An Overview of Cost of Living in Ammon, ID
Understanding the cost of living in Ammon 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 Ammon cost of living index is 100, which is 0% equal to 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.
In Ammon, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Ammon will resemble that of an average city, contributing to a manageable cost of living.
Is Ammon Affordable?
Is Ammon an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Ammon is 19.3% higher than the national average, while the average monthly rent prices are 4.6% lower than average. The affordability of any location can also be influenced by median income levels. Ammon has a median household income of $55,065, which is 0.5% lower than the national average.
What Factors can Influence the Cost of Living in Ammon?
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Ammon, the groceries index is 2.3% lower than the national average.
Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Ammon, is 12.1% higher than the national average.
Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Ammon, the transportation index is 0.1% lower than the national average.
Where is the Data From?
The Ammon 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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