Cost of Living in Newport Beach, California?

Choosing a place to live can be a daunting task, and there are many elements to consider. One of the most important things to many buyers, though, is the cost of living. If you’re looking to sell your home in California, it’s a good idea to know a bit about the cost of living in your area. That way, you can inform potential buyers and have a better shot at selling your house. We’re here to answer the burning question, “What is the cost of living in Newport Beach, California?”  

Cost of Living in Newport Beach

Let’s be blunt: California is an expensive place to live compared to the rest of the United States. The quality of life is incredible, but you have to shell out some money to achieve it. According to BestPlaces, Newport Beach has a cost of living index of 353.3 on a scale in which the average cost of living in the US is 100. Almost every category of expenses are above the standard, save for the cost of utilities and healthcare. 

Cost of Homes in Newport Beach

Buying a house in Newport Beach is the biggest cost one will incur when moving here. (That could be good news for you, though, if you’re trying to sell your house in Newport Beach!) Zillow reports that the typical home value of properties in Newport Beach is a whopping $2.7 million. To put this figure in perspective, Zillow also states that the average house value in California is $708,936 and that the average house value across the United States is $303,288. Even though houses are expensive out here, there are always people looking to relocate to sunny California! 

Average Salary in Newport Beach

Now we’ve essentially answered the question, “What is the cost of living in Newport Beach, California?” Luckily, the high expenses of the city can remain offset by a high salary. Of course, it’s hard to narrow down what salary one might expect to make in this city since the figures can depend on the individual’s field and experience level. However, according to PayScale, the average base salary in Newport Beach sits at $76,000. It’s entirely possible to make a comfortable living in Newport Beach, especially for those who have a household with more than one income. 

Sell Your Home

Are you looking to sell your house fast in Newport Beach? Consider working with a cash buyer! Trying to sell your home the traditional way can be overwhelming, time-consuming, and even expensive. You might find yourself waiting weeks or even months to get paid. Working with a cash buyer means that you can sell your home and get paid within just a couple of weeks, regardless of the condition of your property. Call for offer today! We are happy to work with you to see how much you could earn for your home.