90505 Torrance, CA is an idyllic place to live. It offers two bedroom apartments for rent at an average of $2,590 per month, which is significantly higher than the national average of $1,430. The grocery cost index in Torrance is also higher than that of the US, with an index of 107 versus 100 respectively. This tends to make living in Torrance more expensive than other places in the US. However, there are many local companies such as Toyota Financial Services, Kaiser Permanente and American Honda Motor Co., Inc., which offer excellent job opportunities and salaries to offset some of the cost of living there. All in all, 90505 Torrance is a great place to live if you are looking for a safe neighborhood close to work opportunities.
Torrance (zip 90505) has an unemployment rate of 8.2%. The US average is 6.0%.
Torrance (zip 90505) 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 33.8%, which is higher than the US average of 33.5%.
Tax Rates for Torrance (zip 90505)
- The Sales Tax Rate for Torrance (zip 90505) is 9.5%. The US average is 7.3%.
- The Income Tax Rate for Torrance (zip 90505) 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 90505)
- The average income of a Torrance (zip 90505) resident is $39,032 a year. The US average is $28,555 a year.
- The Median household income of a Torrance (zip 90505) resident is $101,043 a year. The US average is $69,021 a year.