Cost Of Living in Cumberland, 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	Cumberland	Indiana	National
Cost of living	95	90	100
Goods & Services	96	94	100
Groceries	100	98	100
Health care	89	96	100
Housing	90	72	100
Transportation	96	95	100
Utilities	104	107	100

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Cost Of Living Quick Facts

The cost of living in Cumberland is 6% higher than the Indiana average
The cost of living in Cumberland is 5% lower than the national average
Cumberland housing is 10% 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	$78,512	$6,543	$1,832	$2,356
Renters	$37,439	$3,120	$874	$1,123

The affordability of the housing market in Cumberland, IN as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Cumberland homeowners, the median income is $78,512. This indicates that a monthly maximum of $1,832 should be spent by homeowners on all housing related costs. Renters have a median income of $37,439. This indicates that renters would have a maximum of $874 for their rent related monthly 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	Cumberland	National avg.	Difference
Haircut	$19.53	$24.26	19.5%
Beauty Salon	$39.03	$45.56	14.3%
Toothpaste	$3.67	$3.70	0.9%
Shampoo	$1.33	$1.28	4.1%
Movie	$10.91	$12.13	10.1%
Bowling	$18.70	$18.00	3.9%

Groceries

Item	Cumberland	National avg.	Difference
Ground Beef	$5.91	$5.84	1.3%
Fried Chicken	$1.61	$1.57	2.4%
Milk	$4.73	$4.67	1.3%
Potatoes	$5.07	$4.93	2.7%
Pizza	$12.39	$12.09	2.5%
Beer	$10.30	$10.41	1.1%

Health Care

Item	Cumberland	National avg.	Difference
Optometrist	$73.37	$125.68	41.6%
Doctor	$99.19	$135.78	26.9%
Dentist	$109.26	$113.29	3.6%
Ibuprofen	$10.70	$10.65	0.4%
Lipitor	$509.36	$468.60	8.7%

Housing

Item	Cumberland	National avg.	Difference
Home Price	$167,000.00	$184,700.00	9.6%
Avg. Mortgage Payment	$1,794.91	$2,346.69	23.5%
Apartment Rent	$838.00	$949.00	11.7%

Transportation

Item	Cumberland	National avg.	Difference
Gasoline	$3.39	$3.46	2.2%
Tire Balancing	$54.63	$59.92	8.8%

Utilities

Item	Cumberland	National avg.	Difference
All Electricity	$207.03	$193.99	6.7%
Phone	$190.02	$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.
Morristown, IN	1,139	88	12.5%
Spring Lake, IN	253	88	11.7%
Beech Grove, IN	15,148	88	11.6%
Ingalls, IN	2,494	90	10.0%
Fairland, IN	662	91	9.3%
Cumberland, IN	5,840	95	4.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Truth or Consequences, NM	5,839	79	20.5%
Roseland, NJ	5,841	153	53.4%
Oreland, PA	5,838	121	20.6%
Hingham, MA	5,837	210	109.7%
Manasquan, NJ	5,837	166	65.8%
Cumberland, IN	5,840	95	4.9%

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 Cumberland, IN