Downey, CA is a city located in Los Angeles County with an estimated population of 111,772. The 2 bedroom rent in the area is $2,290 compared to the US average of $1,430 making it one of the more expensive areas to live in California. Additionally, the grocery cost index in this city is higher than the US average at 102.
Given its location in Los Angeles County, Downey has a sizable number of industrial and manufacturing companies including Damon Industries Incorporated, Pylon Manufacturing Corporation, KECO Engineering Company, and Pegasus Products Incorporated. It also has a lively downtown area with several restaurants, bars and shopping centers like Stonewood Center and Towne Centre at Downey.
On overall basis it can be said that despite being slightly more expensive than some other parts of California, Downey offers a relatively low cost of living for Los Angeles County standards due to its diverse economic opportunities provided by local companies as well as its proximity to other cities in the county.
Downey (zip 90242) has an unemployment rate of 11.6%. The US average is 6.0%.
Downey (zip 90242) 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 32.9%, which is lower than the US average of 33.5%.
Tax Rates for Downey (zip 90242)
- The Sales Tax Rate for Downey (zip 90242) is 10.0%. The US average is 7.3%.
- The Income Tax Rate for Downey (zip 90242) 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 Downey (zip 90242)
- The average income of a Downey (zip 90242) resident is $20,484 a year. The US average is $28,555 a year.
- The Median household income of a Downey (zip 90242) resident is $75,005 a year. The US average is $69,021 a year.