Cost Of Living in Boonville, IN

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	Boonville	Indiana	National
Cost of living	88	90	100
Goods & Services	100	94	100
Groceries	95	98	100
Health care	88	96	100
Housing	59	72	100
Transportation	91	95	100
Utilities	121	107	100

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Cost Of Living Quick Facts

The cost of living in Boonville is 2% lower than the Indiana average
The cost of living in Boonville is 12% lower than the national average
Boonville housing is 41% 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

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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	$65,000	$5,417	$1,517	$1,950
Renters	$25,641	$2,137	$598	$769

A good indicator of the general affordability of housing in Boonville, IN, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Boonville, the median monthly income is $65,000 for those who own their own homes. Under the standard rule, that income level would allow for $1,517 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $25,641, per the median income in the area. That would allow for renters to spend up to $598 on monthly rental expenses.

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	Boonville	National avg.	Difference
Haircut	$25.34	$24.26	4.4%
Beauty Salon	$44.12	$45.56	3.2%
Toothpaste	$3.70	$3.70	0.0%
Shampoo	$1.23	$1.28	3.9%
Movie	$13.11	$12.13	8.1%
Bowling	$16.17	$18.00	10.2%

Groceries

Item	Boonville	National avg.	Difference
Ground Beef	$5.74	$5.84	1.8%
Fried Chicken	$1.37	$1.57	13.2%
Milk	$4.50	$4.67	3.7%
Potatoes	$5.13	$4.93	3.9%
Pizza	$11.24	$12.09	7.0%
Beer	$9.75	$10.41	6.4%

Health Care

Item	Boonville	National avg.	Difference
Optometrist	$94.06	$125.68	25.2%
Doctor	$105.07	$135.78	22.6%
Dentist	$103.51	$113.29	8.6%
Ibuprofen	$10.26	$10.65	3.7%
Lipitor	$470.38	$468.60	0.4%

Housing

Item	Boonville	National avg.	Difference
Home Price	$103,100.00	$184,700.00	44.2%
Avg. Mortgage Payment	$1,772.15	$2,346.69	24.5%
Apartment Rent	$640.00	$949.00	32.6%

Transportation

Item	Boonville	National avg.	Difference
Gasoline	$3.25	$3.46	6.1%
Tire Balancing	$50.23	$59.92	16.2%

Utilities

Item	Boonville	National avg.	Difference
All Electricity	$259.32	$193.99	33.7%
Phone	$189.86	$192.25	1.2%

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.
Spurgeon, IN	123	83	16.9%
Chrisney, IN	684	84	16.2%
Gentryville, IN	383	85	15.2%
Holland, IN	726	85	15.1%
Tennyson, IN	230	85	15.1%
Boonville, IN	6,512	88	12.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Lovejoy, GA	6,511	96	4.0%
Purcell, OK	6,508	88	12.1%
Garrett, IN	6,507	87	12.7%
Lawrence, NY	6,517	212	111.7%
El Rio, CA	6,506	154	53.5%
Boonville, IN	6,512	88	12.1%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Boonville, IN