Peru 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.
IndexPeruIndianaNational
Cost of living index7888100
IndexPeruIndianaNational
Goods & Services index9795100
Groceries index8792100
Health care index9595100
Housing index4373100
Transportation index8993100
Utilities index9593100
Displayed above is a general overview of the Peru, IN cost of living index. The overall cost of living index in Peru, IN is 78, which is 11% lower than the Indiana average and 22% 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 Peru, IN are 2% higher than the Indiana average and 3% lower than the national average.

Did you know?

  • The cost of living in Peru is 11% lower than the Indiana average.
  • The cost of living in Peru is 22% lower than the national average.
  • The cost of housing in Peru is 57% 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 Peru, IN Cost of living To Other Cities

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
Using the salary calculator lets you compare the salary you earn in Peru, IN to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Peru, IN, you have to earn a higher income in order to still have the same standard of living. To operate the Peru, IN salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$36,800$3,067$859$1,104
Renters$24,568$2,047$573$737
If you want to find a good determining factor for the cost of living and the general affordability of housing in Peru, 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 Peru, IN, the median monthly income is $36,800 for those who own their own homes. Under the standard rule, that income level would allow for $859 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $24,568, per the median income in the area. That would allow for renters to spend up to $573 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 you are determining the total cost of living in Peru, IN you will want to make sure you consider both the Indiana sales tax and the Indiana income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Indiana is 7%, with the highest surtax being 7%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Indiana have a range from 3.3% to 3.3%.

Goods & Services

ItemPeruNational 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

ItemPeruNational 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

ItemPeruNational 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

ItemPeruNational avg.Difference
Home Price $59,000.00$175,700.0066.4%
Avg. Mortgage Payment $756.50$1,081.0330.0%
Apartment Rent $595.00$920.0035.3%

Transportation

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

Utilities

ItemPeruNational 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.
Macy, IN22571-29%
Bunker Hill, IN56078-22%
Grissom AFB, IN2,25879-21%
Logansport, IN17,93379-21%
Onward, IN16780-20%
Peru, IN11,19978-22%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
West Point, MS11,20078-22%
Woodinville, WA11,20114444%
Springdale, OH11,20191-9%
Ridgefield, NJ11,19116363%
Merriam, KS11,19194-6%
Peru, IN11,19978-22%
Source: The Peru, IN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.