Anderson cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexAndersonIndianaNational
Cost of living index8288100
IndexAndersonIndianaNational
Goods & Services index9795100
Groceries index9592100
Health care index9895100
Housing index5273100
Transportation index9193100
Utilities index9493100
A general summary of the cost of living index in Anderson, IN is shown above. Compared to the state average of Indiana the cost of living index in Anderson, IN is 82, which is 6% lower than the average in Indiana and compared to the national average it is 18% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Anderson, IN goods and services come in at 2% higher than the average in Indiana and are 3% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Anderson is 6% lower than the Indiana average.
  • The cost of living in Anderson is 18% lower than the national average.
  • The cost of housing in Anderson is 48% lower than the national average.
  • Indiana general sales tax is 37% higher than the national average.
  • Indiana state income tax is 48% higher than the national average.

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Salary Calculator

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Use the salary calculator to compare your current income in Anderson, IN to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Anderson, IN, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Anderson, IN salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$43,876$3,656$1,024$1,316
Renters$20,387$1,699$476$612
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Anderson, IN as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Anderson, IN homeowners, is $43,876. This would allow for a maximum of $1,024 per month to be spent on housing costs. For renters, the median monthly income is $20,387 which would result in a maximum of $476 to be spent on rental costs.

Indiana Sales Tax

StateGeneral Sales TaxWith Max Surtax
Indiana7%7%

Indiana Income Tax

StateIncome Tax (Low)Income Tax (High)
Indiana3.3%3.3%
The Indiana sales tax and Indiana income tax rates should definitely be considered when determining the overall cost of living in Anderson, IN. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Indiana sales tax is 7% and the maximum surtax is 7%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Indiana income tax rates range from 3.3% to 3.3%.

Goods & Services

ItemAndersonNational avg.Difference
Haircut $12.00$14.5917.8%
Beauty Salon $26.00$34.6825.0%
Toothpaste $1.91$2.4722.8%
Shampoo $0.91$1.0211.0%
Movie $8.50$9.8713.9%
Bowling $3.50$4.3920.3%

Groceries

ItemAndersonNational avg.Difference
Ground Beef $4.64$4.483.6%
Fried Chicken $1.14$1.4622.1%
Milk $2.20$2.366.6%
Potatoes $2.76$3.069.8%
Pizza $13.99$9.2451.4%
Beer $7.86$8.639.0%

Health Care

ItemAndersonNational avg.Difference
Optometrist $105.00$99.785.2%
Doctor $93.55$105.0310.9%
Dentist $88.00$88.700.8%
Ibuprofen $8.38$9.4111.0%
Lipitor $317.03$298.506.2%

Housing

ItemAndersonNational avg.Difference
Home Price $73,000.00$175,700.0058.5%
Avg. Mortgage Payment $823.57$1,081.0323.8%
Apartment Rent $691.00$920.0024.9%

Transportation

ItemAndersonNational avg.Difference
Gasoline $1.98$2.095.4%
Tire Balancing $36.64$45.2919.1%

Utilities

ItemAndersonNational avg.Difference
All Electricity$160.91$170.805.8%
Phone $26.65$28.265.7%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Chesterfield, IN2,52881-19%
Cadiz, IN16274-26%
Alexandria, IN5,10081-19%
Elwood, IN8,56981-19%
Kennard, IN51682-18%
Anderson, IN55,78982-18%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
New Brunswick, NJ55,80411919%
Decatur, AL55,64188-12%
Midwest City, OK55,96483-17%
Chicopee, MA55,60311414%
Coconut Creek, FL55,5901011%
Anderson, IN55,78982-18%
Source: The Anderson, IN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.