Cost of Living in Parkway, CA

With a cost of living index of 110, Parkway, CA is somewhat more expensive than average. Living here is 10% more expensive than the national average and 34% below the California state average of 144. Parkway is a smaller community of 15,880 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Parkway's cost of living. The median monthly rent is $1,402 (6% above the US median of $1,319), and the median home value sits at $355,400 (17% above the national median of $304,900). At current prices, the median home costs roughly 5.5x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Parkway is $64,380, which is 14% lower than the national median of $75,149. Residents spend roughly 26% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability.

Climate is another factor for anyone considering a move to Parkway. The area sees an average annual temperature of 61.8°F, with summers averaging 74°F and winters around 49°F. Annual rainfall totals 18.1 inches spread over roughly 58 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Sacramento-Roseville-Folsom, 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.