Greenwood, IN Cost Of Living
Cost Of Living In Greenwood, IN Summary
Cost of living in Greenwood research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Greenwood is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Indiana, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Greenwood is 92, with 100 being the average.
The cost of living index in Greenwood is 0.9x lower than the national average.
Greenwood ranks as the #83 cheapest in Indiana out of 124.
Greenwood ranks as the #1,974 cheapest out of 6,412 in the US.
The median home value in Greenwood is $181,700.
The median income in Greenwood is $71,159.
Table Of Contents
Greenwood's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Greenwood, IN?
According to the most recent data on the cost of living, Greenwood has an overall cost of living index of 92, which is 0.9x lower than the national index of 100.
Compared to Indiana, Greenwood has a cost of living index that's 1.0x higher than Indiana's index of 91.
The standard of living in Greenwood ranks as #83 most affordable out of the 124 places we measured in Indiana. By definition, that implies Greenwood ranks as the #41 most expensive place in the Hoosier State.
For more reading on life in Greenwood, check out:
- Living In Greenwood
- Greenwood Crime Report
- Search Homes For Sale In Greenwood, IN
In Indiana
In America
Greenwood Cost Of Living Vs. Indiana
Six factors go into calculating the cost of living index in Greenwood. Here is how it fairs on each of the criteria:
The Services index in Greenwood is 97.
The Groceries index in Greenwood is 93.
The Health index in Greenwood is 86.
The Housing index in Greenwood is 81.
The Transportation index in Greenwood is 94.
The Utilities index in Greenwood is 104.
| Living Expense | Greenwood | Indiana | National Average | |
|---|---|---|---|---|
| Overall | 92 | 91 | 100 | |
| Services | 97 | 94 | 100 | |
| Groceries | 93 | 96 | 100 | |
| Health | 86 | 101 | 100 | |
| Housing | 81 | 77 | 100 | |
| Transportation | 94 | 95 | 100 | |
| Utilities | 104 | 106 | 100 | |
Greenwood, IN Housing Cost Breakdown
Housing swings affordability the most between places in Indiana, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Greenwood is $181,700.
The Median Rent in Greenwood is $1,103.
The Median Income in Greenwood is $71,159.
The Home Value To Income in Greenwood is 2.6x.
The Rent To Monthly Income in Greenwood is 0.19x.
| Statistic | Greenwood | Indiana | United States |
|---|---|---|---|
| Median Home Value | $181,700 | $158,500 | $244,900 |
| Median Rent | $1,103 | $891 | $1,163 |
| Median Income | $71,159 | $61,944 | $69,021 |
| Home Value To Income | 2.6x | 2.6x | 3.5x |
| Rent To Monthly Income | 0.19x | 0.17x | 0.2x |
Median Home Value
Median Rent
Median Income
Greenwood, IN Costs By Category
Detailed Greenwood Services Costs Vs. Indiana
Detailed Greenwood Groceries Costs Vs. Indiana
Detailed Greenwood Health Costs Vs. Indiana
Detailed Greenwood Transportation Costs Vs. Indiana
Detailed Greenwood Utilities Costs Vs. Indiana
Greenwood SnackAbility
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Cost Of Living In Cities Around Greenwood
The cost of living varies in the cities and towns around Greenwood. Here's a quick look at the cost of living in the most populous nearby places:
Indianapolis, IN has a cost of living index of 88, 1.0x Greenwood.
Lawrence, IN has a cost of living index of 87, 0.9x Greenwood.
Franklin, IN has a cost of living index of 90, 1.0x Greenwood.
| City | Population | Cost Of Living | Vs. Greenwood |
|---|---|---|---|
| Indianapolis, IN | 880,104 | 88 | 1.0x |
| Lawrence, IN | 49,048 | 87 | 0.9x |
| Franklin, IN | 25,112 | 90 | 1.0x |
| Avon, IN | 20,848 | 99 | 1.1x |
| Beech Grove, IN | 15,202 | 86 | 0.9x |
| Mooresville, IN | 9,429 | 89 | 1.0x |
| Bargersville, IN | 9,024 | 93 | 1.0x |
| Cumberland, IN | 5,860 | 93 | 1.0x |
| New Whiteland, IN | 5,565 | 91 | 1.0x |
