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 |
Contents
How much is 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 the average person to live per month?
Average monthly expenses for one person totaled $3,189, or $38,266 annually.
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 cost of living?
California cost of living is 149.9
| COST OF LIVING | California | United States |
|---|---|---|
| Overall | 149.9 | 100 |
| Grocery | 105.1 | 100 |
| Health | 92.4 | 100 |
| Housing | 239.1 | 100 |
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 a good salary to live in Indiana?
The study says you need to earn $46,016 a year to have enough money for needs and wants. However, the median income for the city is $42,076, a shortfall of $3,940.
How can I live on $1000 a month?
How to live on $1,000 a month: Decrease your expenses and increase your income
- Look for areas to decrease your spending as much as possible.
- Focus on smaller areas if you can’t make major life changes.
- Find side hustles that you can commit to for 5-10 hours per week.
What is a good monthly budget?
If you want to plan for everyone in your household, create a family budget.) A good monthly budget should follow the 50/30/20 rule. According to this method, your monthly take-home income is divided into three categories: 50% for needs, 30% for wants and 20% for savings and debt repayment.
How much is low income for a single person?
By government standards, “low-income” earners are men and women whose household income is less than double the Federal Poverty Level (FPL). For a single person household, the 2019 FPL was $12,490 a year. That means that a single person making less than $25,000 a year would be considered low income.
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 state has the cheapest 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.
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.
What is cost of living and standard of living?
The main difference between the cost of living and standard of living is, the cost of living denotes the cost required to pay to live a life with comfortable basic requirements whereas the standard of living means the lifestyle that a place can provide.
What is the average cost of living for a single person?
The Average Monthly Expenses of an American Is: $5,102
One consumer unit spends an average of $5,102 every month in 2018. That implies that the average budget for an American is $61,224 and is a 1.9% increase from the previous year.
What is the cost of living in 2021?
Comparison Highlights
| Cost of Living Indexes | Los Angeles, CA | Difference |
|---|---|---|
| Overall Index: Homeowner, No Child care, Taxes Not Considered | 176.2 | 12.6% less |
| Food & Groceries | 104.1 | 6.5% more |
| Housing (Homeowner) | 298.2 | 2.4% less |
| Median Home Cost | $883,400 | $112,900 (12.8% less) |
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.
Is Indiana safe to live?
When compared to other states around the country, Indiana tends to fall in the middle as a safe place to live. However, when you compare Indiana’s crime rates to neighboring states, the Hoosier State is a much safer place to call home. There are small towns in Indiana that are charming and downright delightful.
Which is the cheapest state in USA?
Mississippi
1. Mississippi. The cheapest state to live in in the United States is Mississippi. Overall, Mississippi’s average cost of living is about 15% lower than the national average cost of living.
Is $17 an hour a livable wage?
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 |
What is a good hourly wage in Indiana?
Hourly Salary in Indiana
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $49,851 | $24 |
| 75th Percentile | $37,388 | $18 |
| Average | $34,844 | $17 |
| 25th Percentile | $24,002 | $12 |
