A+
20%
Overall NAT. AVG.
12%
Goods & Services NAT. AVG.
52%
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 Marion Indiana National
Cost of living8090100
Goods & Services8894100
Groceries9998100
Health care9496100
Housing4872100
Transportation9195100
Utilities107107100

An Overview of Cost of Living in Marion, IN

Getting a feel for the cost of living in Marion is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Marion is 80, which is 20% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

The cost of living in Marion is highly regarded for its affordability, with everyday expenses well below the national average. Marion is among the select few cities with a cost of living index at least 20% lower than the national average, showcasing its outstanding affordability compared to other areas.

Housing expenses often consume a significant portion of your net income, occasionally surpassing 30%. Fortunately, housing costs in Marion are 51.9% below the national average. This highlights the region's exceptional affordability for both homeownership and rentals in comparison to the rest of the country. This favorable housing situation allows residents to allocate a more reasonable fraction of their income to housing, resulting in enhanced financial flexibility and improved overall financial well-being.

Everyday staples like clothes, toiletries and entertainment expenses play a big role in your total living costs. But in Marion, these goods are 12% cheaper than the national average. So, you can enjoy what you need and love without emptying your wallet. Plus, you'll have more cash to put towards your savings or any other money goals you have, which is a real boost for your financial well-being.

Is Marion Affordable?

Wondering if Marion is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Marion, for example, the median home price is 62.2% lower than what folks pay nationally, and monthly rent is 27.8% lower than the usual rates. Plus, income levels matter too, with Marion boasting a median household income of $35,252, which is 36.3% lower than the national average.

What Factors can Influence the Cost of Living in Marion?

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Marion, the utilities index registers at 6.7% higher 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.

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Marion, the groceries index is 0.6% lower than the national average.

Where is the Data From?

The Marion cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Marion is 11% lower than the Indiana average
  • The cost of living in Marion is 20% lower than the national average
  • Marion housing is 52% lower than the national average
  • Indiana general sales tax is 37% higher than the national average
  • Indiana state income tax is 21% higher than the national average

Most Affordable Places to Live in and Around Marion

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Compare Marion, 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 Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$45,184$3,765$1,054$1,356
      Renters$24,981$2,082$583$750
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Marion, 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 Marion homeowners, is $45,184. This would allow for a maximum of $1,054 per month to be spent on housing costs. For renters, the median monthly income is $24,981 which would result in a maximum of $583 to be spent on rental costs.

      Indiana Sales Tax

      State General Sales Tax With Max Surtax
      Indiana 7% 7%

      Indiana Income Tax

      State Income Tax (Low) Income Tax (High)
      Indiana 3.15% 3.15%

      Goods & Services

      Item Marion National avg. Difference
      Haircut $22.11$24.268.9%
      Beauty Salon $28.08$45.5638.4%
      Toothpaste $3.62$3.702.2%
      Shampoo $1.27$1.281.1%
      Movie $9.50$12.1321.7%
      Bowling $15.50$18.0013.9%

      Groceries

      Item Marion National avg. Difference
      Ground Beef $5.96$5.842.0%
      Fried Chicken $1.61$1.572.1%
      Milk $4.69$4.670.4%
      Potatoes $5.00$4.931.4%
      Pizza $13.99$12.0915.7%
      Beer $9.95$10.414.4%

      Health Care

      Item Marion National avg. Difference
      Optometrist $138.00$125.689.8%
      Doctor $128.67$135.785.2%
      Dentist $96.11$113.2915.2%
      Ibuprofen $10.38$10.652.6%
      Lipitor $486.44$468.603.8%

      Housing

      Item Marion National avg. Difference
      Home Price $69,800.00$184,700.0062.2%
      Avg. Mortgage Payment $1,547.29$2,346.6934.1%
      Apartment Rent $685.00$949.0027.8%

      Transportation

      Item Marion National avg. Difference
      Gasoline $3.49$3.460.7%
      Tire Balancing $41.11$59.9231.4%

      Utilities

      Item Marion National avg. Difference
      All Electricity $216.22$193.9911.5%
      Phone $189.67$192.251.3%
      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.
      Point Isabel, IN91946.4%
      Mier, IN42946.4%
      Landess, IN89981.9%
      Jalapa, IN143946.4%
      Sims, IN93946.4%
      Marion, IN27,7308020.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Rockledge, FL27,7391076.6%
      Glen Ellyn, IL27,74113636.1%
      Frankfort, KY27,705928.0%
      Kirkwood, MO27,77211514.8%
      Perry Hall, MD27,77811717.2%
      Marion, IN27,7308020.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.