Boonville 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.
IndexBoonvilleIndianaNational
Cost of living index8287100
IndexBoonvilleIndianaNational
Goods & Services index9694100
Groceries index8994100
Health care index9495100
Housing index5773100
Transportation index8992100
Utilities index9190100
An overview of the general cost of living index for Boonville, IN is displayed above for your reference. Residents in Boonville, IN enjoy a cost of living index of 82. This index is 6% lower than the Indiana average, and 18% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Boonville, IN, the average cost of goods and services is 2% higher than it is in Indiana, and it is 4% lower than the national average.

Did you know?

  • The cost of living in Boonville is 6% lower than the Indiana average.
  • The cost of living in Boonville is 18% lower than the national average.
  • The cost of housing in Boonville is 43% 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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Compare Boonville, IN Cost of living To Other Cities

Salary Calculator

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Groceries index
Health care index
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Use the salary calculator to compare your current salary in Boonville, IN to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Boonville, IN, then you would need to earn more income in order to maintain the same standard of living. To use the Boonville, IN salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$54,574$4,548$1,273$1,637
Renters$17,005$1,417$397$510
If you want to find a good determining factor for the cost of living and the general affordability of housing in Boonville, IN, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Boonville, IN, the median monthly income is $54,574 for those who own their own homes. Under the standard rule, that income level would allow for $1,273 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $17,005, per the median income in the area. That would allow for renters to spend up to $397 on monthly rental expenses.

Indiana Sales Tax

StateGeneral Sales TaxWith Max Surtax
Indiana7%7%

Indiana Income Tax

StateIncome Tax (Low)Income Tax (High)
Indiana3.3%3.3%
One thing to keep in mind when considering the cost of living in Boonville, IN is the Indiana sales tax and Indiana income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Indiana sales tax rate is 7% and the maximum surtax that can be charged is 7%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Indiana income tax rates range from 3.3% to 3.3%.

Goods & Services

ItemBoonvilleNational avg.Difference
Haircut $16.85$15.568.2%
Beauty Salon $32.83$36.119.1%
Toothpaste $1.64$2.4733.8%
Shampoo $0.90$0.967.1%
Movie $9.13$10.139.8%
Bowling $3.43$4.7427.6%

Groceries

ItemBoonvilleNational avg.Difference
Ground Beef $3.87$3.982.8%
Fried Chicken $1.11$1.4121.4%
Milk $1.52$2.0626.5%
Potatoes $2.61$2.9812.6%
Pizza $9.99$9.475.5%
Beer $7.84$8.7910.8%

Health Care

ItemBoonvilleNational avg.Difference
Optometrist $117.91$101.0416.7%
Doctor $90.53$107.4415.7%
Dentist $81.87$90.429.5%
Ibuprofen $8.25$9.2811.1%
Lipitor $445.26$426.504.4%

Housing

ItemBoonvilleNational avg.Difference
Home Price $88,200.00$175,700.0049.8%
Avg. Mortgage Payment $915.34$1,133.2319.2%
Apartment Rent $656.00$920.0028.7%

Transportation

ItemBoonvilleNational avg.Difference
Gasoline $1.86$1.996.6%
Tire Balancing $36.00$45.7621.3%

Utilities

ItemBoonvilleNational avg.Difference
All Electricity$168.12$163.812.6%
Phone $21.67$28.3923.7%
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.
Chrisney, IN46977-23%
Holland, IN71278-22%
Hatfield, IN75678-22%
Spurgeon, IN16379-21%
Tennyson, IN32379-21%
Boonville, IN6,22082-18%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Pembroke Park, FL6,22089-11%
Skowhegan, ME6,21995-5%
Osprey, FL6,22312626%
Shrewsbury, MO6,21797-3%
Castroville, CA6,22612828%
Boonville, IN6,22082-18%
Source: The Boonville, IN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.