Cost Of Living in Hailey, ID

C

19%

Overall NAT. AVG.

5%

Goods & Services NAT. AVG.

74%

Housing NAT. AVG.

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	Hailey	Idaho	National
Cost of living	119	96	100
Goods & Services	96	101	100
Groceries	98	101	100
Health care	96	99	100
Housing	174	88	100
Transportation	100	105	100
Utilities	87	86	100

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Cost Of Living Quick Facts

The cost of living in Hailey is 24% higher than the Idaho average
The cost of living in Hailey is 19% higher than the national average
Hailey housing is 74% higher than the national average
Idaho general sales tax is 18% higher than the national average
Idaho state income tax is 50% lower than the national average

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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 Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$72,298	$6,025	$1,687	$2,169
Renters	$24,919	$2,077	$581	$748

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Hailey, ID, 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 Hailey homeowners, is $72,298. This would allow for a maximum of $1,687 per month to be spent on housing costs. For renters, the median monthly income is $24,919 which would result in a maximum of $581 to be spent on rental costs.

Idaho Sales Tax

State	General Sales Tax	With Max Surtax
Idaho	6%	8.5%

Idaho Income Tax

State	Income Tax (Low)	Income Tax (High)
Idaho	1.125%	6.5%

Goods & Services

Item	Hailey	National avg.	Difference
Haircut	$22.96	$24.26	5.4%
Beauty Salon	$36.09	$45.56	20.8%
Toothpaste	$4.16	$3.70	12.4%
Shampoo	$1.04	$1.28	19.0%
Movie	$11.75	$12.13	3.2%
Bowling	$12.32	$18.00	31.6%

Groceries

Item	Hailey	National avg.	Difference
Ground Beef	$6.63	$5.84	13.5%
Fried Chicken	$1.36	$1.57	13.2%
Milk	$4.52	$4.67	3.3%
Potatoes	$4.62	$4.93	6.5%
Pizza	$10.57	$12.09	12.5%
Beer	$10.41	$10.41	0.0%

Health Care

Item	Hailey	National avg.	Difference
Optometrist	$130.57	$125.68	3.9%
Doctor	$151.89	$135.78	11.9%
Dentist	$97.67	$113.29	13.8%
Ibuprofen	$10.36	$10.65	2.7%
Lipitor	$409.05	$468.60	12.7%

Housing

Item	Hailey	National avg.	Difference
Home Price	$398,400.00	$184,700.00	115.7%
Avg. Mortgage Payment	$1,859.77	$2,346.69	20.7%
Apartment Rent	$726.00	$949.00	23.5%

Transportation

Item	Hailey	National avg.	Difference
Gasoline	$3.70	$3.46	6.8%
Tire Balancing	$49.70	$59.92	17.0%

Utilities

Item	Hailey	National avg.	Difference
All Electricity	$161.77	$193.99	16.6%
Phone	$177.84	$192.25	7.5%

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.
Bellevue, ID	2,430	116	15.9%
Ketchum, ID	2,843	153	53.3%
Sun Valley, ID	1,581	187	86.5%
Hailey, ID	8,575	119	18.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Berthoud, CO	8,574	126	26.3%
Mount Pleasant, IA	8,574	90	10.3%
Stony Brook University, NY	8,574	112	12.4%
Signal Mountain, TN	8,574	120	20.1%
Harrisburg, IL	8,578	84	15.7%
Hailey, ID	8,575	119	18.9%