Located to the East of the metroplex of Los Angeles, California, the city of Riverside is located off the Santa Ana river (hence the name) and is the biggest city in Riverside County. It is the polar opposite of it's neighboring county, the incredibly wealthy, lush and coastal area known as Orange; Riverside County is mostly desert, sparsely populated and relatively lower middle class. However, there are over 300,000 people in the city Riverside itself and the overall cost of living increases slightly due to the fact that the city is more or less a distant suburb of Los Angeles. Most people who move to the city of Riverside go for the University of California Riverside, a job in a health care field at one of the city's many good hospitals or a job at the healthcare company Kaiser Permanente, whose headquarters are located here, or they are one of the nearly 12,000 who work for the county itself. Below are some details to take into account about the cost of living in Riverside.
The average home in Riverside is currently $310,000 and the market is as high as it has been since the Great Recession of 2008. Home prices are up over 5% from the year before and have risen steadily since a low of just below $200,000 dollars four years ago in 2012. This steady 5% rise per year is expected to increase over the foreseeable future, as homes were going for a median price of $417,000 in 2006, a few years before the market crashed. In other words, it can all rise a lot more and a savvy investor who sees the potential in up and coming neighborhoods within Riverside can stand to make a real profit in the future.
For a standard 915 square foot apartment in Riverside, the basic cost of electric, gas, heating, water and garbage is around $284 per month. Much of this goes to electricity and water, since Riverside can become incredibly hot through a third of the year, considering it is in the high desert and air conditioning is critical to most resident's comfort. For example, the average high in the summer months is 93 degrees and temperatures regularly top out in the 100s. And considering there is the worst drought in California's history in full swing, water is more expensive than most places in the country, making it cost prohibitive for most to water their lawns, even within the state mandated water restrictions. Internet and cable costs average under $50 per month, but that all depends on the individual package and internet speeds.
When it comes to groceries and other essentials, Riverside is more costly than one might think. Much of this has to do with perishables and keeping them fresh, at least on the grocery front. Items like lettuce, onion, milk and raw chicken are higher than average in cost, while beer, rice, and bread is average or below average cost. Restaurant meals are about average at around ten dollars per person or $50 for three courses at an upscale establishment. However, when compared to a larger city like New York or Los Angeles, these prices are noticeably cheaper, allowing you to do a lot more with your money.
Alcohol is relatively inexpensive on average in bars and restaurants around Riverside, going for about $5, per imported beer. Movie theaters are actually cheaper than average, with tickets around $10. This may be due to the fact that many people looking to go out at night, even at the local college, venture elsewhere for entertainment, like other communities closer to Los Angeles. This forces bars and other nightlife establishments to try and compete with generally lower prices than competition, which is a farther distance away. Yet with the lower prices is also an eclectic number of options for food, giving local residents the best of both worlds. Mexican restaurants like El Habanero or El Patron will rival the quality of any in Los Angeles and there is a strong contingent of healthy Mediterranean restaurants like Ripsik's and Greek Street. The area around the University of California - Riverside is also a hot spot for nightlife, with numerous sports bars, clubs and hole in the walls serving the young and vivacious college contingent.
Gyms are also less expensive than most, with the average monthly membership going for around $30. But beyond simply going out to the relatively limited amount of nightlife there is in Riverside, other forms of leisure activities are nearby. Lake Matthews Mountain Reserve, Lake Perris State Recreation Area, and Lake Elsinore are just a short drives away and excellent camping areas (though the drought has taken its toll on some of these bodies of water in recent years). The Big Bear mountain ski resort is also nearby, as is the town of Palm Springs, known as an ideal desert getaway destination. With gas hovering at three dollars a gallon these days, there is a lot to do in and around Riverside without breaking the bank.
Riverside is less expensive than a big city, about 26.46% cheaper than New York City, on average cost of living expenses. However, for other cities of it's size, Riverside is surprisingly above average in cost, due primarily to it's desert location.
