Peru, IN Cost Of Living

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.
Index	Peru	Indiana	National
Cost of living index	81	89	100
Index	Peru	Indiana	National
Goods & Services index	96	98	100
Groceries index	97	94	100
Health care index	94	93	100
Housing index	42	72	100
Transportation index	97	96	100
Utilities index	107	94	100

Displayed above is a general overview of the Peru, IN cost of living index. The overall cost of living index in Peru, IN is 81, which is 9% lower than the Indiana average and 19% 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% lower than the Indiana average and 4% lower than the national average.

Did you know?

The cost of living in Peru is 9% lower than the Indiana average.
The cost of living in Peru is 19% lower than the national average.
The cost of housing in Peru is 58% 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

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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 Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$39,729	$3,311	$927	$1,192
Renters	$20,150	$1,679	$470	$605

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 $39,729 for those who own their own homes. Under the standard rule, that income level would allow for $927 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $20,150, per the median income in the area. That would allow for renters to spend up to $470 on monthly rental expenses.

Indiana Sales Tax

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

Indiana Income Tax

State	Income Tax (Low)	Income Tax (High)
Indiana	3.3%	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

Item	Peru	National avg.	Difference
Haircut	$16.18	$16.09	0.6%
Beauty Salon	$30.01	$37.33	19.6%
Toothpaste	$2.65	$2.45	8.4%
Shampoo	$1.02	$1.00	1.6%
Movie	$9.50	$10.28	7.6%
Bowling	$3.75	$4.93	23.9%

Groceries

Item	Peru	National avg.	Difference
Ground Beef	$4.01	$3.80	5.5%
Fried Chicken	$1.41	$1.40	0.7%
Milk	$1.59	$2.01	21.0%
Potatoes	$2.91	$3.01	3.5%
Pizza	$11.00	$9.89	11.2%
Beer	$8.35	$8.90	6.2%

Health Care

Item	Peru	National avg.	Difference
Optometrist	$100.00	$102.16	2.1%
Doctor	$90.00	$108.36	16.9%
Dentist	$90.00	$92.53	2.7%
Ibuprofen	$8.34	$9.28	10.1%
Lipitor	$436.79	$425.82	2.6%

Housing

Item	Peru	National avg.	Difference
Home Price	$61,300.00	$184,700.00	66.8%
Avg. Mortgage Payment	$795.49	$1,202.44	33.8%
Apartment Rent	$604.00	$949.00	36.4%

Transportation

Item	Peru	National avg.	Difference
Gasoline	$2.27	$2.24	1.2%
Tire Balancing	$41.46	$46.29	10.4%

Utilities

Item	Peru	National avg.	Difference
All Electricity	$158.68	$165.96	4.4%
Phone	$34.99	$28.68	22.0%

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, State	Population	Cost of Living Index	National Avg.
Mier, IN	167	99	-1%
Macy, IN	252	72	-28%
Onward, IN	141	78	-22%
Bunker Hill, IN	533	81	-19%
Grissom AFB, IN	2,391	82	-18%
Peru, IN	11,415	81	-19%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Somerset, KY	11,415	85	-15%
Pennsville, NJ	11,421	102	2%
Two Rivers, WI	11,409	84	-16%
Summit, IL	11,409	103	3%
Garden City, ID	11,423	95	-5%
Peru, IN	11,415	81	-19%

Source: The Peru, IN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Peru, IN Cost of Living