| Index | Speedway | Indiana | National |
| Cost of living | 92 | 89 | 100 |
| Groceries | 97 | 97 | 100 |
| Health care | 95 | 97 | 100 |
| Housing | 80 | 72 | 100 |
| Transportation | 99 | 96 | 100 |
| Utilities | 99 | 96 | 100 |
| Lifestyle & Entertainment | 94 | 95 | 100 |
| Household Items | 102 | 98 | 100 |
| Education & Childcare | 95 | 94 | 100 |
Knowing the cost of living in Speedway 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 Speedway stands at 92, marking it 8% lower than the national average.
The cost of living in Speedway aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, household expenses, health care and utility bills are priced at a level consistent with the average in similar urban areas. Speedway 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.
Is Speedway affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Speedway, for instance, where the median home price falls 25.4% lower than the national average, and monthly rent rates are 8.4% lower than usual. Additionally, median income levels contribute to the equation, with Speedway flaunting a median household income of $68,786, 15.4% lower than the national norm.
Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, 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. Regions with limited subsidy provisions may witness an increase in their overall cost of living.
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Speedway, the transportation index is 1.1% lower 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 Speedway, the utilities index is 1% lower than the national average.
The cost of living estimates displayed for Speedway are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across 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 | $101,788 | $8,482 | $2,375 | $3,054 |
| Renters | $58,668 | $4,889 | $1,369 | $1,760 |
| 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% |
| Clermont, IN | 1,413 | 90 | 9.8% |
| Warren Park, IN | 1,526 | 93 | 7.2% |
| Mooresville, IN | 9,995 | 92 | 7.7% |
| Indianapolis, IN | 899,521 | 93 | 6.6% |
| Speedway, IN | 12,709 | 92 | 8.1% |
| City | Population | Cost of Living Index | National Avg. |
| Broussard, LA | 12,710 | 103 | 3.0% |
| Troy, MO | 12,706 | 94 | 6.3% |
| Tamalpais-Homestead Valley, CA | 12,704 | 264 | 164.4% |
| Marysville, CA | 12,718 | 117 | 16.7% |
| Naranja, FL | 12,720 | 109 | 9.4% |
| Speedway, IN | 12,709 | 92 | 8.1% |
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