A-
Overall 18%
Goods & Services 4%
Housing 46%
Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; 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.
IndexGarrettIndianaNational
Cost of living8289100
Goods & Services9697100
Groceries8692100
Health care10594100
Housing5472100
Transportation96100100
Utilities9299100

Key findings

  • The cost of living in Garrett is 8% lower than the Indiana average
  • The cost of living in Garrett is 18% lower than the national average
  • Garrett housing is 46% lower than the national average
  • Indiana general sales tax is 37% higher than the national average
  • Indiana state income tax is 31% higher than the national average

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Compare Garrett, IN Cost of Living

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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

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$51,720$4,310$1,207$1,552
      Renters$34,453$2,871$804$1,034
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Garrett, IN, 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 Garrett homeowners, is $51,720. This would allow for a maximum of $1,207 per month to be spent on housing costs. For renters, the median monthly income is $34,453 which would result in a maximum of $804 to be spent on rental costs.

      Indiana Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      Indiana7%7%

      Indiana Income Tax

      StateIncome Tax (Low)Income Tax (High)
      Indiana3.23%3.23%

      Goods & Services

      ItemGarrettNational avg.Difference
      Haircut $18.00$17.492.9%
      Beauty Salon $31.00$38.1718.8%
      Toothpaste $1.85$2.3220.3%
      Shampoo $0.88$1.0113.0%
      Movie $10.96$10.722.2%
      Bowling $13.33$13.863.8%

      Groceries

      ItemGarrettNational avg.Difference
      Ground Beef $3.77$3.903.3%
      Fried Chicken $0.88$1.4036.9%
      Milk $1.17$1.9640.4%
      Potatoes $2.60$3.1818.3%
      Pizza $9.49$10.398.7%
      Beer $8.99$9.232.6%

      Health Care

      ItemGarrettNational avg.Difference
      Optometrist $70.25$106.3433.9%
      Doctor $129.50$115.2512.4%
      Dentist $108.00$98.389.8%
      Ibuprofen $8.12$9.2612.3%
      Lipitor $511.83$466.479.7%

      Housing

      ItemGarrettNational avg.Difference
      Home Price $84,100.00$184,700.0054.5%
      Avg. Mortgage Payment $742.77$1,273.3241.7%
      Apartment Rent $694.00$949.0026.9%

      Transportation

      ItemGarrettNational avg.Difference
      Gasoline $2.63$2.591.4%
      Tire Balancing $44.00$48.9010.0%

      Utilities

      ItemGarrettNational avg.Difference
      All Electricity$144.78$167.6013.6%
      Phone $181.43$163.4211.0%
      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.
      Ashley, IN1,09779-21%
      Corunna, IN28879-21%
      St. Joe, IN46779-21%
      Waterloo, IN2,16680-20%
      Altona, IN22680-20%
      Garrett, IN6,62082-18%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Crozet, VA6,62012020%
      Oak Ridge, NC6,61711515%
      Fort Riley, KS6,6171000%
      Folcroft, PA6,6161000%
      Canton, NY6,6241022%
      Garrett, IN6,62082-18%
      Source: The Garrett, IN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.