Hanford, CA

Average · 94

California · Population 59,389 · Updated March 2026

$1,196
Median Rent / Month
$73,544
Median Income
$323,600
Median Home Value
$1,400
Owner Costs / Month

Affordability

How far your income goes in Hanford

19.5%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in California

State-level tax rates that affect your costs

13.3%
Income Tax (Top Rate)
7.25%
Sales Tax
0.71%
Property Tax Rate

Estimated Annual Costs

$14,352
Annual Rent
$9,781
State Income Tax
$2,298
Property Tax (est.)

Cost of Living Overview

Hanford offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 94 (where 100 equals the national median), Hanford residents can expect to pay median rent of $1,196/month while earning a median household income of $73,544/year.

The median home value in Hanford, CA is $323,600, with typical monthly owner costs around $1,400 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.5% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

California's top income tax rate of 13.3% is among the highest in the nation, adding to the overall cost burden. Combined with a 7.25% sales tax rate and 0.71% effective property tax rate, the overall tax environment is a factor in the total cost of living in Hanford.

Frequently Asked Questions

Common questions about living costs in Hanford

What is the cost of living in Hanford, CA?
The cost of living index in Hanford, CA is 94 (US average = 100). Median monthly rent is $1,196, median household income is $73,544/year, and the median home value is $323,600.
Is Hanford, CA affordable?
Yes, Hanford is more affordable than the national average with a cost index of 94. The rent-to-income ratio is 19.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Hanford, CA?
The median gross rent in Hanford, CA is $1,196 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $14,352.
What is the median household income in Hanford?
The median household income in Hanford, CA is $73,544 per year. This compares to the national median of approximately $80,000.
What are the taxes like in California?
California has a top income tax rate of 13.3%, a sales tax of 7.25%, and an effective property tax rate of 0.71%.