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 Twin Falls Idaho National
Cost of living9596100
Goods & Services96101100
Groceries98101100
Health care9699100
Housing9388100
Transportation100105100
Utilities8786100

An Overview of Cost of Living in Twin Falls, ID

Understanding the cost of living in Twin Falls 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 Twin Falls cost of living index is 95, which is 5% 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.

The cost of living in Twin Falls is about average when compared to all other cities across the nation. You can expect that everyday items like food, goods and services and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.

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

Locals have the inside scoop on their city. So, we polled 24 residents in Twin Falls to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 38% find it reasonable with decreasing prices, but 63% think it's quite pricey, with prices that continue to rise.

Is Twin Falls Affordable?

Is Twin Falls 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 Twin Falls is 4.8% lower than the national average, while the average monthly rent prices are 11.4% lower than average. The affordability of any location can also be influenced by median income levels. Twin Falls has a median household income of $50,839, which is 8.1% lower than the national average.

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

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Twin Falls, the standard sales tax rate starts at 6%, and the income tax rates commence at 1.125%.

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Twin Falls, the groceries index registers 2.3% lower than the national average.

Where is the Data From?

The cost of living data in Twin Falls displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

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

See all the best places to live around Twin Falls

Compare Twin 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$59,945$4,995$1,399$1,799
      Renters$36,030$3,003$841$1,081
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Twin Falls, ID, 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 Twin Falls homeowners, is $59,945. This would allow for a maximum of $1,399 per month to be spent on housing costs. For renters, the median monthly income is $36,030 which would result in a maximum of $841 to be spent on rental 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 Twin 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 Twin 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 Twin 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 Twin Falls National avg. Difference
      Home Price $175,900.00$184,700.004.8%
      Avg. Mortgage Payment $1,859.77$2,346.6920.7%
      Apartment Rent $841.00$949.0011.4%

      Transportation

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

      Utilities

      Item Twin 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.
      Eden, ID3748316.9%
      Hollister, ID3098514.9%
      Buhl, ID4,4628613.9%
      Wendell, ID2,7368613.5%
      Hansen, ID1,3278613.5%
      Twin Falls, ID49,819955.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Little Elm, TX49,79212424.2%
      Kannapolis, NC49,788936.8%
      Poway, CA49,78017776.7%
      Rowland Heights, CA49,91416767.2%
      North Bethesda, MD49,71916060.3%
      Twin Falls, ID49,819955.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.