Comparison Highlights
| Cost of Living Indexes | Indianapolis, IN | Difference |
|---|---|---|
| Overall Index: Homeowner, No Child care, Taxes Not Considered | 84.9 | 5.1% less |
| Food & Groceries | 93.6 | 2.4% less |
| Housing (Homeowner) | 61.9 | 5.7% less |
| Median Home Cost | $183,000 | $10,400 (5.7% less) |
Contents
What is the cost of living increase for 2021 in Indiana?
Indiana Economy at a Glance:
| Data Series | May 2021 | June 2021 |
|---|---|---|
| 12-month % change | 3.9 | 2.0 |
| Construction(3) | 146.4 | 144.9 |
| 12-month % change | 6.9 | 3.5 |
| Manufacturing(3) | 523.4 | 530.1 |
Whats the average cost of living in Indiana?
Our cost of living indices are based on a US average of 100. An amount below 100 means Indiana is cheaper than the US average.
Indiana cost of living is 82.1.
| COST OF LIVING | Indiana | United States |
|---|---|---|
| Grocery | 92.9 | 100 |
| Health | 82.2 | 100 |
| Housing | 61.7 | 100 |
| Median Home Cost | $186,100 | $291,700 |
How much does it cost to live comfortably in Indiana?
Typical Expenses
| 1 ADULT | 2 ADULTS (1 WORKING) | |
|---|---|---|
| 0 Children | 1 Child | |
| Required annual income after taxes | $23,105 | $45,650 |
| Annual taxes | $4,850 | $9,583 |
| Required annual income before taxes | $27,955 | $55,232 |
What is the average monthly cost of living in Indiana?
U.S. Cost of living comparison by state
| State | Annual Mean Wage (All Occupations) | Median Monthly Rent |
|---|---|---|
| Hawaii | $58,190 | $2,481 |
| Idaho | $46,800 | $1,238 |
| Illinois | $58,070 | $1,463 |
| Indiana | $48,650 | $1,113 |
Where does Indiana rank in cost of living?
The city with the lowest cost of living index for 2021 was Joplin, with an index of 83.9. The city with the highest cost of living was St.
2021 Third Quarter 2021 Cost of Living.
| Rank | 1 | 11 |
|---|---|---|
| State | Mississippi | Indiana |
| Index | 85.1 | 91.1 |
| Grocery | 95.3 | 93.9 |
| Housing | 66.4 | 77.8 |
What state has lowest cost of living?
States with the Lowest Cost of Living
- Mississippi. Mississippi has the lowest cost out of living of all 50 states.
- Oklahoma. Oklahoma has the second-lowest cost of living in the United States.
- Arkansas. The state with the third-lowest cost of living in Arkansas.
- Kansas.
- Missouri.
- Georgia.
- Alabama.
- New Mexico.
Is Indiana affordable?
A recent report by GOBankingRates has Indiana ranked as one of the top three most affordable states to live.Indiana came in as the third most affordable, following Oklahoma and Michigan.
What is the best area to live in Indiana?
Here’s a glance at our top five best Indiana cities to live in.
- Bloomington. Topping our ranking is Bloomington, a city of around 85,000 and the county seat of Monroe County.
- Carmel. The #2 slot goes to Carmel, a fast-growing city of over 92,000 in Hamilton County.
- Fishers.
- Zionsville.
How much are utilities in Indiana?
The website that aims to help movers estimates Indiana residents pay an average of $411.36 a month for utilities: $108.09 for electricity, $103.17 for natural gas, $60.16 for internet, $100 for cable television, and $40 for water.
Is $17 an hour good?
When we ran all of our numbers to figure out how much is $17 per hour is as an annual salary, we used the average working day of 40 hours a week.
$17 Per Hour is…
| $17 per Hour – Full Time | Total Income |
|---|---|
| Weekly (40 Hours) | $680 |
| Bi-Weekly (80 Hours) | $1,360 |
| Daily Wage (8 Hours) | $136 |
| Net Estimated Monthly Income | $2,250 |
Is living in Indiana expensive?
With an overall cost of living index of 90.4, Indiana comes in at number ten for most affordable cost of living in the U.S, but that definitely doesn’t mean it’s expensive!The median price for a house in the Hoosier State is $142,600, while $662 is the average monthly rent for a one-bedroom apartment.
What salary is needed to live comfortably?
The median necessary living wage across the entire US is $67,690. The state with the lowest annual living wage is Mississippi, with $58,321. The state with the highest living wage is Hawaii, with $136,437.
Is Indiana a cheap state to live in?
Indiana
Rounding out the top ten cheapest U.S. states is Indiana. Indiana’s living index cost is 90.4, meaning that the overall cost of living is 9.6% less than the national average. Indiana’s housing index is low at 76.5. A two-bedroom apartment is around $750 a month, and the average home value is about $169,156.
How much do all utilities cost a month for a house?
How much are average utilities for a house? Across the US, homeowners should set aside around $400 a month for their home’s utilities.
Is Indiana a good place to live?
Anyone looking to relocate to the Hoosier State will also be happy to know home prices in Indiana are among the most affordable in the country. As well, the state boasts a strong economy that is about the size of Norway, according to the American Enterprise Institute.1 best place to live in America in 2017.
Is Indiana a poor state?
Similar to its individual high poverty ranking, Indiana continues to be ranked the fifth-highest state in the region by the number of tracts with high child poverty between 1980 and 2016. However, it ranks third in the percentage of tracts with high child poverty.
What should I know before moving to Indiana?
9 Things to Know Before Moving to Indiana
- Indiana Has Wild Weather. Hail, snow, humidity, and tornadoes are no strangers to Indiana.
- Agriculture is a Big Deal.
- Housing is Affordable.
- The Land of Covered Bridges.
- It’s Not All Flat.
- There’s Plenty To Do.
- Moving is Stressful.
- Business is Booming.
What is the most expensive state to live in 2021?
Hawaii
Hawaii is the most expensive state to live in in the United States. Hawaii has a cost index of 196.3. The average home price in Hawaii is $1,158,492. The utility index is the highest in the country at 189.5, and the average monthly energy bill is $388.65.
Where can you live for 500 a month?
5 Places to Retire for Under $500 per Month
- Leon, Nicaragua.
- Medellin, Colombia.
- Las Tablas, Panama.
- Chiang Mai, Thailand.
- Languedoc-Roussillon, France.
- Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group.
What is the cheapest state for seniors to live in?
Arkansas
Arkansas is one of the most affordable places to live because it has the third-least expensive healthcare and transportation costs, which can help make your retirement savings last longer.
