Cost of living refers to the amount of money necessary to cover an individual’s basic expenses in a particular location and time period. This includes housing, food and groceries, utilities, transportation, healthcare, and miscellaneous expenses.
Gaining information on Carmel by the Sea cost of living can help you assess the affordability of living in this location compared to your current place of residence. This is particularly helpful if you are considering relocating to this beautiful beach city.
The table below shows the Cost of Living Index for Carmel-by-the-Sea. This table shows the cost difference of living in Carmel-by-the-Sea compared to the state of California and the rest of the nation.
| Index | Carmel-by-the-Sea | California | United States |
|---|---|---|---|
| Overall | 151.9 | 149.9 | 100 |
| Food & Groceries | 118.8 | 105.1 | 100 |
| Healthcare | 143.7 | 98.3 | 100 |
| Housing | 651.7 | 234.8 | 100 |
| Utilities | 86.8 | 102.4 | 100 |
| Transportation | 103.7 | 133.1 | 100 |
| Miscellaneous | 112.1 | 118.7 | 100 |
The Cost of Living Index is based on a national average of 100. From the figures provided above, you can see that the overall cost of living in Carmel-by-the-Sea is 51.9% higher than the national average.
Carmel by the Sea Housing is the highest expense, 551.7% higher than the rest of the nation. This is followed by Healthcare, which is 43.7% higher than the national average. The least costly expense is Utilities, which is 13.2% lower than the national average.
To live comfortably in Carmel-by-the-Sea, CA, the recommended minimum annual income for a family is $367,200, and for a single person, $124,400.
Housing Costs
As of May 2024, the median listing home price in Carmel-by-the-Sea, CA, was $3.5M. Homes for sale have a price range of $1.6M to $30M.
The cost of renting a house in Carmel-by-the-Sea, CA, ranges between $1,795 and $36,000. The median rent as of June 2024 is $4,600 — $1,690 lower than June 2023 and $1,400 lower than May of this year.
Utilities
Utilities are very affordable in Carmel-by-the-Sea. This expense is 13.2% lower than the national average.
| Utilities | City | National Average |
|---|---|---|
| All Electricity | $294.74 | $193.99 |
| Phone | $190.07 | $192.25 |
Credit: Image by Michael Burrows | Pexels
Food and Groceries
The cost of food and groceries in Carmel-by-the-Sea is 18.8% higher compared to the national average. Below are some basic grocery items with their corresponding average costs in this location and on the national level.
| Item | Average Cost | National Average |
|---|---|---|
| Ground Beef | $5.79 | $5.84 |
| Fried Chicken | $2.13 | $1.57 |
| Milk | $5.05 | $4.67 |
| Potatoes | $4.77 | $4.93 |
| Pizza | $14.92 | $12.09 |
| Beer | $10.99 | $10.41 |
If you prefer to dine out instead of cooking your meals at home, here are some of the best restaurants in the area:
Transportation
There is no public transportation within the city limits, but residents and visitors have a few options available to them for getting around.
The Monterey–Salinas Transit provides bus service daily from Carmel Valley to Monterey Peninsula College and local service within Carmel Valley. Its 22/23 Ocean & Junipero Express goes through Ocean Avenue in downtown Carmel-by-the-Sea.
Other modes of transportation available in Carmel-by-the-Sea include taxi services, shuttles, bike-sharing programs, and car rentals.
For those who drive their own vehicles, the table below shows the average costs of gasoline and tire balancing in the area vis a vis the national average.
| Item | Carmel-by-the-Sea | National Average |
|---|---|---|
| Gasoline | $4.81 | $3.46 |
| Tire Balancing | $65.62 | $59.92 |
Credit: Image by Anna Shvets | Pexels
Healthcare
Healthcare is the second highest expense in Carmel-by-the-Sea, 43.7% higher than the national average.
The city is served by several local hospitals, mental health centers, and medical facilities which provide excellent care for residents and visitors alike. These facilities offer a range of services, from primary care to specialized treatments such as cardiology and orthopedic surgery.
Below, you’ll see the average rates of medical practitioners and common medicines in Carmel-by-the-Sea alongside the national average.
| Item | Carmel-by-the-Sea | National Average |
|---|---|---|
| Optometrist | $158.95 | $125.68 |
| Doctor | $194.05 | $135.78 |
| Dentist | $147.78 | $113.29 |
| Ibuprofen | $11.51 | $10.65 |
| Lipitor | $390.15 | $468.60 |
Credit: Image by Yan Krukau | Pexels
Education
Carmel-by-the-Sea is well served by the Carmel Unified School District. The public school district has 4 elementary schools, 1 middle school, and 2 high schools.
64% of elementary students tested at or above the proficient level for reading, while 60% tested at or above that level for math.
For middle school students, 80% tested at or above the proficient level for reading, and 68% tested at or above that level for math.
At the high school level, 82% of students tested at or above the proficient level for reading, and 56% tested at or above that level for math.
To learn more about the public and private schools in the area, click here.
Cost of Living Comparisons
To gain further insight into the cost of living in Carmel-by-the-Sea, the tables below show a comparison with nearby Monterey and another one with the state of California:
Carmel-by-the-Sea vs Monterey
| Index | Monterey | Carmel-by-the-Sea | United States |
|---|---|---|---|
| Overall | 151.9 | 151.9 | 100 |
| Food & Groceries | 110.4 | 118.8 | 100 |
| Health | 143.7 | 143.7 | 100 |
| Housing | 333.3 | 651.7 | 100 |
| Utilities | 87.1 | 86.8 | 100 |
| Transportation | 92.1 | 103.7 | 100 |
| Miscellaneous | 112.2 | 112.1 | 100 |
Carmel-by-the-Sea vs California
| Index | California | Carmel-by-the-Sea | United States |
|---|---|---|---|
| Overall | 149.9 | 151.9 | 100 |
| Food & Groceries | 105.1 | 118.8 | 100 |
| Health | 98.3 | 143.7 | 100 |
| Housing | 234.8 | 651.7 | 100 |
| Utilities | 102.4 | 86.8 | 100 |
| Transportation | 133.1 | 103.7 | 100 |
| Miscellaneous | 118.7 | 112.1 | 100 |
Conclusion
Living in Carmel-by-the-Sea, CA, may be more expensive than the rest of California, but the breathtaking views and luxurious lifestyle is all worth it!
If you’d like to know your home options in Carmel-by-the-Sea, feel free to contact us today at (831) 292-5097 or Team@TheHeinrichTeam.com to schedule an appointment.
Frequently Asked Questions
Is Carmel-by-the-Sea an expensive place to live?
Yes, the cost of living in Carmel-by-the-Sea is 51.9% higher than the national average.
What is the median home price in Carmel-by-the-Sea?
As of May 2024, the median listing home price in Carmel-by-the-Sea, CA was $3.5M.
How much does it cost to rent an apartment in Carmel-by-the-Sea?
The cost of renting a house in Carmel-by-the-Sea, CA ranges between $1,795 and $36,000.
