Silver Springs 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.
IndexSilver SpringsNevadaNational
Cost of living index94103100
IndexSilver SpringsNevadaNational
Goods & Services index111106100
Groceries index102103100
Health care index107105100
Housing index6299100
Transportation index117116100
Utilities index9291100
A general summary of the cost of living index in Silver Springs, NV is shown above. Compared to the state average of Nevada the cost of living index in Silver Springs, NV is 94, which is 9% lower than the average in Nevada and compared to the national average it is 6% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Silver Springs, NV goods and services come in at 5% higher than the average in Nevada and are 11% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Silver Springs is 9% lower than the Nevada average.
  • The cost of living in Silver Springs is 6% lower than the national average.
  • The cost of housing in Silver Springs is 38% lower than the national average.
  • Nevada general sales tax is 35% higher than the national average.
  • Nevada state income tax is 100% lower than the national average.

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Compare Silver Springs, NV Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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The salary calculator allows you to compare how much your current salary in Silver Springs, NV would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Silver Springs, NV, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Silver Springs, NV salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$36,875$3,073$860$1,106
Renters$20,921$1,743$488$628
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Silver Springs, NV 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 Silver Springs, NV homeowners, is $36,875. This would allow for a maximum of $860 per month to be spent on housing costs. For renters, the median monthly income is $20,921 which would result in a maximum of $488 to be spent on rental costs.

Nevada Sales Tax

StateGeneral Sales TaxWith Max Surtax
Nevada6.85%8.1%

Nevada Income Tax

StateIncome Tax (Low)Income Tax (High)
Nevada0%0%
When you are determining the total cost of living in Silver Springs, NV you will want to make sure you consider both the Nevada sales tax and the Nevada 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 Nevada is 6.85%, with the highest surtax being 8.1%. 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 Nevada have a range from 0% to 0%.

Goods & Services

ItemSilver SpringsNational avg.Difference
Haircut $14.17$15.569.0%
Beauty Salon $40.97$36.1113.5%
Toothpaste $3.08$2.4724.6%
Shampoo $1.15$0.9618.8%
Movie $10.25$10.131.2%
Bowling $4.42$4.746.7%

Groceries

ItemSilver SpringsNational avg.Difference
Ground Beef $3.69$3.987.5%
Fried Chicken $1.09$1.4122.3%
Milk $2.53$2.0622.6%
Potatoes $2.78$2.986.8%
Pizza $11.00$9.4716.1%
Beer $9.15$8.794.1%

Health Care

ItemSilver SpringsNational avg.Difference
Optometrist $102.92$101.041.9%
Doctor $135.40$107.4426.0%
Dentist $91.47$90.421.2%
Ibuprofen $10.87$9.2817.1%
Lipitor $374.94$426.5012.1%

Housing

ItemSilver SpringsNational avg.Difference
Home Price $87,200.00$175,700.0050.4%
Avg. Mortgage Payment $1,081.61$1,133.234.6%
Apartment Rent $846.00$920.008.0%

Transportation

ItemSilver SpringsNational avg.Difference
Gasoline $2.52$1.9926.6%
Tire Balancing $42.99$45.766.1%

Utilities

ItemSilver SpringsNational avg.Difference
All Electricity$140.54$163.8114.2%
Phone $28.40$28.390.0%
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, StatePopulationCost of Living IndexNational Avg.
Wadsworth, NV92791-9%
Stagecoach, NV1,58193-7%
Fernley, NV19,1841000%
Silver Springs, NV5,60594-6%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Loudon, TN5,60679-21%
Grandwood Park, IL5,60611818%
Pecan Plantation, TX5,6071099%
Lakeview, GA5,60384-16%
Pana, IL5,60178-22%
Silver Springs, NV5,60594-6%
Source: The Silver Springs, NV cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.