California State is a great place to live with many advantages over other states in the country. The average two bedroom rent is $2,150, which is significantly higher than the US national average of $1430. Furthermore, California's grocery cost index is 105 compared to the US average of 100, indicating that groceries are more expensive in this state. It's no wonder that so many people and companies flock to California for its excellent living conditions and opportunities.
There are several local companies that are thriving in California State. Amazon recently opened their second headquarters in San Francisco and has invested billions into the local economy. Apple is also headquartered in Cupertino and provides many jobs throughout the state. Tesla Motors has become synonymous with electric vehicles and their Gigafactory has created thousands of jobs in Nevada County. Finally, Google has been a major driver of growth in Silicon Valley since its inception in 1998; it currently employs thousands of Californians across its various offices.
California has an unemployment rate of 8.2%. The US average is 6.0%.
California has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 34.0%, which is higher than the US average of 33.5%.
Tax Rates for California
- The Sales Tax Rate for California is 8.5%. The US average is 7.3%.
- The Income Tax Rate for California 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 California
- The average income of a California resident is $29,906 a year. The US average is $28,555 a year.
- The Median household income of a California resident is $84,097 a year. The US average is $69,021 a year.