Cost of Living in Penn Valley, CA

With a cost of living index of 130, Penn Valley, CA is a notably expensive place to live. Living here is 30% more expensive than the national average and 13% below the California state average of 144. Penn Valley is a small community of 1,197 residents.

Housing costs are the biggest factor in Penn Valley's cost of living. The median monthly rent is $1,608 (22% above the US median of $1,319), and the median home value sits at $530,100 (74% above the national median of $304,900). At current prices, the median home costs roughly 8.4x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Penn Valley is $62,966, which is 16% lower than the national median of $75,149. Residents spend roughly 31% 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 Penn Valley. The area sees an average annual temperature of 62.1°F, with summers averaging 77°F and winters around 48°F. Annual rainfall totals 20.1 inches spread over roughly 63 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

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.