B-
12%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
45%
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 Westfield Indiana National
Cost of living11290100
Goods & Services9694100
Groceries10098100
Health care8996100
Housing14572100
Transportation9695100
Utilities104107100

An Overview of Cost of Living in Westfield, IN

Knowing the cost of living in Westfield allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Westfield stands at 112, marking it 12% higher than the national average.

Housing costs make up a big chunk of the cost of living in Westfield, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 44.6% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.

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

Locals have the inside scoop on their city. So, we polled 5 residents in Westfield 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 Westfield Affordable?

Is Westfield an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Westfield, the median home price is 52.4% higher than what most folks pay across the country, and monthly rent prices are 26.4% higher than the usual rates. Income levels in Westfield come in at $99,855, which is 80.5% higher than the national average.

What Factors can Influence the Cost of Living in Westfield?

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Westfield, healthcare costs are 10.9% lower than the national average.

Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Westfield, the transportation index is 4.1% lower than the national average.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Westfield, the groceries index registers 0.1% higher than the national average.

Where is the Data From?

The Westfield 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 Westfield is 24% higher than the Indiana average
  • The cost of living in Westfield is 12% higher than the national average
  • Westfield housing is 45% 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 Westfield

See all the best places to live around Westfield

Compare Westfield, 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$110,024$9,169$2,567$3,301
      Renters$56,944$4,745$1,329$1,708
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Westfield, IN, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Westfield homeowners, is $110,024. This would allow for a maximum of $2,567 per month to be spent on housing costs. For renters, the median monthly income is $56,944 which would result in a maximum of $1,329 to be spent on rental costs.

      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 Westfield National avg. Difference
      Haircut $19.53$24.2619.5%
      Beauty Salon $39.03$45.5614.3%
      Toothpaste $3.67$3.700.9%
      Shampoo $1.33$1.284.1%
      Movie $10.91$12.1310.1%
      Bowling $18.70$18.003.9%

      Groceries

      Item Westfield National avg. Difference
      Ground Beef $5.91$5.841.3%
      Fried Chicken $1.61$1.572.4%
      Milk $4.73$4.671.3%
      Potatoes $5.07$4.932.7%
      Pizza $12.39$12.092.5%
      Beer $10.30$10.411.1%

      Health Care

      Item Westfield National avg. Difference
      Optometrist $73.37$125.6841.6%
      Doctor $99.19$135.7826.9%
      Dentist $109.26$113.293.6%
      Ibuprofen $10.70$10.650.4%
      Lipitor $509.36$468.608.7%

      Housing

      Item Westfield National avg. Difference
      Home Price $281,400.00$184,700.0052.4%
      Avg. Mortgage Payment $1,794.91$2,346.6923.5%
      Apartment Rent $1,200.00$949.0026.4%

      Transportation

      Item Westfield National avg. Difference
      Gasoline $3.39$3.462.2%
      Tire Balancing $54.63$59.928.8%

      Utilities

      Item Westfield National avg. Difference
      All Electricity $207.03$193.996.7%
      Phone $190.02$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.
      Kirklin, IN1,1258118.9%
      Atlanta, IN8598514.7%
      Arcadia, IN1,5308614.3%
      Sheridan, IN3,4548812.4%
      Clermont, IN1,365918.9%
      Westfield, IN41,65211211.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      La Quinta, CA41,65013939.2%
      Oakley, CA41,65615050.2%
      Mableton, GA41,6471043.7%
      Huntsville, TX41,664946.1%
      Puyallup, WA41,66613333.2%
      Westfield, IN41,65211211.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.