C-
22%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
55%
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 Silverton Oregon National
Cost of living122111100
Goods & Services106105100
Groceries111109100
Health care110105100
Housing155123100
Transportation126117100
Utilities9696100

An Overview of Cost of Living in Silverton, OR

Getting a feel for the cost of living in Silverton is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Silverton is 122, which is 22% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Silverton is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Silverton falls into this category, which may not align with your goal of finding a budget-friendly living environment.

When it comes to the cost of living in Silverton, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 54.7% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

The cost of groceries continues to rise at an alarming rate. Over the last two years, grocery prices have increased by more than 10%! Unfortunately, in Silverton, the news isn't any better as grocery prices are 10.5% higher than the national average.

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

Nobody knows their city better than the people who actually live there. So, we asked 5 local residents how they would rate the cost of living in Silverton and this is how they responded. 0% of people said that the cost of living was affordable, with prices decreasing, while 100% of people said that the cost of living was very expensive and prices continue to rise.

Is Silverton Affordable?

Is Silverton 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 Silverton, the median home price is 75.6% higher than the national average and monthly rent prices are 6.1% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Silverton boasting a median household income of $68,350, 23.5% higher than the national average.

What Factors can Influence the Cost of Living in Silverton?

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable 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 Silverton starts at 0% and the income tax rates start at 4.75%.

Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Silverton, the utilities index stands at 3.8% lower than the national average.

Where is the Data From?

The cost of living data in Silverton 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.

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Cost Of Living Quick Facts

  • The cost of living in Silverton is 10% higher than the Oregon average
  • The cost of living in Silverton is 22% higher than the national average
  • Silverton housing is 55% higher than the national average
  • Oregon general sales tax is 100% lower than the national average
  • Oregon state income tax is 83% higher than the national average

Most Affordable Places to Live in and Around Silverton

See all the best places to live around Silverton

Compare Silverton, OR 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$79,085$6,590$1,845$2,373
      Renters$36,591$3,049$854$1,098
      To approximate the cost of living and the housing affordability in Silverton, OR, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Silverton have a median income of $79,085. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,845 per month to avoid calamity and poverty. The renters in the city have an income of about $36,591, which would make their monthly maximum allowable rental costs $854.

      Oregon Sales Tax

      State General Sales Tax With Max Surtax
      Oregon 0% 0%

      Oregon Income Tax

      State Income Tax (Low) Income Tax (High)
      Oregon 4.75% 9.9%

      Goods & Services

      Item Silverton National avg. Difference
      Haircut $41.22$24.2669.9%
      Beauty Salon $60.58$45.5633.0%
      Toothpaste $3.63$3.702.0%
      Shampoo $1.53$1.2819.5%
      Movie $12.98$12.136.9%
      Bowling $18.31$18.001.7%

      Groceries

      Item Silverton National avg. Difference
      Ground Beef $6.17$5.845.7%
      Fried Chicken $2.03$1.5728.8%
      Milk $5.04$4.677.9%
      Potatoes $4.39$4.9311.1%
      Pizza $12.21$12.091.0%
      Beer $12.07$10.4115.9%

      Health Care

      Item Silverton National avg. Difference
      Optometrist $131.94$125.685.0%
      Doctor $188.49$135.7838.8%
      Dentist $115.08$113.291.6%
      Ibuprofen $11.58$10.658.7%
      Lipitor $386.53$468.6017.5%

      Housing

      Item Silverton National avg. Difference
      Home Price $324,300.00$184,700.0075.6%
      Avg. Mortgage Payment $3,332.86$2,346.6942.0%
      Apartment Rent $1,007.00$949.006.1%

      Transportation

      Item Silverton National avg. Difference
      Gasoline $4.16$3.4620.3%
      Tire Balancing $84.45$59.9240.9%

      Utilities

      Item Silverton National avg. Difference
      All Electricity $182.73$193.995.8%
      Phone $190.36$192.251.0%
      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.
      Labish Village, OR4911065.6%
      Brooks, OR6211065.9%
      Four Corners, OR16,49111010.0%
      Hayesville, OR22,18911110.8%
      Aumsville, OR4,14511211.5%
      Silverton, OR10,42612222.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Union City, TN10,4268217.8%
      Newcastle, OK10,425973.3%
      Del Aire, CA10,42418382.8%
      Sugarmill Woods, FL10,424990.9%
      Little Canada, MN10,4231055.1%
      Silverton, OR10,42612222.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.