Cost of Living in Bishop, CA

With a cost of living index of 115, Bishop, CA is somewhat more expensive than average. Living here is 15% more expensive than the national average and 29% below the California state average of 144. Bishop is a small community of 3,793 residents.

Housing costs are the biggest factor in Bishop's cost of living. The median monthly rent is $1,431 (8% above the US median of $1,319), and the median home value sits at $405,700 (33% above the national median of $304,900). At current prices, the median home costs roughly 4.9x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Bishop is $82,205, which is 9% higher than the national median of $75,149. Residents spend roughly 21% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.