A+
12%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
44%
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 Terre Haute Indiana National
Cost of living8890100
Goods & Services9994100
Groceries9898100
Health care13196100
Housing5672100
Transportation10395100
Utilities107107100

An Overview of Cost of Living in Terre Haute, IN

Understanding the cost of living in Terre Haute can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Terre Haute cost of living index is 88, which is 12% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

It's not uncommon for housing expenses to eat up a substantial portion of your income, oten exceeding 30%. The good news is that Terre Haute stands out by reporting housing costs that are 44.4% lower than the national average. This signifies that both homeownership and rental expenses in this region are considerably more affordable compared to the rest of the country. This favorable housing situation allows residents to allocate a more manageable portion of their income to housing, resulting in greater financial flexibility.

What Do Locals Say About the Cost of Living in Terre Haute?

Locals have the inside scoop on their city. So, we polled 6 residents in Terre Haute to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 33% find it reasonable with decreasing prices, but 67% think it's quite pricey, with prices that continue to rise.

Is Terre Haute Affordable?

Is Terre Haute affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Terre Haute, the median home price is 54.6% lower than the national average and monthly rent prices are 20.5% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Terre Haute boasting a median household income of $37,299, 32.6% lower than the national average.

What Factors can Influence the Cost of Living in Terre Haute?

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Terre Haute, healthcare costs are 30.8% higher than the national average.

Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Terre Haute, the general sales tax rate starts at 7%, and income tax rates begin at 3.23%.

Where is the Data From?

The Terre Haute cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Terre Haute is 1% lower than the Indiana average
  • The cost of living in Terre Haute is 12% lower than the national average
  • Terre Haute housing is 44% 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 Terre Haute

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Compare Terre Haute, 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$53,711$4,476$1,253$1,611
      Renters$22,927$1,911$535$688
      To approximate the cost of living and the housing affordability in Terre Haute, IN, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Terre Haute have a median income of $53,711. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,253 per month to avoid calamity and poverty. The renters in the city have an income of about $22,927, which would make their monthly maximum allowable rental costs $535.

      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 Terre Haute National avg. Difference
      Haircut $18.50$24.2623.7%
      Beauty Salon $30.00$45.5634.2%
      Toothpaste $3.71$3.700.3%
      Shampoo $1.24$1.282.9%
      Movie $9.63$12.1320.6%
      Bowling $15.00$18.0016.7%

      Groceries

      Item Terre Haute National avg. Difference
      Ground Beef $5.92$5.841.4%
      Fried Chicken $1.62$1.573.2%
      Milk $4.75$4.671.7%
      Potatoes $5.14$4.934.1%
      Pizza $13.25$12.099.6%
      Beer $9.97$10.414.2%

      Health Care

      Item Terre Haute National avg. Difference
      Optometrist $150.00$125.6819.3%
      Doctor $146.67$135.788.0%
      Dentist $205.92$113.2981.8%
      Ibuprofen $10.29$10.653.4%
      Lipitor $441.50$468.605.8%

      Housing

      Item Terre Haute National avg. Difference
      Home Price $83,800.00$184,700.0054.6%
      Avg. Mortgage Payment $1,778.87$2,346.6924.2%
      Apartment Rent $754.00$949.0020.5%

      Transportation

      Item Terre Haute National avg. Difference
      Gasoline $3.45$3.460.3%
      Tire Balancing $67.33$59.9212.4%

      Utilities

      Item Terre Haute National avg. Difference
      All Electricity $216.89$193.9911.8%
      Phone $190.03$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.
      Dresser, IN371032.6%
      Blanford, IN2488020.4%
      Universal, IN3398119.1%
      West Terre Haute, IN2,1938514.8%
      Rosedale, IN8468614.4%
      Terre Haute, IN60,6908811.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Marietta, GA60,68711514.6%
      Malden, MA60,71015049.9%
      Leander, TX60,61311313.4%
      Monterey Park, CA60,59716868.2%
      Lakewood, WA60,56412625.8%
      Terre Haute, IN60,6908811.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.