What is the Real Cost of Living in Palo Cedro?

Palo Cedro is a small and charming community in Shasta County, California. It is an appealing destination for people seeking a serene suburban lifestyle. It is known for its scenic beauty, serene atmosphere, and abundant recreational opportunities.

This community also has amazing parks, such as Palo Cedro Park, where residents can enjoy various leisure activities. Residents can also host events such as weddings or attend music events at the newly established Yale Pavilion.

Palo Cedro is a thriving community with plenty of beautiful homes, convenient shopping, fine dining options, and excellent schools such as the Chrysalis Charter School. Living costs in this community are 10.4% higher than the national average. This makes it more affordable than most places in California. The following analysis reveals the cost of living in this community by examining the costs of common expenses, including housing, transportation, utilities, and groceries.

Palo Cedro is a conservative town that offers its residents a rural feel where home prices are lower than in other upscale California communities. For that reason, most residents here own their own homes. Statistics show 94% of all residents own their homes, while the national rate is 36.2%.

Housing expenses have always been one of the biggest contributors to living costs in any place. Housing in Palo Cedro is relatively affordable compared to many regions in California. According to Niche, the median home price in Palo Cedro is $454,500, which is considerably more than the national average of $244,900. Median rental costs are about $1,547 per month, while the national average is $1,163 per month.

The latest market data shows that single-family home prices in Palo Cedro are around $824,500, and the average price per square foot is $333. The same data shows that Palo Cedro has a low population of around 3,275 and a total of 1,621 housing units. Demand is quite high, with single-family homes staying on the market for about 60 days. The homeowner vacancy rate is about 0.8% in this area, and the rental vacancy rate is 0.0%. This means that people are seeking homes to move into the town, thus increasing the demand for housing in Palo Cedro.

Prospective residents should note that home prices vary depending on various factors, including the size, location, and condition of the property. It is advisable to consult with local real estate agents to obtain more accurate and up-to-date information on home prices in Palo Cedro.

Palo Cedro is well-connected to neighboring cities and communities. It's only about nine miles from Redding, meaning residents don't need to commute long distances to access amenities, workplaces, and entertainment options. However, this city has limited public transportation options, and almost all residents rely on personal vehicles for daily commuting. The national average of commuters who drive to work is 85.5%.

About 97.20% of workers who reside in Palo Cedro commute to jobs outside of this town, while only 43.7% of all the people in the United States live and work in different cities. The average travel time to work is 17.5 minutes, while the national average is about 26.6 minutes.

There are parking fees associated with certain establishments within the town, despite it being suburban. These include shopping centers, event venues, and downtown areas. Municipal parking regulations also require fees for street parking in certain parts of the town. These fees vary depending on the time duration of the parking. Taking into account the travel time, cost of gas, and parking, the average cost of transportation in Palo Cedro is 96.4% of the national average. In comparison, California's average is 133.1% of the national average.

Residential electricity prices in February 2023 were about $0.27 cents per kilowatt hour. This was more than the national average rate. The total amount of electricity consumed in a household depends on the number of residents, the size of the property, and energy consumption patterns. In addition, seasonal variations, such as increased air conditioning in the summer months or heating demands in winter, affect electricity usage.

Natural gas is another major utility that affects the cost of living in Palo Cedro. The average price for natural gas in February 2023 was about $25.97 per thousand cubic feet, while the national average was $15.20. Water costs are determined by usage to encourage conservation. Generally, the cost of utilities in Palo Cedro is 114% of the national average, while California's average is 102.4% of the national average.

The major source of food in Palo Cedro, or anywhere, is groceries. Palo Cedro does have options for dining out also. Palo Cedro Farmers' Market & Craft Fair is another food source. Local farmers assemble here to sell fresh, locally grown produce at competitive prices.

In general, the cost of groceries in Palo Cedro is 103.6% of the national average. This is lower than California's average, which is 105.1% of the national average. A single adult in this town spends an average of $3,111 on food per year, while a family of four spends about $8,986 per year. The national average is $3,240 per adult and $9,354 for a family of four, and California's average is $3,468 and $10,016, respectively.

The income levels in Palo Cedro are favorable compared to the nation as a whole. As of May 19th, 2023, 4.7% of Palo Cedro's population was unemployed. The average household income in this town is $90,099, and the poverty rate is 3.52%.

Are you impressed by Palo Cedro and what it has to offer? Amanda Nardo is a top-rated and experienced realtor who has helped many buyers browse Palo Cedro homes for sale and find one suitable for them. Contact Amanda today for more information about the Palo Cedro real estate market.