Cost of Living in Mira Monte, CA

With a cost of living index of 170, Mira Monte, CA is one of the most expensive cities in the United States. Living here is 70% more expensive than the national average and 26% above the California state average of 144. Mira Monte is a smaller community of 7,301 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Mira Monte's cost of living. The median monthly rent is $2,060 (56% above the US median of $1,319), and the median home value sits at $827,300 (171% above the national median of $304,900). At current prices, the median home costs roughly 10.6x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Mira Monte is $77,900, which is 4% higher than the national median of $75,149. Residents spend roughly 32% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened.

Climate is another factor for anyone considering a move to Mira Monte. The area sees an average annual temperature of 61.2°F, with summers averaging 66°F and winters around 56°F. Annual rainfall totals 12.9 inches spread over roughly 44 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Oxnard-Thousand Oaks-Ventura, 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.