B
3%
Overall NAT. AVG.
7%
Goods & Services NAT. AVG.
1%
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 Valparaiso Indiana National
Cost of living10390100
Goods & Services10794100
Groceries10498100
Health care10896100
Housing10172100
Transportation10795100
Utilities89107100

An Overview of Cost of Living in Valparaiso, IN

Are you thinking about relocating, but curious about the potential cost of living in Valparaiso? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Valparaiso stands at 103, making it 3% higher 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.

Everyday expenditures like food, housing, goods and services, transportation and health care in Valparaiso are priced in a manner consistent with other areas. This means that residents of Valparaiso can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

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

Locals have the inside scoop on their city. So, we polled 5 residents in Valparaiso 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? 40% find it reasonable with decreasing prices, but 60% think it's quite pricey, with prices that continue to rise.

Is Valparaiso Affordable?

Is Valparaiso 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 Valparaiso, for instance, where the median home price falls 2% higher than the national average, and monthly rent rates are 1.3% lower than usual. Additionally, median income levels contribute to the equation, with Valparaiso flaunting a median household income of $56,027, 1.3% higher than the national norm.

What Factors can Influence the Cost of Living in Valparaiso?

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as 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 farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Valparaiso, is 1% higher than the national average.

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.

Where is the Data From?

The Valparaiso 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 Valparaiso is 15% higher than the Indiana average
  • The cost of living in Valparaiso is 3% higher than the national average
  • Valparaiso housing is 1% higher 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 Valparaiso

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Compare Valparaiso, 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$84,639$7,053$1,975$2,539
      Renters$35,424$2,952$827$1,063
      A good way to judge both the affordability of the housing and the cost of living in Valparaiso is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Valparaiso has a median income of about $84,639 for people who own homes. Based on that number, a maximum of $1,975 should be spent on expenses related to housing. Renters have a slightly different median income, which is $35,424. Based on this average, renters should spend no more than $827 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 Valparaiso National avg. Difference
      Haircut $33.69$24.2638.9%
      Beauty Salon $53.44$45.5617.3%
      Toothpaste $3.75$3.701.4%
      Shampoo $1.27$1.281.1%
      Movie $17.91$12.1347.6%
      Bowling $24.58$18.0036.6%

      Groceries

      Item Valparaiso National avg. Difference
      Ground Beef $5.28$5.849.5%
      Fried Chicken $1.42$1.579.7%
      Milk $4.87$4.674.3%
      Potatoes $4.90$4.930.7%
      Pizza $13.41$12.0910.9%
      Beer $10.00$10.414.0%

      Health Care

      Item Valparaiso National avg. Difference
      Optometrist $118.27$125.685.9%
      Doctor $167.67$135.7823.5%
      Dentist $128.22$113.2913.2%
      Ibuprofen $10.97$10.652.9%
      Lipitor $382.34$468.6018.4%

      Housing

      Item Valparaiso National avg. Difference
      Home Price $188,400.00$184,700.002.0%
      Avg. Mortgage Payment $2,578.06$2,346.699.9%
      Apartment Rent $937.00$949.001.3%

      Transportation

      Item Valparaiso National avg. Difference
      Gasoline $3.56$3.462.7%
      Tire Balancing $70.87$59.9218.3%

      Utilities

      Item Valparaiso National avg. Difference
      All Electricity $148.58$193.9923.4%
      Phone $210.03$192.259.3%
      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.
      Wheeler, IN2291043.9%
      Hanna, IN1988217.5%
      Lake Station, IN11,952918.6%
      New Chicago, IN1,846918.6%
      Town of Pines, IN7478416.2%
      Valparaiso, IN33,7071033.0%

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      Midvale, UT33,70811615.6%
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      University Place, WA33,66113636.2%
      Pointe-Claire, QC33,658n/a 
      Franklin Town, MA33,64413939.2%
      Valparaiso, IN33,7071033.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.