Cost Of Living In Shelbyville, IN

Shelbyville 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	Shelbyville	Indiana	National
Cost of living index	80	87	100
Index	Shelbyville	Indiana	National
Goods & Services index	85	94	100
Groceries index	87	94	100
Health care index	97	95	100
Housing index	62	73	100
Transportation index	92	92	100
Utilities index	94	90	100

The above illustration supplies generalized information for the Shelbyville, IN cost of living index. Compared to other cities in Indiana and cities across the country, the cost of living index in Shelbyville, IN is 80, which is 8% lower than the Indiana average and 20% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Shelbyville, IN are 9% lower than the average for Indiana and 15% lower than the rest of the country.

Did you know?

The cost of living in Shelbyville is 8% lower than the Indiana average.
The cost of living in Shelbyville is 20% lower than the national average.
The cost of housing in Shelbyville is 38% 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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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

The salary calculator is used in order to provide a comparison of your current salary in Shelbyville, IN to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Shelbyville, IN, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Shelbyville, IN salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$56,267	$4,689	$1,313	$1,688
Renters	$28,011	$2,334	$654	$840

A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Shelbyville, IN, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Shelbyville, IN has a median income of about $56,267 for people who own homes. Based on that number, a person should spend a maximum of $1,313 on expenses related to housing. Renters have a slightly different median income, which is $28,011. Based on this average, renters should spend no more than $654 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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%

For those who live in Shelbyville, IN and want to know what the true cost of living is, they ought to look at both the Indiana income tax rate and the Indiana 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 Indiana, the sales tax is 7%, while the most you'll pay in surtax is 7%. 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 Indiana, the income tax rate ranges between 3.3% to 3.3%.

Goods & Services

Item	Shelbyville	National avg.	Difference
Haircut	$12.03	$15.56	22.7%
Beauty Salon	$24.06	$36.11	33.4%
Toothpaste	$1.74	$2.47	29.5%
Shampoo	$0.77	$0.96	19.9%
Movie	$8.50	$10.13	16.1%
Bowling	$3.53	$4.74	25.4%

Groceries

Item	Shelbyville	National avg.	Difference
Ground Beef	$3.82	$3.98	4.2%
Fried Chicken	$0.99	$1.41	29.8%
Milk	$1.38	$2.06	33.3%
Potatoes	$2.74	$2.98	8.2%
Pizza	$8.04	$9.47	15.1%
Beer	$8.83	$8.79	0.4%

Health Care

Item	Shelbyville	National avg.	Difference
Optometrist	$97.33	$101.04	3.7%
Doctor	$93.51	$107.44	13.0%
Dentist	$93.50	$90.42	3.4%
Ibuprofen	$8.19	$9.28	11.7%
Lipitor	$439.68	$426.50	3.1%

Housing

Item	Shelbyville	National avg.	Difference
Home Price	$96,400.00	$175,700.00	45.1%
Avg. Mortgage Payment	$837.55	$1,133.23	26.1%
Apartment Rent	$718.00	$920.00	22.0%

Transportation

Item	Shelbyville	National avg.	Difference
Gasoline	$1.95	$1.99	2.0%
Tire Balancing	$35.84	$45.76	21.7%

Utilities

Item	Shelbyville	National avg.	Difference
All Electricity	$155.18	$163.81	5.3%
Phone	$26.67	$28.39	6.1%

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.
Carthage, IN	767	76	-24%
Manilla, IN	220	77	-23%
Arlington, IN	471	77	-23%
Fairland, IN	334	78	-22%
St. Paul, IN	1,181	78	-22%
Shelbyville, IN	19,216	80	-20%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Cortland, NY	19,218	87	-13%
Simpsonville, SC	19,219	95	-5%
West Melbourne, FL	19,208	103	3%
Melville, NY	19,228	181	81%
Macomb, IL	19,193	81	-19%
Shelbyville, IN	19,216	80	-20%

Source: The Shelbyville, IN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.

Shelbyville, IN Cost of Living