A+
11%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
32%
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 New Haven Indiana National
Cost of living8990100
Goods & Services9694100
Groceries10198100
Health care9696100
Housing6872100
Transportation9895100
Utilities102107100

An Overview of Cost of Living in New Haven, IN

Are you thinking about relocating, but curious about the potential cost of living in New Haven? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in New Haven stands at 89, making it 11% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Is New Haven Affordable?

Wondering if New Haven is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In New Haven, for example, the median home price is 39.6% lower than what folks pay nationally, and monthly rent is 13.2% lower than the usual rates. Plus, income levels matter too, with New Haven boasting a median household income of $52,827, which is 4.5% lower than the national average.

What Factors can Influence the Cost of Living in New Haven?

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In New Haven, the utilities index registers 1.5% higher than the national average.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In New Haven, the standard sales tax rate starts at 7%, and the income tax rates commence at 3.23%.

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Where is the Data From?

The cost of living in New Haven, 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 New Haven is 1% lower than the Indiana average
  • The cost of living in New Haven is 11% lower than the national average
  • New Haven housing is 32% lower than the national average
  • Indiana general sales tax is 37% higher than the national average
  • Indiana state income tax is 43% higher than the national average

Most Affordable Places to Live in and Around New Haven

See all the best places to live around New Haven

Compare New Haven, IN 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$55,891$4,658$1,304$1,677
      Renters$36,178$3,015$844$1,085
      A good way to judge both the affordability of the housing and the cost of living in New Haven is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. New Haven has a median income of about $55,891 for people who own homes. Based on that number, a maximum of $1,304 should be spent on expenses related to housing. Renters have a slightly different median income, which is $36,178. Based on this average, renters should spend no more than $844 on all rental costs if they want to maintain a non-impoverished standard of living.

      Indiana Sales Tax

      State General Sales Tax With Max Surtax
      Indiana 7% 7%

      Indiana Income Tax

      State Income Tax (Low) Income Tax (High)
      Indiana 3.23% 3.23%

      Goods & Services

      Item New Haven National avg. Difference
      Haircut $26.22$24.268.1%
      Beauty Salon $33.78$45.5625.9%
      Toothpaste $3.63$3.702.0%
      Shampoo $1.32$1.283.3%
      Movie $12.75$12.135.1%
      Bowling $16.72$18.007.1%

      Groceries

      Item New Haven National avg. Difference
      Ground Beef $6.10$5.844.4%
      Fried Chicken $1.64$1.574.1%
      Milk $4.74$4.671.5%
      Potatoes $5.08$4.933.0%
      Pizza $12.79$12.095.8%
      Beer $10.06$10.413.3%

      Health Care

      Item New Haven National avg. Difference
      Optometrist $104.30$125.6817.0%
      Doctor $119.61$135.7811.9%
      Dentist $110.00$113.292.9%
      Ibuprofen $10.59$10.650.6%
      Lipitor $528.19$468.6012.7%

      Housing

      Item New Haven National avg. Difference
      Home Price $111,500.00$184,700.0039.6%
      Avg. Mortgage Payment $1,635.69$2,346.6930.3%
      Apartment Rent $824.00$949.0013.2%

      Transportation

      Item New Haven National avg. Difference
      Gasoline $3.35$3.463.2%
      Tire Balancing $59.65$59.920.5%

      Utilities

      Item New Haven National avg. Difference
      All Electricity $197.87$193.992.0%
      Phone $192.69$192.250.2%
      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.
      Monroeville, IN1,3158514.5%
      Woodburn, IN1,3908713.1%
      Zanesville, IN6258911.0%
      Grabill, IN1,2788910.8%
      Fort Wayne, IN268,3789010.3%
      New Haven, IN15,9348911.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Dyer, IN15,9331109.9%
      Easthampton Town, MA15,93011514.7%
      Comox, BC15,938n/a 
      Walnut Park, CA15,93914141.4%
      Washougal, WA15,92712827.7%
      New Haven, IN15,9348911.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.