A+
18%
Overall NAT. AVG.
14%
Goods & Services NAT. AVG.
40%
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 Plymouth Indiana National
Cost of living8290100
Goods & Services8694100
Groceries10098100
Health care8796100
Housing6072100
Transportation9095100
Utilities101107100

An Overview of Cost of Living in Plymouth, IN

Knowing the cost of living in Plymouth allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Plymouth stands at 82, marking it 18% lower than the national average.

Everyday necessities such as clothing, personal hygiene products and recreational activities collectively contribute to the overall cost of living. The favorable news is that in Plymouth, these essential goods and services are priced 13.8% below the national average. This translates to the ability to procure essential items and indulge in leisure activities without depleting one's financial resources excessively. With the resulting savings, individuals have the opportunity to allocate additional funds towards their savings or other financial objectives.

Is Plymouth Affordable?

Wondering if Plymouth 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 Plymouth, for example, the median home price is 48.5% lower than what folks pay nationally, and monthly rent is 20% lower than the usual rates. Plus, income levels matter too, with Plymouth boasting a median household income of $40,444, which is 26.9% lower than the national average.

What Factors can Influence the Cost of Living in Plymouth?

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Plymouth, healthcare costs are 12.7% lower than the national average.

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Plymouth, the groceries index is 0.1% lower than the national average.

Where is the Data From?

The cost of living data in Plymouth displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Plymouth is 8% lower than the Indiana average
  • The cost of living in Plymouth is 18% lower than the national average
  • Plymouth housing is 40% 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 Plymouth

See all the best places to live around Plymouth

Compare Plymouth, 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$51,383$4,282$1,199$1,542
      Renters$31,028$2,586$724$931
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Plymouth, IN, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Plymouth homeowners, is $51,383. This would allow for a maximum of $1,199 per month to be spent on housing costs. For renters, the median monthly income is $31,028 which would result in a maximum of $724 to be spent on rental costs.

      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 Plymouth National avg. Difference
      Haircut $20.78$24.2614.4%
      Beauty Salon $52.07$45.5614.3%
      Toothpaste $3.66$3.701.1%
      Shampoo $1.34$1.284.6%
      Movie $13.08$12.137.8%
      Bowling $10.44$18.0042.0%

      Groceries

      Item Plymouth National avg. Difference
      Ground Beef $6.31$5.848.0%
      Fried Chicken $1.62$1.573.0%
      Milk $4.83$4.673.3%
      Potatoes $4.96$4.930.4%
      Pizza $11.04$12.098.7%
      Beer $9.65$10.417.3%

      Health Care

      Item Plymouth National avg. Difference
      Optometrist $132.22$125.685.2%
      Doctor $117.36$135.7813.6%
      Dentist $99.95$113.2911.8%
      Ibuprofen $10.40$10.652.4%
      Lipitor $356.34$468.6024.0%

      Housing

      Item Plymouth National avg. Difference
      Home Price $95,200.00$184,700.0048.5%
      Avg. Mortgage Payment $1,868.87$2,346.6920.4%
      Apartment Rent $759.00$949.0020.0%

      Transportation

      Item Plymouth National avg. Difference
      Gasoline $3.38$3.462.4%
      Tire Balancing $42.17$59.9229.6%

      Utilities

      Item Plymouth National avg. Difference
      All Electricity $199.24$193.992.7%
      Phone $190.02$192.251.2%
      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.
      Monterey, IN3917921.3%
      Hamlet, IN7588020.3%
      La Paz, IN6298019.9%
      Mentone, IN1,1998019.6%
      Etna Green, IN5658019.6%
      Plymouth, IN10,0298217.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Brandon, SD10,0301010.7%
      Westgate, FL10,0271021.6%
      Berlin, NH10,025919.0%
      The Pinery, CO10,03315555.4%
      Elkhorn, WI10,034955.1%
      Plymouth, IN10,0298217.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.