Parsons 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.
IndexParsonsKansasNational
Cost of living index7890100
IndexParsonsKansasNational
Goods & Services index8896100
Groceries index9093100
Health care index9197100
Housing index4276100
Transportation index9493100
Utilities index12198100
An overview of the general cost of living index for Parsons, KS is displayed above for your reference. Residents in Parsons, KS enjoy a cost of living index of 78. This index is 12% lower than the Kansas average, and 22% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Parsons, KS, the average cost of goods and services is 9% lower than it is in Kansas, and it is 13% lower than the national average.

Did you know?

  • The cost of living in Parsons is 12% lower than the Kansas average.
  • The cost of living in Parsons is 22% lower than the national average.
  • The cost of housing in Parsons is 58% lower than the national average.
  • Kansas general sales tax is 21% higher than the national average.
  • Kansas state income tax is 21% higher than the national average.

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Use the salary calculator to compare your current income in Parsons, KS 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 Parsons, KS, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Parsons, KS 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$44,092$3,674$1,029$1,323
Renters$23,368$1,947$545$701
The affordability of the housing market in Parsons, KS as well as the overall cost of living can be indicated accurately 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 ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Parsons, KS homeowners, the median income is $44,092. This indicates that a monthly maximum of $1,029 should be spent by homeowners on all housing related costs. Renters have a median income of $23,368. This indicates that renters should have a maximum of $545 used for their rent related monthly costs.

Kansas Sales Tax

StateGeneral Sales TaxWith Max Surtax
Kansas6.15%9.65%

Kansas Income Tax

StateIncome Tax (Low)Income Tax (High)
Kansas2.7%4.6%
For those who live in Parsons, KS and want to know what the true cost of living is, they ought to look at both the Kansas income tax rate and the Kansas sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Kansas, the sales tax is 6.15%, while the most you'll pay in surtax is 9.65%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Kansas, the income tax rate ranges between 2.7% to 4.6%.

Goods & Services

ItemParsonsNational avg.Difference
Haircut $15.94$15.562.4%
Beauty Salon $23.11$36.1136.0%
Toothpaste $2.05$2.4717.2%
Shampoo $0.93$0.964.0%
Movie $12.06$10.1319.1%
Bowling $3.50$4.7426.1%

Groceries

ItemParsonsNational avg.Difference
Ground Beef $4.25$3.986.6%
Fried Chicken $1.32$1.416.4%
Milk $2.10$2.061.9%
Potatoes $2.55$2.9814.4%
Pizza $9.00$9.475.0%
Beer $8.62$8.792.0%

Health Care

ItemParsonsNational avg.Difference
Optometrist $93.60$101.047.4%
Doctor $105.33$107.442.0%
Dentist $77.73$90.4214.0%
Ibuprofen $6.71$9.2827.7%
Lipitor $425.83$426.500.2%

Housing

ItemParsonsNational avg.Difference
Home Price $56,300.00$175,700.0068.0%
Avg. Mortgage Payment $755.34$1,133.2333.3%
Apartment Rent $610.00$920.0033.7%

Transportation

ItemParsonsNational avg.Difference
Gasoline $1.71$1.9914.3%
Tire Balancing $51.34$45.7612.2%

Utilities

ItemParsonsNational avg.Difference
All Electricity$185.51$163.8113.2%
Phone $37.89$28.3933.5%
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.
Labette, KS4074-26%
McCune, KS50475-25%
Mound Valley, KS45276-24%
Oswego, KS2,01877-23%
Thayer, KS54979-21%
Parsons, KS10,30778-22%

Cities with similar population

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