| Index | Kokomo | Indiana | National |
| Cost of living | 86 | 89 | 100 |
| Groceries | 98 | 97 | 100 |
| Health care | 96 | 97 | 100 |
| Housing | 59 | 72 | 100 |
| Transportation | 99 | 96 | 100 |
| Utilities | 99 | 96 | 100 |
| Lifestyle & Entertainment | 95 | 95 | 100 |
| Household Items | 96 | 98 | 100 |
| Education & Childcare | 93 | 94 | 100 |
Understanding the cost of living in Kokomo 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 Kokomo cost of living index is 86, which is 14% 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.
Housing expenses can absorb a substantial portion of your net income, sometimes exceeding 30%. Thankfully, Kokomo stands out by reporting housing costs that are 40.7% lower than the national average. This signifies that both homeownership and rental expenses in this region are considerably more budget-friendly compared to the rest of the country. With such favorable housing affordability, residents of Kokomo can allocate a more reasonable portion of their income to housing, allowing for greater financial flexibility.
When it comes to knowing a city, its residents are the experts. We conducted a survey with 10 locals to understand their opinions on the cost of living in Kokomo. The results indicated that 50% found it reasonably priced with decreasing prices of goods and services, while 50% viewed it as quite expensive, with increasing prices.
Is Kokomo 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 Kokomo, the median home price is 48.9% lower than the national average and monthly rent prices are 21.3% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Kokomo boasting a median household income of $71,830, 11.7% lower than the national average.
Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.
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 Kokomo, the groceries index is 2.1% lower than the national average.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Kokomo, the transportation index is 0.7% lower than the national average.
The cost of living data for Kokomo shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $87,322 | $7,277 | $2,037 | $2,620 |
| Renters | $47,973 | $3,998 | $1,119 | $1,439 |
| State | General Sales Tax | With Max Surtax |
| Indiana | 7% | 7% |
| State | Income Tax (Low) | Income Tax (High) |
| Indiana | 3.15% | 3.15% |
| City | Population | Cost of Living Index | National Avg. |
| Sims, IN | 95 | 97 | 3.1% |
| Bunker Hill, IN | 656 | 80 | 19.6% |
| Windfall City, IN | 732 | 81 | 18.7% |
| Walton, IN | 937 | 82 | 17.7% |
| Converse, IN | 1,167 | 83 | 17.4% |
| Kokomo, IN | 60,311 | 86 | 14.4% |
| City | Population | Cost of Living Index | National Avg. |
| Springfield, OH | 60,312 | 84 | 16.1% |
| Mirabel, QC | 60,296 | n/a | |
| Great Falls, MT | 60,209 | 100 | 0.3% |
| Orland Park, IL | 60,161 | 114 | 14.2% |
| Des Plaines, IL | 60,159 | 112 | 12.4% |
| Kokomo, IN | 60,311 | 86 | 14.4% |
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