Conversations regarding the increased cost of living since the COVID-19 pandemic have remained on the forefront nationwide, including in California. Woodland has also felt the punch dealt by rising inflation rates, as new data shows residents are spending over $30,000 a year on bills.
A report released by doxoInsights revealed a household in Woodland pays 19% more in household bills per month than the national average — approximately $2,529 per month, to be exact. This reflects a growing trend in California as prices in the Golden State continue to rise above other states’ averages.
According to the California Legislative Analyst’s Office, prices across the state have grown about 20% overall since 2020. Reporting from CalMatters found in 1960, the average renter was spending around 20% of their gross monthly income on housing. Now, the average California renter has to reserve nearly 40% of their paycheck just for rent, not including utilities or other household bills.
Woodland has an average income of $84,494 per household, and according to the report from doxoInsights, 35% of the income is used for household bills.
The other averages include:
Mortgage: $2,046
Rent: $1,445
Auto Loans: $524
Utilities: $396
Health Insurance: $173
Auto Insurance: $197
Cable & Internet: $80
Mobile: $115
Alarm & Security $80
Life Insurance: $98
In addition to this report, doxo’s cost of living data for Woodland shows:
The average Woodland household pays $2,529 per month for the 10 most common household bills. This makes Woodland the #344 most expensive city in California.
The cost of living in Woodland is 19% higher than the national avg. of $2,126, and 16% lower than the state avg. of $3,010.
Since 2020 and the peak of the COVID-19 pandemic, housing costs in California have grown faster than wages. In just four years, monthly payments for a middle of the road home increased by 75%, while the average hourly wage only increased by 22%.
California is also known for its traffic and high vehicle-related expenses. Just this summer, the cost of gas averaged $4.80 per gallon, the highest in the country. Auto insurance costs are also higher than the rest of the nation, estimated to cost $1,713 per year — 20% more than the national average.