Cost of living in Beverly Hills
Beverly Hills, located in the heart of California, is renowned for its luxury lifestyle and iconic status. Understanding the cost of living in this city is crucial for anyone considering moving to or visiting this glamorous locale.
The cost of living in Beverly Hills encompasses various aspects such as dining, housing, transportation, and more. This guide provides a detailed breakdown of these expenses to help you plan your budget effectively.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $25 on average, with a range between $16 and $50.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $110, with prices ranging from $75 to $170.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $12, with a range between $11 and $15.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $6 to $12, imported beer $8 to $13, cappuccino $4 to $8, and Coke/Pepsi $2 to $4.
Grocery Prices
- Milk - Milk is priced between $0.79 and $2 per liter, averaging $1.12.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $2.2 and $7.72, with an average price of $4.94.
- Eggs (Dozen) - A dozen eggs range from $2.5 to $7, averaging $4.85.
- Fruits (e.g., Apples, Oranges) - Apples cost $2.76 to $8.82 per kg, while oranges range from $1.65 to $6.61 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1.1 and $6.61 per kg, and lettuce costs $1 to $2.99 per head.
Transportation
- Fuel (Gasoline) - Gasoline is priced between $1.12 and $1.57 per liter.
- Taxi Fares - Taxi fares start at $3.1, with a cost of $1.68 to $3.73 per km and $29.19 to $60 per hour of waiting.
- Car Purchase - A new Volkswagen Golf costs between $25,000 and $36,753.89, while a Toyota Corolla ranges from $25,000 to $30,000.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $2000 to $2800, averaging $2333.33.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1200 to $2800, averaging $2000.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre averages $5500.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent averages $5500.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $100 and $350, averaging $125.
- Internet - Internet services range from $50 to $100, with an average cost of $71.67.
Cost of Living Rankings
The cost of living indices for the United States are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in United States, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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"Key Takeaways"
Beverly Hills is known for its high cost of living, particularly in housing and dining. The city offers a luxurious lifestyle, but it comes with a premium price tag.
Renting in the city centre is notably expensive, with prices for a 1-bedroom apartment averaging over $2300. Dining out can also be costly, especially in mid-range restaurants.
Transportation costs are moderate, with gasoline prices slightly above the national average. However, owning a car can be a significant expense due to high purchase prices.
Conclusion
Living in Beverly Hills offers a unique blend of luxury and convenience, but it requires a substantial budget. The high cost of living is reflected in housing, dining, and other essential expenses.
For those who can afford it, Beverly Hills provides an unparalleled lifestyle with access to world-class amenities and services. However, potential residents should carefully consider their financial situation before making the move.