New Richmond 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.
IndexNew RichmondIndianaNational
Cost of living index8388100
IndexNew RichmondIndianaNational
Goods & Services index9795100
Groceries index8792100
Health care index9595100
Housing index5973100
Transportation index8993100
Utilities index9593100

Did you know?

  • The cost of living in New Richmond is 5% lower than the Indiana average.
  • The cost of living in New Richmond is 17% lower than the national average.
  • The cost of housing in New Richmond is 41% 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 New Richmond, IN Cost of living To Other Cities

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Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$53,750$4,479$1,254$1,613
Renters$49,375$4,115$1,152$1,481

Indiana Sales Tax

StateGeneral Sales TaxWith Max Surtax
Indiana7%7%

Indiana Income Tax

StateIncome Tax (Low)Income Tax (High)
Indiana3.3%3.3%

Goods & Services

ItemNew RichmondNational avg.Difference
Haircut $12.50$14.5914.3%
Beauty Salon $25.00$34.6827.9%
Toothpaste $2.48$2.470.3%
Shampoo $0.99$1.023.1%
Movie $9.50$9.873.7%
Bowling $2.25$4.3948.8%

Groceries

ItemNew RichmondNational avg.Difference
Ground Beef $2.76$4.4838.3%
Fried Chicken $0.92$1.4637.2%
Milk $2.08$2.3611.7%
Potatoes $2.95$3.063.6%
Pizza $12.59$9.2436.2%
Beer $8.62$8.630.1%

Health Care

ItemNew RichmondNational avg.Difference
Optometrist $86.67$99.7813.1%
Doctor $85.00$105.0319.1%
Dentist $95.00$88.707.1%
Ibuprofen $9.72$9.413.3%
Lipitor $269.01$298.509.9%

Housing

ItemNew RichmondNational avg.Difference
Home Price $85,500.00$175,700.0051.3%
Avg. Mortgage Payment $756.50$1,081.0330.0%
Apartment Rent $750.00$920.0018.5%

Transportation

ItemNew RichmondNational avg.Difference
Gasoline $1.88$2.0910.0%
Tire Balancing $38.32$45.2915.4%

Utilities

ItemNew RichmondNational avg.Difference
All Electricity$162.17$170.805.1%
Phone $26.90$28.264.8%
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, StatePopulationCost of Living IndexNational Avg.
Alamo, IN5974-26%
Mellott, IN18175-25%
Wallace, IN12779-21%
Newtown, IN28280-20%
Clarks Hill, IN59280-20%
New Richmond, IN43283-17%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Lacassine, LA43284-16%
Peter, UT43211414%
Industry, IL43279-21%
Butternut, WI43280-20%
Offerman, GA43283-17%
New Richmond, IN43283-17%
Source: The New Richmond, IN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.