Are you planning a move to Newport Beach, CA and wondering if it is an expensive place to live in? We’ll break down the cost of living in Newport Beach by answering the following key questions - what is expected cost of living Newport Beach, what is the median income in Newport Beach, what is a good livable salary in Newport Beach, and what are the average rent and home prices in Newport Beach.
Is Newport Beach expensive to live in?
Newport Beach is part of Anaheim-Santa Ana-Irvine Metro Div. metro area, which is ranked 5 out of 273 cities across the US in terms of cost of living. According to C2ER (the Council for Community and Economic Research), the cost of living in Newport Beach is estimated to be 150.3% of the national average making it one of the most expensive cities in the US.
Total monthly expenditure you can expect to incur depends on the cost of housing, food, utilities, transportation, healthcare, other miscellaneous goods and services. Note that your household composition (single or married, number of kids) and home ownership status (renting vs. owning) might affect your monthly expenses.
Newport Beach, CA is ranked
5/273 cities in the US
estimated to be 150.3% of the national average making it one of the most expensive cities in the US
See our Newport Beach City Guide
How do Newport Beach prices compare to other US cities?
Newport Beach is ranked 5 out of 273 cities across the US in terms of cost of living. The cost of living in Newport Beach is 150.3% of the national average.
Compare Newport Beach to:
U.S. Average
| Category | Newport Beach | U.S. Average |
|---|---|---|
| Milk (1/2 gal) | $4.83 (+3.8%) | $4.65 |
| Bread | $4.02 (+3.06%) | $3.9 |
| Hamburger | $5.71 (+6.21%) | $5.36 |
| Large Pizza | $13.49 (+10.73%) | $12.04 |
| Chicken (2 pcs) | $5.31 (+7.33%) | $4.92 |
| Doctor Visit | $110 (-19.58%) | $131.54 |
| Dentist Visit | $118.8 (+4.34%) | $113.65 |
| Rent | $2,916 (+49.59%) | $1,470.04 |
| Mortgage | $6,346.23 (+64.01%) | $2,283.8 |
| Gas | $4.44 (+24.6%) | $3.35 |
| Energy Bill | $188.65 (-2.3%) | $192.98 |
Cost of Living compared to national average
50% higher
Housing prices compared to national average
153% higher
Cost of Living Calculator for Newport Beach
Get an estimate of income required to live comfortably in Newport Beach. Our cost of living calculator will give you an estimate of your expected expenditures on food, utilities, transportation, housing, healthcare, and more. Simply pick your marital status and family type from the drop-down. The calculator will give you a breakdown of your monthly spends on food, utilities, transportation, housing, healthcare, and other miscellaneous items to help you determine your cost of living in Newport Beach. Try it now.
Your required pre-tax income
$0
Your required post-tax income
$0
| Category | Expenditure |
|---|---|
| Food | $0 |
| Utilities | $0 |
| Transportation | $0 |
| Healthcare | $0 |
| Housing (Rent / Mortgage) | $0 |
| Other Housing | $0 |
| Miscllaneous | $0 |
| Total Annual Expenditure | $0 |
What is a livable salary in Newport Beach?
The median household income in a city certainly helps gauge the cost of living. The median household income in Newport Beach is $142,463, which is 69% more than that of the state. The median income for an individual is $81,123, which is 98% more than that of the state.
The minimum salary you need to live in Newport Beach is the sum of your daily expenses (groceries, utilities, transportation, entertainment), your monthly housing-related costs (rent, mortgage, insurance, maintenance), any debt expenses (monthly interest payments and principal paydowns), as well as your savings and investment goals.
A good rule of thumb for housing affordability is the 28% rule: your monthly rent or the sum of your monthly mortgage, property taxes, and insurance should not exceed 28% of your gross income (income before tax).
Understanding the expected costs in Newport Beach can help you determine whether a given salary is a livable salary. For instance, if you know the typical housing costs in Newport Beach, you can use widely followed simple rules to determine if you can afford it on your salary. A good rule of thumb for housing affordability is the 28% rule: your monthly rent or the sum of your monthly mortgage, property taxes, and insurance should not exceed 28% of your gross income (income before tax). Another good rule of thumb is the 50-30-20 rule which says 50% of the net income (income after tax) should be spent on needs, 30% on wants, and 20% on savings and investments. So plan to ensure that your net income covers your needs and wants, so that you can live comfortably in Newport Beach, CA.
Median Household Income
$142,463
Median Individual Income
$81,123
What is the average rent in Newport Beach?
Housing is generally the biggest monthly cost that you would need to account for. The average rent in Newport Beach (located in Anaheim-Santa Ana-Irvine Metro Div.) metro area for a 2-bed home is $2,916, which is 98% more than the average rent across the US. However, this average takes into account both metro and suburban areas. So, the costs may go up or down depending on which neighborhood you eventually decide to stay.
Rent compared to national average
98% more
What is the median home price in Newport Beach?
The median home price in Newport Beach is $2,151,500 with a median price per sqft of $1,152.
The cost of living index for housing estimates the cost of housing in Newport Beach to be 252.7% of the national average. This makes it one of the most expensive cities in the US.
Median Home Price
2.15M
Median Price/Sqft
$1,152
Average Rent
$2,916
Housing Index
252.7%
What is a cost of living calculator?
A cost of living calculator helps you to assess how much you will need to make in order to live comfortably in a specific city. It takes into account various expenses that you will make in your daily lives (on housing, food, utilities, transportation, entertainment, etc.) and helps you determine a livable salary. The prices of goods and services vary in different cities, and hence having a cost of living index or calculator can make the decision to move easier by allowing you to directly compare one city with another.
About the cost of living data
- To calculate the cost of living, data has been taken from C2ER (Council for Community and Economic Research)
- The Cost of Living Index takes into account the data from 273 cities across the US
- The Cost of Living Index and hence, the ranking reflects cost differentials for professional households in the top income quintile
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