Santa Monica, California is a great city to live in! It has a thriving economy that is home to many businesses and organizations, as well as recreational activities for people of all ages. Rent for two-bedrooms is significantly higher than the national average; however, there are more options available in comparison. Grocery cost index is also higher than the national rate at 111 versus 100 which means that food costs more here. When it comes to local businesses and places, Santa Monica has some of the best. Popular companies such as Snapchat, Universal Music Group and Miramax have their headquarters nearby, while iconic spots like The Pier, Santa Monica Beach and Third Street Promenade offer plenty of entertainment and fun.
Santa Monica has an unemployment rate of 7.9%. The US average is 6.0%.
Santa Monica has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 33.0%, which is lower than the US average of 33.5%.
Tax Rates for Santa Monica
- The Sales Tax Rate for Santa Monica is 10.3%. The US average is 7.3%.
- The Income Tax Rate for Santa Monica is 9.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Santa Monica
- The average income of a Santa Monica resident is $58,252 a year. The US average is $28,555 a year.
- The Median household income of a Santa Monica resident is $99,847 a year. The US average is $69,021 a year.