The city of Torrance, California, 90501 is a prime location for renters looking for an affordable and accessible place to call home. The average 2 Bedroom Rent in Torrance is $2,240 which is $810 more than the US average of $1,430. Additionally, the grocery cost index in Torrance is 103 compared to 100 in the US.
Torrance has a thriving business community with many local companies operating within the city limits. Notable companies include Robinson Helicopter Company, Skechers USA Inc., Honda Performance Development and Universal Studios Hollywood. These companies are just a few of the many businesses that provide employment opportunities to Torrance residents as well as visitors from around the world.
Torrance (zip 90501) has an unemployment rate of 8.2%. The US average is 6.0%.
Torrance (zip 90501) 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 33.8%, which is higher than the US average of 33.5%.
Tax Rates for Torrance (zip 90501)
- The Sales Tax Rate for Torrance (zip 90501) is 9.5%. The US average is 7.3%.
- The Income Tax Rate for Torrance (zip 90501) 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 Torrance (zip 90501)
- The average income of a Torrance (zip 90501) resident is $37,009 a year. The US average is $37,638 a year.
- The Median household income of a Torrance (zip 90501) resident is $80,816 a year. The US average is $69,021 a year.