Cost of Living in Waterford, CA

With a cost of living index of 115, Waterford, CA is somewhat more expensive than average. Living here is 15% more expensive than the national average and 29% below the California state average of 144. Waterford is a smaller community of 9,177 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Waterford's cost of living. The median monthly rent is $1,567 (19% above the US median of $1,319), and the median home value sits at $372,900 (22% above the national median of $304,900). At current prices, the median home costs roughly 5.1x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Waterford is $73,092, which is 3% 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 Waterford. The area sees an average annual temperature of 63.1°F, with summers averaging 77°F and winters around 49°F. Annual rainfall totals 12.3 inches spread over roughly 53 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Modesto, 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.