| Index | Lawrence | Indiana | National |
| Cost of living | 96 | 89 | 100 |
| Groceries | 100 | 97 | 100 |
| Health care | 96 | 97 | 100 |
| Housing | 93 | 72 | 100 |
| Transportation | 100 | 96 | 100 |
| Utilities | 93 | 96 | 100 |
| Lifestyle & Entertainment | 98 | 95 | 100 |
| Household Items | 99 | 98 | 100 |
| Education & Childcare | 99 | 94 | 100 |
Knowing the cost of living in Lawrence allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Lawrence stands at 96, marking it 4% lower than the national average.
In Lawrence, daily expenses such as food, housing, lifestyle expenses, 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 Lawrence will resemble that of an average city, contributing to a manageable cost of living.
Is Lawrence 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 Lawrence is 9.7% lower than the national average, while the average monthly rent prices are 0.8% lower than average. The affordability of any location can also be influenced by median income levels. Lawrence has a median household income of $92,874, which is 14.2% higher than the national average.
Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Lawrence, the utilities index is 7.2% lower than the national average.
Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.
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 Lawrence, the transportation index is 0.5% lower than the national average.
The cost of living data for Lawrence 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.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $128,674 | $10,723 | $3,002 | $3,861 |
| Renters | $51,786 | $4,316 | $1,208 | $1,554 |
| 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. |
| Beech Grove, IN | 15,679 | 88 | 11.7% |
| Spring Lake, IN | 259 | 89 | 10.8% |
| Ingalls, IN | 2,544 | 89 | 11.0% |
| Speedway, IN | 12,709 | 92 | 8.1% |
| Warren Park, IN | 1,526 | 93 | 7.2% |
| Lawrence, IN | 50,012 | 96 | 3.5% |
| City | Population | Cost of Living Index | National Avg. |
| Lincoln, CA | 50,006 | 153 | 53.1% |
| Draper, UT | 50,021 | 145 | 45.3% |
| Tuckahoe, VA | 49,974 | 123 | 22.8% |
| Newark, CA | 49,971 | 195 | 95.1% |
| Middletown, OH | 50,075 | 88 | 12.2% |
| Lawrence, IN | 50,012 | 96 | 3.5% |
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