los Angeles | $56 |
| San Francisco | $100 |
| Sacramento | $84 |
| San Diego | $84 |
| San Bruno | $120 |
Travel Cost
In San Luis Obispo, the city transit is the city’s bus and provides daily fixed-route transit services within the City limits and to Cal Poly. According to the estimation of EPI, in San Luis Obispo, a single person spends around $11,909 per year on transportation, which is more than the national average of $9,760 per year.
Other Expenses
There are also some other expenses that affect the cost of living in San Luis Obispo. Let’s have a look at them.
Health Care
In San Luis Obispo, for a single adult living in the area, average healthcare costs come out to $4,402 per year, compared to an average of $3,711 across the state of California and $4,266 across the country.
Utility Bills
The utilities include electricity, water, heating, cooling, and garbage. Well in San Luis Obispo, the average household pays around $2,557 per month on bills compared to the United State average of $2,003.
Internet Bills
In San Luis Obispo, the cost of the internet is dependent upon the provider and speed. So, a plan from AT&T will cost you around $55 per month for 10 to 5,000 Mbps. while a plan from Spectrum will cost you around $49.99 per month for 300 to 1,000 Mbps.
Fitness
Well, the cost of fitness is not fixed in San Luis Obispo and it changes according to the types of gyms or fitness clubs and the number of services they are providing. To save some money you can do your exercise at your home.
Entertainment
There are multiple affordable places in San Luis Obispo so you can take advantage of them. These places, include Pismo Beach, Edna Valley and Arroyo Grande, San Luis Obispo Museum of Art, and many more.
Taxes
Few expenses vary as much as taxes. According to the state and federal income taxes, as well as social security contributions and Medicare payroll taxes, the average adult working in San Luis Obispo, California pays $8,183 per year.
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FAQ
Is San Luis Obispo More Expensive Than Los Angeles?
You would need around 6,678.0$ in San Luis Obispo, CA to maintain the same standard of life that you can have with 7,100.0$ in Los Angeles, CA (assuming you rent in both cities). This calculation uses our Cost of Living Plus Rent Index to compare cost of living. This assumes net earnings (after income tax).
Is San Luis Obispo A Good Place To Live?
SLO offers a great quality of life with a charming downtown, a small-town feel, and a more laid-back lifestyle. The city may be small, but it offers plenty of nightlife and it’s heaven for outdoor enthusiasts.
What Is The Cost Of Living In San Luis Obispo Vs San Francisco?
Cost of Living Comparison Between San Luis Obispo, CA and San Francisco, CA. You would need around 8,901.8$ in San Francisco, CA to maintain the same standard of life that you can have with 6,700.0$ in San Luis Obispo, CA (assuming you rent in both cities).
Is 60K Enough To Live In California?
California is a big place. It ranges from cities as bankrupt as Stockton to as expensive as San Francisco, breaking all records in the U.S. In many cities like Sacramento, Chico, etc you can have a decent life on $60K
Conclusion
From this article, you have understood the cost of living in San Luis Obispo County California in detail. According to the CPI of San Luis Obispo, the city is not getting much more expensive. The cost of living in the city is trending up by 0.7%. This is a good thing, however, you will need to know what the consumer expenditures in San Luis Obispo are if you want to know whether you can afford to live here. We have all mentioned above regarding the cost of living in San Luis Obispo.
