Kokomo, IN Cost Of Living
Cost Of Living In Kokomo, IN Summary
Cost of living in Kokomo 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 Kokomo 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 Kokomo is 77, with 100 being the average.
The cost of living index in Kokomo is 0.8x lower than the national average.
Kokomo ranks as the #10 cheapest in Indiana out of 124.
Kokomo ranks as the #78 cheapest out of 6,412 in the US.
The median home value in Kokomo is $96,400.
The median income in Kokomo is $51,450.
Table Of Contents
Kokomo's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Kokomo, IN?
According to the most recent data on the cost of living, Kokomo has an overall cost of living index of 77, which is 0.8x lower than the national index of 100.
Compared to Indiana, Kokomo has a cost of living index that's 0.8x lower than Indiana's index of 91.
The standard of living in Kokomo ranks as #10 most affordable out of the 124 places we measured in Indiana. By definition, that implies Kokomo ranks as the #114 most expensive place in the Hoosier State.
For more reading on life in Kokomo, check out:
- Living In Kokomo
- Kokomo Crime Report
- Search Homes For Sale In Kokomo, IN
In Indiana
In America
Kokomo Cost Of Living Vs. Indiana
Six factors go into calculating the cost of living index in Kokomo. Here is how it fairs on each of the criteria:
The Services index in Kokomo is 87.
The Groceries index in Kokomo is 88.
The Health index in Kokomo is 99.
The Housing index in Kokomo is 53.
The Transportation index in Kokomo is 95.
The Utilities index in Kokomo is 97.
| Living Expense | Kokomo | Indiana | National Average | |
|---|---|---|---|---|
| Overall | 77 | 91 | 100 | |
| Services | 87 | 94 | 100 | |
| Groceries | 88 | 96 | 100 | |
| Health | 99 | 101 | 100 | |
| Housing | 53 | 77 | 100 | |
| Transportation | 95 | 95 | 100 | |
| Utilities | 97 | 106 | 100 | |
Kokomo, 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 Kokomo is $96,400.
The Median Rent in Kokomo is $788.
The Median Income in Kokomo is $51,450.
The Home Value To Income in Kokomo is 1.9x.
The Rent To Monthly Income in Kokomo is 0.18x.
| Statistic | Kokomo | Indiana | United States |
|---|---|---|---|
| Median Home Value | $96,400 | $158,500 | $244,900 |
| Median Rent | $788 | $891 | $1,163 |
| Median Income | $51,450 | $61,944 | $69,021 |
| Home Value To Income | 1.9x | 2.6x | 3.5x |
| Rent To Monthly Income | 0.18x | 0.17x | 0.2x |
Median Home Value
Median Rent
Median Income
Kokomo, IN Costs By Category
Detailed Kokomo Services Costs Vs. Indiana
Detailed Kokomo Groceries Costs Vs. Indiana
Detailed Kokomo Health Costs Vs. Indiana
Detailed Kokomo Transportation Costs Vs. Indiana
Detailed Kokomo Utilities Costs Vs. Indiana
Kokomo SnackAbility
/10
Cost Of Living In Cities Around Kokomo
The cost of living varies in the cities and towns around Kokomo. Here's a quick look at the cost of living in the most populous nearby places:
Carmel, IN has a cost of living index of 114, 1.5x Kokomo.
Noblesville, IN has a cost of living index of 98, 1.3x Kokomo.
Lawrence, IN has a cost of living index of 87, 1.1x Kokomo.
| City | Population | Cost Of Living | Vs. Kokomo |
|---|---|---|---|
| Carmel, IN | 98,137 | 114 | 1.5x |
| Noblesville, IN | 68,885 | 98 | 1.3x |
| Lawrence, IN | 49,048 | 87 | 1.1x |
| Westfield, IN | 45,695 | 103 | 1.3x |
| West Lafayette, IN | 44,515 | 99 | 1.3x |
| Zionsville, IN | 30,258 | 118 | 1.5x |
| Brownsburg, IN | 28,420 | 95 | 1.2x |
| Middletown, KY | 9,473 | 103 | 1.3x |
| Cumberland, IN | 5,860 | 93 | 1.2x |
