A+
6%
Overall NAT. AVG.
0%
Goods & Services NAT. AVG.
21%
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 Jasper Indiana National
Cost of living9490100
Goods & Services10094100
Groceries9598100
Health care8896100
Housing7972100
Transportation9195100
Utilities121107100

An Overview of Cost of Living in Jasper, IN

Are you thinking about relocating, but curious about the potential cost of living in Jasper? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Jasper stands at 94, making it 6% 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.

The cost of living in Jasper closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Jasper can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

What Do Locals Say About the Cost of Living in Jasper?

Locals have the inside scoop on their city. So, we polled 5 residents in Jasper to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 0% find it reasonable with decreasing prices, but 100% think it's quite pricey, with prices that continue to rise.

Is Jasper Affordable?

Is Jasper affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Jasper, for instance, where the median home price falls 14.7% lower than the national average, and monthly rent rates are 34.4% lower than usual. Additionally, median income levels contribute to the equation, with Jasper flaunting a median household income of $56,020, 1.3% higher than the national norm.

What Factors can Influence the Cost of Living in Jasper?

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.

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Jasper starts at 7% and the income tax rates start at 3.23%.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Jasper, healthcare costs are 12.1% lower than the national average.

Where is the Data From?

The Jasper 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 Jasper is 5% higher than the Indiana average
  • The cost of living in Jasper is 6% lower than the national average
  • Jasper housing is 21% 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 Jasper

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Compare Jasper, 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$69,992$5,833$1,633$2,100
      Renters$30,621$2,552$714$919
      A good indicator of the general affordability of housing in Jasper, 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 Jasper, the median monthly income is $69,992 for those who own their own homes. Under the standard rule, that income level would allow for $1,633 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $30,621, per the median income in the area. That would allow for renters to spend up to $714 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 Jasper National avg. Difference
      Haircut $25.34$24.264.4%
      Beauty Salon $44.12$45.563.2%
      Toothpaste $3.70$3.700.0%
      Shampoo $1.23$1.283.9%
      Movie $13.11$12.138.1%
      Bowling $16.17$18.0010.2%

      Groceries

      Item Jasper National avg. Difference
      Ground Beef $5.74$5.841.8%
      Fried Chicken $1.37$1.5713.2%
      Milk $4.50$4.673.7%
      Potatoes $5.13$4.933.9%
      Pizza $11.24$12.097.0%
      Beer $9.75$10.416.4%

      Health Care

      Item Jasper National avg. Difference
      Optometrist $94.06$125.6825.2%
      Doctor $105.07$135.7822.6%
      Dentist $103.51$113.298.6%
      Ibuprofen $10.26$10.653.7%
      Lipitor $470.38$468.600.4%

      Housing

      Item Jasper National avg. Difference
      Home Price $157,600.00$184,700.0014.7%
      Avg. Mortgage Payment $1,772.15$2,346.6924.5%
      Apartment Rent $623.00$949.0034.4%

      Transportation

      Item Jasper National avg. Difference
      Gasoline $3.25$3.466.1%
      Tire Balancing $50.23$59.9216.2%

      Utilities

      Item Jasper National avg. Difference
      All Electricity $259.32$193.9933.7%
      Phone $189.86$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.
      Alfordsville, IN35990.7%
      Otwell, IN2457623.6%
      Dubois, IN1738217.8%
      Winslow, IN9008415.7%
      Holland, IN7268515.1%
      Jasper, IN15,681946.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      North Arlington, NJ15,68113030.1%
      West Hants, NS15,678n/a 
      Hanover, PA15,675991.0%
      Ocean Pointe, HI15,68819595.2%
      Lady Lake, FL15,695946.5%
      Jasper, IN15,681946.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.