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Another California city just became one of the least affordable cities in the U.S. According to a report from the San Luis Obispo Tribune, San Luis Obispo County is now the second least affordable small metro area in the nation.
The overall cost of living in SLO was 9.5% above the national average according to a study from Porch. SLO County came after Napa where the overall cost of living is about 11.4% higher than the national average.
To determine the overall cost of living, Porch looked at the area's Consumer Price Index (CPI), which analyzes prices for basic necessities like food, utilities, transportation, clothing, and housing. According to their findings, SLO's cost of housing was around 51.7% higher than the national average. The median price of homes in SLO County is currently listed at $829,000 and the average rent as of February 2022 was $2,347 per month.
The cost of goods was also around 3.6% above the national average, according to Porch. The only area where SLO County residents aren't paying more was in utilities, where they pay 2.6% less than other metro areas. The area also had one of the higher per capita personal income averages at $62,342.
To read the full study by Porch, click here.