A+
5%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
7%
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 Idaho Falls Idaho National
Cost of living9596100
Goods & Services96101100
Groceries98101100
Health care9699100
Housing9388100
Transportation100105100
Utilities8786100

An Overview of Cost of Living in Idaho Falls, ID

The cost of living in Idaho Falls affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Idaho Falls is 95, which is 5% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in Idaho Falls aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Idaho Falls residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

What Do Locals Say About the Cost of Living in Idaho Falls?

The real experts on a city are its residents. That's why we reached out to 43 locals to get their views on the cost of living in Idaho Falls. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 56% found it budget-friendly with decreasing prices, while 44% said it's simply not affordable as prices have continued to rise.

Is Idaho Falls Affordable?

Is Idaho Falls 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 Idaho Falls, the median home price is 2.8% lower than the national average and monthly rent prices are 17.1% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Idaho Falls boasting a median household income of $56,590, 2.3% higher than the national average.

What Factors can Influence the Cost of Living in Idaho Falls?

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Idaho Falls, healthcare costs are 4% lower than the national average.

Subsidies: Certain cities or states may institute government subsidies or assistance programs designed to alleviate the financial burdens associated with the cost of living for their residents. These programs encompass a variety of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Areas that provide fewer subsidies may see an uptick in their overall cost of living.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Idaho Falls, the utilities index registers 13% lower than the national average.

Where is the Data From?

The cost of living in Idaho Falls, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Idaho Falls is 1% lower than the Idaho average
  • The cost of living in Idaho Falls is 5% lower than the national average
  • Idaho Falls housing is 7% lower 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

Most Affordable Places to Live in and Around Idaho Falls

See all the best places to live around Idaho Falls

Compare Idaho Falls, ID 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$72,105$6,009$1,682$2,163
      Renters$36,485$3,040$851$1,095
      The affordability of the housing market in Idaho Falls, ID as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Idaho Falls homeowners, the median income is $72,105. This indicates that a monthly maximum of $1,682 should be spent by homeowners on all housing related costs. Renters have a median income of $36,485. This indicates that renters would have a maximum of $851 for their rent related monthly 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 Idaho Falls National avg. Difference
      Haircut $22.96$24.265.4%
      Beauty Salon $36.09$45.5620.8%
      Toothpaste $4.16$3.7012.4%
      Shampoo $1.04$1.2819.0%
      Movie $11.75$12.133.2%
      Bowling $12.32$18.0031.6%

      Groceries

      Item Idaho Falls National avg. Difference
      Ground Beef $6.63$5.8413.5%
      Fried Chicken $1.36$1.5713.2%
      Milk $4.52$4.673.3%
      Potatoes $4.62$4.936.5%
      Pizza $10.57$12.0912.5%
      Beer $10.41$10.410.0%

      Health Care

      Item Idaho Falls National avg. Difference
      Optometrist $130.57$125.683.9%
      Doctor $151.89$135.7811.9%
      Dentist $97.67$113.2913.8%
      Ibuprofen $10.36$10.652.7%
      Lipitor $409.05$468.6012.7%

      Housing

      Item Idaho Falls National avg. Difference
      Home Price $179,600.00$184,700.002.8%
      Avg. Mortgage Payment $1,859.77$2,346.6920.7%
      Apartment Rent $787.00$949.0017.1%

      Transportation

      Item Idaho Falls National avg. Difference
      Gasoline $3.70$3.466.8%
      Tire Balancing $49.70$59.9217.0%

      Utilities

      Item Idaho Falls National avg. Difference
      All Electricity $161.77$193.9916.6%
      Phone $177.84$192.257.5%
      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.
      Firth, ID5688514.9%
      Ririe, ID634964.3%
      Shelley, ID4,455927.6%
      Rigby, ID4,2091021.6%
      Ucon, ID1,430936.8%
      Idaho Falls, ID62,417955.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Council Bluffs, IA62,3769010.3%
      Doral, FL62,36714039.6%
      North Miami, FL62,46811110.8%
      Pico Rivera, CA62,50714747.0%
      Waltham, MA62,59716665.6%
      Idaho Falls, ID62,417955.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.