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Cost of Living in Indiana: Most and Least Affordable Cities

WIBC

This article was originally posted on WIBC

What is the average cost of living in Indiana? How much are you paying for household bills?  The average Hoosier household spends about $1,786 each month on bills. This is according to doxo’s Cost of Bills Index™ (COBI).  Annually, Indiana households spend around $21,428 on bills, which is about 16% less than the national average of $25,513.

COBI compares ten common household expenses, including rent, mortgage, utilities, auto loans, insurance, and cable. Monthly mortgage bills are the most significant of the 10 most common cost of living bills for Indiana residents.

10 Most Expensive Indiana Cities for the Cost of Living

RankCityAverage IncomeMonthly Bill Expenses Per HouseholdCost of Bills Index (COBI) – Standard% +/- Than the National AveragePercent of Household Income Used for Bills
1Zionsville$154,324$2,63912424% higher21%
2Carmel$132,182$2,47811717% higher22%
3Westfield$121,250$2,45411515% higher24%
4Fortville$129,131$2,42411414% higher23%
5Munster$101,851$2,37811212% higher28%
6Newburgh$97,764$2,33611111% higher29%
7Avon$100,020$2,2931088% higher28%
8McCordsville$108,020$2,2841077% higher25%
9Saint John$117,632$2,2591066% higher23%
10Brownsburg$106,043$2,2361055% higher25%

On the other hand, Logansport is the most affordable city in Indiana, where monthly bills average $1,207, about 43% below the national average. Knox, Richmond, and Peru are also affordable options.

10 Most Affordable Indiana Cities for Household Bills

RankCityAverage IncomeMonthly Bill Expense Per HouseholdCost of Bills Index (COBI) – Standard% +/- Than the National AveragePercent of Household Income Used for Bills
20Tell City$57,027$1,4606931% lower31%
21Terre Haute$51,431$1,4326733% lower33%
22Vincennes$57,594$1,4296733% lower30%
23Huntington$57,139$1,4276733% lower30%
24Wabash$65,734$1,4156733% lower26%
25Marion$48,749$1,3796535% lower34%
26Peru$55,291$1,3666436% lower30%
27Richmond$50,880$1,3386337% lower32%
28Knox$58,100$1,2345842% lower25%
29Logansport$54,617$1,2075743% lower27%

Overall, Indiana residents spend about 31% of their income on bills.