Bennington 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.
IndexBenningtonVermontNational
Cost of living index99113100
IndexBenningtonVermontNational
Goods & Services index94106100
Groceries index119109100
Health care index98107100
Housing index90115100
Transportation index118128100
Utilities index96123100
The above illustration supplies generalized information for the Bennington, VT cost of living index. Compared to other cities in Vermont and cities across the country, the cost of living index in Bennington, VT is 99, which is 12% lower than the Vermont average and 1% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Bennington, VT are 11% lower than the average for Vermont and 6% lower than the rest of the country.

Did you know?

  • The cost of living in Bennington is 12% lower than the Vermont average.
  • The cost of living in Bennington is 1% lower than the national average.
  • The cost of housing in Bennington is 10% lower than the national average.
  • Vermont general sales tax is 18% higher than the national average.
  • Vermont state income tax is 60% higher than the national average.

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Compare Bennington, VT Cost of living To Other Cities

Salary Calculator

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Cost of living index
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Groceries index
Health care index
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The salary calculator is used in order to provide a comparison of your current salary in Bennington, VT to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Bennington, VT, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Bennington, VT salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$55,077$4,590$1,285$1,652
Renters$26,074$2,173$608$782
The affordability of the housing market in Bennington, VT as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Bennington, VT homeowners, the median income is $55,077. This indicates that a monthly maximum of $1,285 should be spent by homeowners on all housing related costs. Renters have a median income of $26,074. This indicates that renters should have a maximum of $608 used for their rent related monthly costs.

Vermont Sales Tax

StateGeneral Sales TaxWith Max Surtax
Vermont6%7%

Vermont Income Tax

StateIncome Tax (Low)Income Tax (High)
Vermont3.55%8.95%
When considering the overall cost of living expenses in Bennington, VT, it's important to take into account the sales tax for Vermont, as well as the rate for income tax in Vermont. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Vermont is 7%, and the sales tax in the state of Vermont is 6%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Vermont starts from 3.55% and goes up to 8.95%.

Goods & Services

ItemBenningtonNational avg.Difference
Haircut $13.60$14.596.8%
Beauty Salon $14.60$34.6857.9%
Toothpaste $1.99$2.4719.5%
Shampoo $0.99$1.023.1%
Movie $10.00$9.871.3%
Bowling $6.00$4.3936.6%

Groceries

ItemBenningtonNational avg.Difference
Ground Beef $4.07$4.489.1%
Fried Chicken $2.87$1.4696.0%
Milk $2.33$2.361.1%
Potatoes $3.99$3.0630.3%
Pizza $7.99$9.2413.6%
Beer $6.99$8.6319.0%

Health Care

ItemBenningtonNational avg.Difference
Optometrist $142.50$99.7842.8%
Doctor $99.20$105.035.6%
Dentist $95.00$88.707.1%
Ibuprofen $9.49$9.410.8%
Lipitor $231.30$298.5022.5%

Housing

ItemBenningtonNational avg.Difference
Home Price $157,900.00$175,700.0010.1%
Avg. Mortgage Payment $1,515.12$1,081.0340.2%
Apartment Rent $834.00$920.009.3%

Transportation

ItemBenningtonNational avg.Difference
Gasoline $2.33$2.0911.2%
Tire Balancing $61.98$45.2936.9%

Utilities

ItemBenningtonNational avg.Difference
All Electricity$160.96$170.805.8%
Phone $27.50$28.262.7%
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.
Readsboro, VT26890-10%
Hoosick Falls, NY3,45999-1%
Cambridge, NY1,6021011%
North Adams, MA13,56397-3%
South Shaftsbury, VT6121055%
Bennington, VT8,93399-1%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Gunbarrel, CO8,93312828%
Monett, MO8,93585-15%
Hondo, TX8,92984-16%
Bennettsville, SC8,92885-15%
Quakertown, PA8,93911212%
Bennington, VT8,93399-1%
Source: The Bennington, VT cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.