Cost of Living in Topeka, KS

An Overview of Cost of Living in Topeka, KS

Are you thinking about relocating, but curious about the potential cost of living in Topeka? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Topeka stands at 88, making it 12% 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.

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

When it comes to knowing a city, its residents are the experts. We conducted a survey with 25 locals to understand their opinions on the cost of living in Topeka. The results indicated that 48% found it reasonably priced with decreasing prices of goods and services, while 52% viewed it as quite expensive, with increasing prices.

Is Topeka Affordable?

Is Topeka an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Topeka is 42.8% lower than the national average, while the average monthly rent prices are 14.1% lower than average. The affordability of any location can also be influenced by median income levels. Topeka has a median household income of $49,647, which is 10.3% lower than the national average.

What Factors can Influence the Cost of Living in Topeka?

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Topeka, the baseline sales tax rate begins at 6.5%, and income tax rates start at 3.1%.

Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Topeka, the groceries index is 2.9% lower than the national average.

Where is the Data From?

The Topeka 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.