Cost of Living in Salina, KS

An Overview of Cost of Living in Salina, KS

The cost of living in Salina 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 Salina is 87, which is 13% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Everyday necessities such as clothing, personal hygiene products and recreational activities collectively contribute to the overall cost of living. The favorable news is that in Salina, these essential goods and services are priced 13.4% below the national average. This translates to the ability to procure essential items and indulge in leisure activities without depleting one's financial resources excessively. With the resulting savings, individuals have the opportunity to allocate additional funds towards their savings or other financial objectives.

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

The most insightful perspective on a city comes from its residents. We recently surveyed 15 locals to gauge their perception of the cost of living in Salina. The feedback revealed that 7% of respondents found the cost of living to be reasonable, with prices on the decline, while 93% regarded it as notably expensive with prices that continue to rise.

Is Salina Affordable?

Wondering if Salina is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Salina, for example, the median home price is 27.7% lower than what folks pay nationally, and monthly rent is 19% lower than the usual rates. Plus, income levels matter too, with Salina boasting a median household income of $49,870, which is 9.9% lower than the national average.

What Factors can Influence the Cost of Living in Salina?

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Salina, the groceries index is 4.6% lower than the national average.

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 Salina starts at 6.5% and the income tax rates start at 3.1%.

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 Salina, the housing index is 25.1% lower than the national average.

Where is the Data From?

The cost of living data in Salina displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.