Garrett 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.
IndexGarrettIndianaNational
Cost of living index8188100
IndexGarrettIndianaNational
Goods & Services index9695100
Groceries index9292100
Health care index9295100
Housing index5173100
Transportation index8893100
Utilities index9393100
A general summary of the cost of living index in Garrett, IN is shown above. Compared to the state average of Indiana the cost of living index in Garrett, IN is 81, which is 8% lower than the average in Indiana and compared to the national average it is 19% 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 Garrett, IN goods and services come in at 1% higher than the average in Indiana and are 5% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Garrett is 8% lower than the Indiana average.
  • The cost of living in Garrett is 19% lower than the national average.
  • The cost of housing in Garrett is 49% 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 Garrett, 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 Garrett, IN, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Garrett, 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$52,090$4,341$1,215$1,563
Renters$31,490$2,624$735$945
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Garrett, 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 Garrett, IN homeowners, is $52,090. This would allow for a maximum of $1,215 per month to be spent on housing costs. For renters, the median monthly income is $31,490 which would result in a maximum of $735 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%
When assessing the complete cost of living in Garrett, IN, the Indiana income tax and the Indiana sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Indiana maximum surtax is 7%, and the Indiana sales tax is 7%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 3.3% to 3.3% in Indiana.

Goods & Services

ItemGarrettNational avg.Difference
Haircut $12.00$14.5917.8%
Beauty Salon $22.00$34.6836.6%
Toothpaste $1.78$2.4728.0%
Shampoo $0.84$1.0217.8%
Movie $9.25$9.876.3%
Bowling $3.33$4.3924.2%

Groceries

ItemGarrettNational avg.Difference
Ground Beef $4.32$4.483.5%
Fried Chicken $1.29$1.4611.9%
Milk $1.49$2.3636.8%
Potatoes $3.22$3.065.2%
Pizza $9.00$9.242.6%
Beer $8.54$8.631.1%

Health Care

ItemGarrettNational avg.Difference
Optometrist $91.33$99.788.5%
Doctor $86.33$105.0317.8%
Dentist $83.50$88.705.9%
Ibuprofen $8.08$9.4114.2%
Lipitor $301.80$298.501.1%

Housing

ItemGarrettNational avg.Difference
Home Price $79,900.00$175,700.0054.5%
Avg. Mortgage Payment $827.91$1,081.0323.4%
Apartment Rent $588.00$920.0036.1%

Transportation

ItemGarrettNational avg.Difference
Gasoline $1.90$2.099.0%
Tire Balancing $36.67$45.2919.0%

Utilities

ItemGarrettNational avg.Difference
All Electricity$137.03$170.8019.8%
Phone $30.99$28.269.7%
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.
Corunna, IN24378-22%
Ashley, IN1,25579-21%
Altona, IN25579-21%
Butler, IN2,90880-20%
St. Joe, IN43880-20%
Garrett, IN6,21381-19%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Everman, TX6,21390-10%
Shrewsbury, MO6,21798-2%
Farmington, AR6,20893-7%
Skowhegan, ME6,21998-2%
Boonville, IN6,22084-16%
Garrett, IN6,21381-19%
Source: The Garrett, IN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.