Housing costs in Torrance?
A typical home costs
$880,000, which is 160.3% more expensive than the national average of
$338,100 and 20.0% more expensive than the average California home, at
$733,500. Renting a two-bedroom unit in Torrance costs
$2,240 per month, which is 4.2% more than the national average of
$2,150 and 2.7% cheaper than the state average of
$2,300.
Can I afford Torrance?
To live comfortably in Torrance (zip 90501), California, a minimum annual income of
$168,480 for a family, and
$70,400 for a single person is recommended.
What does A.I. say about Torrance?
The cost of living in 90501 Torrance, CA is relatively high compared to other parts of the country. According to Sperling's Best Places, the cost of living in 90501 is 48% higher than the national average. Housing costs are especially high due to the area's desirability; homes have a median value of over $715,000 and rent for an average of $2,500 per month. Groceries also tend to be more expensive than average due to the upscale nature of some stores in the area. Utility costs tend to be on par with the national average, but transportation costs are higher due to long commutes and reliance on cars for travel. All in all, 90501 Torrance, CA is an expensive place to live.