A+
18%
Overall NAT. AVG.
14%
Goods & Services NAT. AVG.
39%
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 Elkhart Indiana National
Cost of living8290100
Goods & Services8694100
Groceries10098100
Health care8796100
Housing6172100
Transportation9095100
Utilities101107100

An Overview of Cost of Living in Elkhart, IN

Are you thinking about relocating, but curious about the potential cost of living in Elkhart? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Elkhart stands at 82, making it 18% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Everyday staples like clothes, toiletries and entertainment expenses play a big role in your total living costs. But in Elkhart, these goods are 13.8% cheaper than the national average. So, you can enjoy what you need and love without emptying your wallet. Plus, you'll have more cash to put towards your savings or any other money goals you have, which is a real boost for your financial well-being.

Is Elkhart Affordable?

Is Elkhart an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Elkhart, the median home price is 47.8% lower than what most folks pay across the country, and monthly rent prices are 17.1% lower than the usual rates. Income levels in Elkhart come in at $40,101, which is 27.5% lower than the national average.

What Factors can Influence the Cost of Living in Elkhart?

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Elkhart, the housing index is 38.5% lower than the national average.

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Elkhart, the transportation index is 10.3% lower than the national average.

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as 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 farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Where is the Data From?

The Elkhart cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors 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 Elkhart is 8% lower than the Indiana average
  • The cost of living in Elkhart is 18% lower than the national average
  • Elkhart housing is 39% 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

Most Affordable Places to Live in and Around Elkhart

See all the best places to live around Elkhart

Compare Elkhart, IN 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$50,338$4,195$1,174$1,510
      Renters$27,190$2,266$634$816
      A good way to judge both the affordability of the housing and the cost of living in Elkhart is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Elkhart has a median income of about $50,338 for people who own homes. Based on that number, a maximum of $1,174 should be spent on expenses related to housing. Renters have a slightly different median income, which is $27,190. Based on this average, renters should spend no more than $634 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 Elkhart National avg. Difference
      Haircut $20.78$24.2614.4%
      Beauty Salon $52.07$45.5614.3%
      Toothpaste $3.66$3.701.1%
      Shampoo $1.34$1.284.6%
      Movie $13.08$12.137.8%
      Bowling $10.44$18.0042.0%

      Groceries

      Item Elkhart National avg. Difference
      Ground Beef $6.31$5.848.0%
      Fried Chicken $1.62$1.573.0%
      Milk $4.83$4.673.3%
      Potatoes $4.96$4.930.4%
      Pizza $11.04$12.098.7%
      Beer $9.65$10.417.3%

      Health Care

      Item Elkhart National avg. Difference
      Optometrist $132.22$125.685.2%
      Doctor $117.36$135.7813.6%
      Dentist $99.95$113.2911.8%
      Ibuprofen $10.40$10.652.4%
      Lipitor $356.34$468.6024.0%

      Housing

      Item Elkhart National avg. Difference
      Home Price $96,500.00$184,700.0047.8%
      Avg. Mortgage Payment $1,868.87$2,346.6920.4%
      Apartment Rent $787.00$949.0017.1%

      Transportation

      Item Elkhart National avg. Difference
      Gasoline $3.38$3.462.4%
      Tire Balancing $42.17$59.9229.6%

      Utilities

      Item Elkhart National avg. Difference
      All Electricity $199.24$193.992.7%
      Phone $190.02$192.251.2%
      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.
      Niles, MI11,1688019.7%
      Edwardsburg, MI1,1158316.6%
      Mishawaka, IN49,6758416.1%
      Millersburg, IN8078515.4%
      Roseland, IN7458515.1%
      Elkhart, IN52,6578217.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Châteauguay, QC52,776n/a 
      West New York, NJ52,77813534.8%
      Apopka, FL52,79511010.0%
      Delano, CA52,82111212.2%
      Milford city, CT52,90212828.3%
      Elkhart, IN52,6578217.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.