C+
10%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
24%
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 Dyer Indiana National
Cost of living11090100
Goods & Services10794100
Groceries10498100
Health care10896100
Housing12472100
Transportation10795100
Utilities89107100

An Overview of Cost of Living in Dyer, IN

The cost of living in Dyer affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Dyer is 110, which is 10% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in Dyer aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. Dyer 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.

Housing costs are a very significant part of the Dyer cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 23.8% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Is Dyer Affordable?

Is Dyer 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 Dyer is 23.1% higher than the national average, while the average monthly rent prices are 25.5% higher than average. The affordability of any location can also be influenced by median income levels. Dyer has a median household income of $86,117, which is 55.7% higher than the national average.

What Factors can Influence the Cost of Living in Dyer?

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Dyer, the transportation index is 7.2% higher than the national average.

Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Dyer, is 23.8% higher than the national average.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Dyer, healthcare costs are 7.7% higher than the national average.

Where is the Data From?

The Dyer 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 Dyer is 23% higher than the Indiana average
  • The cost of living in Dyer is 10% higher than the national average
  • Dyer housing is 24% higher 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 Dyer

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Compare Dyer, 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$94,732$7,894$2,210$2,842
      Renters$0$0$0$0
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Dyer, 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 Dyer homeowners, is $94,732. This would allow for a maximum of $2,210 per month to be spent on housing costs. For renters, the median monthly income is $0 which would result in a maximum of $0 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 Dyer National avg. Difference
      Haircut $33.69$24.2638.9%
      Beauty Salon $53.44$45.5617.3%
      Toothpaste $3.75$3.701.4%
      Shampoo $1.27$1.281.1%
      Movie $17.91$12.1347.6%
      Bowling $24.58$18.0036.6%

      Groceries

      Item Dyer National avg. Difference
      Ground Beef $5.28$5.849.5%
      Fried Chicken $1.42$1.579.7%
      Milk $4.87$4.674.3%
      Potatoes $4.90$4.930.7%
      Pizza $13.41$12.0910.9%
      Beer $10.00$10.414.0%

      Health Care

      Item Dyer National avg. Difference
      Optometrist $118.27$125.685.9%
      Doctor $167.67$135.7823.5%
      Dentist $128.22$113.2913.2%
      Ibuprofen $10.97$10.652.9%
      Lipitor $382.34$468.6018.4%

      Housing

      Item Dyer National avg. Difference
      Home Price $227,400.00$184,700.0023.1%
      Avg. Mortgage Payment $2,578.06$2,346.699.9%
      Apartment Rent $1,191.00$949.0025.5%

      Transportation

      Item Dyer National avg. Difference
      Gasoline $3.56$3.462.7%
      Tire Balancing $70.87$59.9218.3%

      Utilities

      Item Dyer National avg. Difference
      All Electricity $148.58$193.9923.4%
      Phone $210.03$192.259.3%
      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.
      Ford Heights, IL2,7058614.2%
      East Chicago, IN28,0448712.7%
      Gary, IN75,4868812.0%
      Phoenix, IL1,4028812.0%
      Dixmoor, IL3,5709010.2%
      Dyer, IN15,9331109.9%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      New Haven, IN15,9348911.0%
      Easthampton Town, MA15,93011514.7%
      Comox, BC15,938n/a 
      Washougal, WA15,92712827.7%
      Walnut Park, CA15,93914141.4%
      Dyer, IN15,9331109.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.