Greencastle 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.
IndexGreencastleIndianaNational
Cost of living index8787100
IndexGreencastleIndianaNational
Goods & Services index9994100
Groceries index10894100
Health care index9395100
Housing index6473100
Transportation index9492100
Utilities index8390100
Displayed above is a general overview of the Greencastle, IN cost of living index. The overall cost of living index in Greencastle, IN is 87, which is equal to the Indiana average and 13% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Greencastle, IN are 6% higher than the Indiana average and 1% lower than the national average.

Did you know?

  • The cost of living in Greencastle is equal to the Indiana average.
  • The cost of living in Greencastle is 13% lower than the national average.
  • The cost of housing in Greencastle is 36% 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

This is how much you would need to earn in
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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
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The salary calculator is used in order to provide a comparison of your current salary in Greencastle, IN 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 Greencastle, IN, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Greencastle, IN 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$52,339$4,362$1,221$1,570
Renters$28,339$2,362$661$850
If you want to find a good determining factor for the cost of living and the general affordability of housing in Greencastle, 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 Greencastle, IN, the median monthly income is $52,339 for those who own their own homes. Under the standard rule, that income level would allow for $1,221 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $28,339, per the median income in the area. That would allow for renters to spend up to $661 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%
When assessing the complete cost of living in Greencastle, 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

ItemGreencastleNational avg.Difference
Haircut $15.85$15.561.8%
Beauty Salon $37.65$36.114.3%
Toothpaste $2.06$2.4716.6%
Shampoo $0.96$0.961.0%
Movie $10.47$10.133.4%
Bowling $4.06$4.7414.3%

Groceries

ItemGreencastleNational avg.Difference
Ground Beef $4.29$3.987.6%
Fried Chicken $1.39$1.411.3%
Milk $2.11$2.062.3%
Potatoes $3.31$2.9810.9%
Pizza $9.83$9.473.8%
Beer $9.21$8.794.7%

Health Care

ItemGreencastleNational avg.Difference
Optometrist $136.79$101.0435.4%
Doctor $76.69$107.4428.6%
Dentist $81.31$90.4210.1%
Ibuprofen $10.99$9.2818.4%
Lipitor $428.12$426.500.4%

Housing

ItemGreencastleNational avg.Difference
Home Price $108,700.00$175,700.0038.1%
Avg. Mortgage Payment $938.33$1,133.2317.2%
Apartment Rent $638.00$920.0030.7%

Transportation

ItemGreencastleNational avg.Difference
Gasoline $1.98$1.990.7%
Tire Balancing $37.50$45.7618.0%

Utilities

ItemGreencastleNational avg.Difference
All Electricity$151.45$163.817.5%
Phone $19.96$28.3929.7%
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.
Van Bibber Lake, IN30767-33%
Russellville, IN38080-20%
Brazil, IN8,02283-17%
Carbon, IN57783-17%
Knightsville, IN87784-16%
Greencastle, IN10,30787-13%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Parsons, KS10,30778-22%
Oak Hills, CA10,30812424%
Cadillac, MI10,30681-19%
West Haverstraw, NY10,30812424%
Broomall, PA10,31212828%
Greencastle, IN10,30787-13%
Source: The Greencastle, IN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.