Paramount, CA

Very High · 137

California · Population 52,546 · Updated March 2026

$1,772
Median Rent / Month
$70,912
Median Income
$500,400
Median Home Value
$1,760
Owner Costs / Month

Affordability

How far your income goes in Paramount

30.0%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

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

$21,264
Annual Rent
$9,431
State Income Tax
$3,553
Property Tax (est.)

Cost of Living Overview

Paramount has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 137 (where 100 equals the national median), Paramount residents can expect to pay median rent of $1,772/month while earning a median household income of $70,912/year.

The median home value in Paramount, CA is $500,400, with typical monthly owner costs around $1,760 including mortgage, insurance, and taxes. At 30.0% rent-to-income ratio, residents of Paramount are spending more than the recommended 30% of income on housing, indicating moderate cost burden.

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 Paramount.

Frequently Asked Questions

Common questions about living costs in Paramount

What is the cost of living in Paramount, CA?
The cost of living index in Paramount, CA is 137 (US average = 100). Median monthly rent is $1,772, median household income is $70,912/year, and the median home value is $500,400.
Is Paramount, CA affordable?
No, Paramount is more expensive than the national average with a cost index of 137. The rent-to-income ratio is 30.0%—above the 30%% affordability threshold.
What is the average rent in Paramount, CA?
The median gross rent in Paramount, CA is $1,772 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $21,264.
What is the median household income in Paramount?
The median household income in Paramount, CA is $70,912 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%.