Cost of Living in Silver Lakes, CA

With a cost of living index of 114, Silver Lakes, CA is somewhat more expensive than average. Living here is 14% more expensive than the national average and 30% below the California state average of 144. Silver Lakes is a smaller community of 5,789 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Silver Lakes's cost of living. The median monthly rent is $1,585 (20% above the US median of $1,319), and the median home value sits at $345,600 (13% above the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Silver Lakes is $111,857, which is 49% higher than the national median of $75,149. Residents spend roughly 17% 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 Silver Lakes. The area sees an average annual temperature of 68°F, with summers averaging 87°F and winters around 50°F. Annual rainfall totals 3.8 inches spread over roughly 22 days. Hot summers are common, which can affect utility costs and lifestyle.

Everyday prices in the Riverside-San Bernardino-Ontario, 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.