A+
6%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
15%
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 Greenfield Indiana National
Cost of living9490100
Goods & Services9694100
Groceries10098100
Health care8996100
Housing8572100
Transportation9695100
Utilities104107100

An Overview of Cost of Living in Greenfield, IN

The cost of living in Greenfield 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 Greenfield is 94, which is 6% lower 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 Greenfield 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. Greenfield 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.

Is Greenfield Affordable?

Is Greenfield affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Greenfield, the median home price is 18.4% lower than the national average and monthly rent prices are 5.6% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Greenfield boasting a median household income of $57,950, 4.8% higher than the national average.

What Factors can Influence the Cost of Living in Greenfield?

Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from 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 crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.

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 Greenfield, healthcare costs are 10.9% lower than the national average.

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 Greenfield, the groceries index registers 0.1% higher than the national average.

Where is the Data From?

The Greenfield 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Greenfield is 5% higher than the Indiana average
  • The cost of living in Greenfield is 6% lower than the national average
  • Greenfield housing is 15% 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 Greenfield

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Compare Greenfield, 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$68,288$5,691$1,593$2,049
      Renters$42,337$3,528$988$1,270
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Greenfield, 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 Greenfield homeowners, is $68,288. This would allow for a maximum of $1,593 per month to be spent on housing costs. For renters, the median monthly income is $42,337 which would result in a maximum of $988 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 Greenfield National avg. Difference
      Haircut $19.53$24.2619.5%
      Beauty Salon $39.03$45.5614.3%
      Toothpaste $3.67$3.700.9%
      Shampoo $1.33$1.284.1%
      Movie $10.91$12.1310.1%
      Bowling $18.70$18.003.9%

      Groceries

      Item Greenfield National avg. Difference
      Ground Beef $5.91$5.841.3%
      Fried Chicken $1.61$1.572.4%
      Milk $4.73$4.671.3%
      Potatoes $5.07$4.932.7%
      Pizza $12.39$12.092.5%
      Beer $10.30$10.411.1%

      Health Care

      Item Greenfield National avg. Difference
      Optometrist $73.37$125.6841.6%
      Doctor $99.19$135.7826.9%
      Dentist $109.26$113.293.6%
      Ibuprofen $10.70$10.650.4%
      Lipitor $509.36$468.608.7%

      Housing

      Item Greenfield National avg. Difference
      Home Price $150,800.00$184,700.0018.4%
      Avg. Mortgage Payment $1,794.91$2,346.6923.5%
      Apartment Rent $896.00$949.005.6%

      Transportation

      Item Greenfield National avg. Difference
      Gasoline $3.39$3.462.2%
      Tire Balancing $54.63$59.928.8%

      Utilities

      Item Greenfield National avg. Difference
      All Electricity $207.03$193.996.7%
      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.
      Shirley, IN1,0558415.6%
      Carthage, IN8918416.0%
      Knightstown, IN2,2608514.6%
      Kennard, IN6638812.5%
      Morristown, IN1,1398812.5%
      Greenfield, IN22,561946.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Silver Firs, WA22,56415958.9%
      Jasmine Estates, FL22,572909.9%
      Lincolnia, VA22,57914847.9%
      South Lake Tahoe, CA22,53513029.8%
      Trussville, AL22,59011110.6%
      Greenfield, IN22,561946.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.