Cost of Living in Elizabeth Lake, CA

With a cost of living index of 127, Elizabeth Lake, CA is a notably expensive place to live. Living here is 27% more expensive than the national average and 17% below the California state average of 144. Elizabeth Lake is a small community of 1,677 residents.

Housing costs are the biggest factor in Elizabeth Lake's cost of living. The median monthly rent is $1,833 (39% above the US median of $1,319), and the median home value sits at $381,500 (25% above the national median of $304,900). At current prices, the median home costs roughly 3.7x the median household income — a moderately affordable ratio by today's standards.

The median household income in Elizabeth Lake is $102,333, which is 36% 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. While incomes are above average, they more than offset the higher cost of living.

Climate is another factor for anyone considering a move to Elizabeth Lake. The area sees an average annual temperature of 62.1°F, with summers averaging 80°F and winters around 46°F. Annual rainfall totals 6.8 inches spread over roughly 28 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Los Angeles-Long Beach-Anaheim, CA (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 6 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.