F
25%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
74%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Corvallis Oregon National
Cost of living125111100
Goods & Services104105100
Groceries107109100
Health care101105100
Housing174123100
Transportation107117100
Utilities9696100

An Overview of Cost of Living in Corvallis, OR

Knowing the cost of living in Corvallis allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Corvallis stands at 125, marking it 25% higher than the national average.

If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Corvallis is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Corvallis falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs significantly influence the Corvallis cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 73.9%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

What Do Locals Say About the Cost of Living in Corvallis?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 10 locals to understand their opinions on the cost of living in Corvallis. The results indicated that 40% found it reasonably priced with decreasing prices of goods and services, while 60% viewed it as quite expensive, with increasing prices.

Is Corvallis Affordable?

Is Corvallis an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Corvallis, the median home price is 95.9% higher than what most folks pay across the country, and monthly rent prices are 22.7% higher than the usual rates. Income levels in Corvallis come in at $55,390, which is 0.1% higher than the national average.

What Factors can Influence the Cost of Living in Corvallis?

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Corvallis starts at 0% and the income tax rates start at 4.75%.

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Corvallis, the utilities index registers at 4.4% lower than the national average.

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Corvallis, the transportation index is 6.8% higher than the national average.

Where is the Data From?

The cost of living in Corvallis, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Corvallis is 12% higher than the Oregon average
  • The cost of living in Corvallis is 25% higher than the national average
  • Corvallis housing is 74% higher than the national average
  • Oregon general sales tax is 100% lower than the national average
  • Oregon state income tax is 111% higher than the national average

Most Affordable Places to Live in and Around Corvallis

See all the best places to live around Corvallis

Compare Corvallis, OR Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$96,364$8,030$2,248$2,891
      Renters$33,500$2,792$782$1,005
      The affordability of the housing market in Corvallis, OR as well as the overall cost of living can be predicted 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 be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Corvallis homeowners, the median income is $96,364. This indicates that a monthly maximum of $2,248 should be spent by homeowners on all housing related costs. Renters have a median income of $33,500. This indicates that renters would have a maximum of $782 for their rent related monthly costs.

      Oregon Sales Tax

      State General Sales Tax With Max Surtax
      Oregon 0% 0%

      Oregon Income Tax

      State Income Tax (Low) Income Tax (High)
      Oregon 4.75% 9.9%

      Goods & Services

      Item Corvallis National avg. Difference
      Haircut $27.36$24.2612.8%
      Beauty Salon $43.93$45.563.6%
      Toothpaste $3.77$3.701.9%
      Shampoo $1.52$1.2818.4%
      Movie $11.07$12.138.8%
      Bowling $19.22$18.006.8%

      Groceries

      Item Corvallis National avg. Difference
      Ground Beef $5.60$5.844.1%
      Fried Chicken $2.03$1.5728.8%
      Milk $4.82$4.673.2%
      Potatoes $4.42$4.9310.5%
      Pizza $12.91$12.096.8%
      Beer $12.06$10.4115.8%

      Health Care

      Item Corvallis National avg. Difference
      Optometrist $128.83$125.682.5%
      Doctor $133.80$135.781.5%
      Dentist $129.67$113.2914.5%
      Ibuprofen $11.33$10.656.4%
      Lipitor $359.57$468.6023.3%

      Housing

      Item Corvallis National avg. Difference
      Home Price $361,800.00$184,700.0095.9%
      Avg. Mortgage Payment $3,144.31$2,346.6934.0%
      Apartment Rent $1,164.00$949.0022.7%

      Transportation

      Item Corvallis National avg. Difference
      Gasoline $4.01$3.4615.9%
      Tire Balancing $50.89$59.9215.1%

      Utilities

      Item Corvallis National avg. Difference
      All Electricity $184.23$193.995.0%
      Phone $184.96$192.253.8%
      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 Population Cost of Living Index National Avg.
      Kings Valley, OR1941033.3%
      Blodgett, OR01033.3%
      Bellfountain, OR81033.3%
      Shedd, OR2901033.3%
      Summit, OR267991.1%
      Corvallis, OR58,61212524.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      South Whittier, CA58,61614949.1%
      Great Falls, MT58,717946.4%
      Margate, FL58,4651099.3%
      Greenwood, IN58,784972.9%
      Orland Park, IL58,38011515.3%
      Corvallis, OR58,61212524.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.