Monterey Park, California is a great place to call home. With its close proximity to Los Angeles and excellent school district, it's no surprise that it has become a desirable area to live in. Two bedroom rent in Monterey Park is $1,930 per month, which is slightly higher than the average US two bedroom rent of $1,430. Additionally, the grocery cost index in Monterey Park is 103 versus 100 in the US showing that groceries might be slightly more expensive here than compared with other areas.
The city also boasts numerous local businesses such as First Bank where residents can start savings accounts or get loans for investment properties. Star Car Wash provides reliable car washes and detailing services while The Little Kitchen serves up delicious Chinese cuisine late into the night. Residents can also shop at local clothing stores like Chico’s or Elle’s Boutique for stylish apparel and accessories. The cost of living in Monterey Park may be slightly higher than other areas but this city offers plenty of amenities to make living here worth it.
Monterey Park (zip 91754) has an unemployment rate of 10.5%. The US average is 6.0%.
Monterey Park (zip 91754) has seen the job market decrease by -12.2% over the last year. Future job growth over the next ten years is predicted to be 33.7%, which is higher than the US average of 33.5%.
Tax Rates for Monterey Park (zip 91754)
- The Sales Tax Rate for Monterey Park (zip 91754) is 9.5%. The US average is 7.3%.
- The Income Tax Rate for Monterey Park (zip 91754) 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 Monterey Park (zip 91754)
- The average income of a Monterey Park (zip 91754) resident is $33,795 a year. The US average is $37,638 a year.
- The Median household income of a Monterey Park (zip 91754) resident is $71,735 a year. The US average is $69,021 a year.