California U.S. - statistics & facts
California is the most populous state in the United States, with a resident population of almost 40 million people. California’s high population can be attributed partly to its long-standing status as a destination for migrants. With more than a quarter of the population born outside the U.S., California is known for its ethnic and cultural diversity, with the number of Hispanic and Latino residents surpassing the number of white residents by more than two million people. By 2040, the population of California is expected to increase by an additional 10 million residents, reflecting the state’s appeal. The population is generally young, with nearly one-third being between the ages of 25 and 44 years old.
Home to Hollywood, California is known internationally for its paramount influence on popular culture, as well as historically acclaimed contributions to the world of entertainment, such as the film and music industries. Additionally, as the state with the most higher education institutions, education outlooks across California are world-renowned, with 22.5 percent of California residents over 25 holding a Bachelor’s degree. As of 2023, four California universities had some of the highest rates of graduates who founded start-ups that raised at least one million U.S. dollars, with 472 from Stanford University alone.
The finance, insurance, real estate, rental and leasing industry has continued to add the most value to the state’s GDP, contributing almost 580 billion U.S. dollars in 2022. California’s booming economy has been catalyzed by its strengthening high technology and innovation business sector, with many based out of the state’s notable Silicon Valley region. San Jose is the largest city home to prominent Silicon Valley conglomerates, driving the city’s GDP to 385 billion U.S. dollars in 2021. That year, Apple was the largest publicly traded company in California based on revenue, with a revenue of 366 billion U.S. dollars. Alphabet, Chevron, Wells Fargo and Meta rounded out the top five publicly traded companies in California. New York and California had the highest number of Fortune 500 companies, with 53 in each state.
In addition to the risk drought poses on California’s agricultural industry, it also increases the state’s chances of wildfires. California’s wildfire suppression expenditure is steep, reaching 1.2 billion U.S. dollars in the 2022 fiscal year. From January to August 2022, there were a total of 54 wildfires in California, with the majority started in June. The Mosquito Fire was the largest fire that year, burning more than 76,000 acres. However, this covered significantly less ground than other fires in years prior. Although not the most fatal, the largest wildfire in the state’s recent history in terms of acreage was in August 2020, burning more than one million acres across California. As temperatures continue to rise across the state, the likelihood of drought and wildfires increase, resulting in growing concern surrounding the state’s water supply. As of 2022, California aims to reuse at least 0.8 million acre-feet (MAF) of water per year by 2030, and 1.8 MAF by 2040.
Home to Hollywood, California is known internationally for its paramount influence on popular culture, as well as historically acclaimed contributions to the world of entertainment, such as the film and music industries. Additionally, as the state with the most higher education institutions, education outlooks across California are world-renowned, with 22.5 percent of California residents over 25 holding a Bachelor’s degree. As of 2023, four California universities had some of the highest rates of graduates who founded start-ups that raised at least one million U.S. dollars, with 472 from Stanford University alone.
Housing and cost of living
Although the median household income in California has more than doubled from 1990 levels, the cost of living has continued to surge across the state. While California is the country’s most populous state, its population saw a decline throughout the COVID-19 pandemic as many took advantage of remote working opportunities and moved to states with lower costs of living. In 2023, California housing prices were highest second only to Hawaii, with single-family homes between the 35th and 65th percentile range valued at around 728,000 U.S. dollars, almost double the national average. Just four years prior, this figure stood at 534,000 U.S. dollars. Similarly, the average monthly rent in the state exceeded 2,000 U.S. dollars per month in 2022, up from over 16 percent from the previous year. Despite the minimum wage in California sitting relatively high at 15.5 U.S. dollars per hour, there is not one city in the state in which a minimum wage job could support renting a two-bedroom apartment. In San Francisco, the hourly wage required to rent a two-bedroom apartment stood at 60.35 U.S. dollars.Industry and economy
If California was an independent country, it would rank as the sixth largest economy worldwide. The California economy contributes a significant amount to the gross domestic product (GDP) of the United States, making it the leading domestic economy in the country, as well as one of the top international importers and exporters. Its per-capita GDP is also high, which indicates a high standard of living for its residents. However, the state’s poverty and unemployment rates remained high in 2022, situated above the national average. In the fiscal year of 2024, the California state expenditure budget came to 223.61 billion U.S. dollars. The projected revenue for the same year was 210.17 billion U.S. dollars. As of 2021, California had the most outstanding debt of all U.S. states by a margin of over 150 billion U.S. dollars.The finance, insurance, real estate, rental and leasing industry has continued to add the most value to the state’s GDP, contributing almost 580 billion U.S. dollars in 2022. California’s booming economy has been catalyzed by its strengthening high technology and innovation business sector, with many based out of the state’s notable Silicon Valley region. San Jose is the largest city home to prominent Silicon Valley conglomerates, driving the city’s GDP to 385 billion U.S. dollars in 2021. That year, Apple was the largest publicly traded company in California based on revenue, with a revenue of 366 billion U.S. dollars. Alphabet, Chevron, Wells Fargo and Meta rounded out the top five publicly traded companies in California. New York and California had the highest number of Fortune 500 companies, with 53 in each state.
Geography and climate
With approximately 1,350 kilometers of Pacific coastline, as well as densely forested, mountainous, and desert regions throughout the state, California has become a popular tourist destination for its natural attractions. However, the same features that make up California’s rich environmental diversity can leave the state vulnerable to anthropogenic climate-change and subsequent natural disasters. Regularly among the U.S. states with the lowest average rainfall, California often faces periods of immense drought, with approximately half of its total area affected by unprecedented drought between August and October 2021.In addition to the risk drought poses on California’s agricultural industry, it also increases the state’s chances of wildfires. California’s wildfire suppression expenditure is steep, reaching 1.2 billion U.S. dollars in the 2022 fiscal year. From January to August 2022, there were a total of 54 wildfires in California, with the majority started in June. The Mosquito Fire was the largest fire that year, burning more than 76,000 acres. However, this covered significantly less ground than other fires in years prior. Although not the most fatal, the largest wildfire in the state’s recent history in terms of acreage was in August 2020, burning more than one million acres across California. As temperatures continue to rise across the state, the likelihood of drought and wildfires increase, resulting in growing concern surrounding the state’s water supply. As of 2022, California aims to reuse at least 0.8 million acre-feet (MAF) of water per year by 2030, and 1.8 MAF by 2040.
