Springfield 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.
IndexSpringfieldVermontNational
Cost of living index104113100
IndexSpringfieldVermontNational
Goods & Services index117106100
Groceries index103109100
Health care index116107100
Housing index75115100
Transportation index106128100
Utilities index137123100
Here we can see a simple outline of the cost of living in Springfield, VT. As you can see, with the average cost of living in Springfield, VT being 104, that puts it 8% lower than the average of Vermont and 4% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Springfield, VT, the price of goods and services are 10% higher than the average of Vermont as well as 17% higher than the nation's average.

Did you know?

  • The cost of living in Springfield is 8% lower than the Vermont average.
  • The cost of living in Springfield is 4% higher than the national average.
  • The cost of housing in Springfield is 25% lower than the national average.
  • Vermont general sales tax is 18% higher than the national average.
  • Vermont state income tax is 60% higher than the national average.

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Compare Springfield, VT 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
The salary calculator is used in order to provide a comparison of your current salary in Springfield, VT 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 Springfield, VT, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Springfield, VT 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 IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$55,227$4,602$1,289$1,657
Renters$16,658$1,388$389$500
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Springfield, VT 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 Springfield, VT homeowners, is $55,227. This would allow for a maximum of $1,289 per month to be spent on housing costs. For renters, the median monthly income is $16,658 which would result in a maximum of $389 to be spent on rental costs.

Vermont Sales Tax

StateGeneral Sales TaxWith Max Surtax
Vermont6%7%

Vermont Income Tax

StateIncome Tax (Low)Income Tax (High)
Vermont3.55%8.95%
When you are determining the total cost of living in Springfield, VT you will want to make sure you consider both the Vermont sales tax and the Vermont 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 Vermont is 6%, 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 Vermont have a range from 3.55% to 8.95%.

Goods & Services

ItemSpringfieldNational avg.Difference
Haircut $16.88$14.5915.7%
Beauty Salon $41.47$34.6819.6%
Toothpaste $2.32$2.476.2%
Shampoo $1.00$1.022.2%
Movie $10.20$9.873.4%
Bowling $4.62$4.395.2%

Groceries

ItemSpringfieldNational avg.Difference
Ground Beef $3.76$4.4816.0%
Fried Chicken $1.56$1.466.6%
Milk $2.21$2.366.2%
Potatoes $2.98$3.062.7%
Pizza $8.68$9.246.1%
Beer $9.07$8.635.1%

Health Care

ItemSpringfieldNational avg.Difference
Optometrist $100.39$99.780.6%
Doctor $149.18$105.0342.0%
Dentist $104.81$88.7018.2%
Ibuprofen $9.68$9.412.8%
Lipitor $277.44$298.507.1%

Housing

ItemSpringfieldNational avg.Difference
Home Price $125,500.00$175,700.0028.6%
Avg. Mortgage Payment $1,260.97$1,081.0316.6%
Apartment Rent $780.00$920.0015.2%

Transportation

ItemSpringfieldNational avg.Difference
Gasoline $2.28$2.099.0%
Tire Balancing $44.74$45.291.2%

Utilities

ItemSpringfieldNational avg.Difference
All Electricity$243.35$170.8042.5%
Phone $36.25$28.2628.3%
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.
Ascutney, VT449100-0%
North Springfield, VT4861022%
Charlestown, NH1,1291022%
Bellows Falls, VT2,7661044%
Cavendish, VT2681055%
Springfield, VT3,9131044%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Dewey-Humboldt, AZ3,91393-7%
Pittsboro, NC3,91299-1%
Belleville, MI3,91486-14%
Hardeeville, SC3,91411111%
Bordentown, NJ3,91212020%
Springfield, VT3,9131044%
Source: The Springfield, VT cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.