Greenwood, IN Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Greenwood, IN Summary

Cost of living in Greenwood research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Greenwood is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Indiana, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Greenwood is 92, with 100 being the average.

  • The cost of living index in Greenwood is 0.9x lower than the national average.

  • Greenwood ranks as the #83 cheapest in Indiana out of 124.

  • Greenwood ranks as the #1,974 cheapest out of 6,412 in the US.

  • The median home value in Greenwood is $181,700.

  • The median income in Greenwood is $71,159.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
92
Greenwood's Overall Cost Of Living
0.9x
Lower Than The National Average

What is the cost of living in Greenwood, IN?

According to the most recent data on the cost of living, Greenwood has an overall cost of living index of 92, which is 0.9x lower than the national index of 100.

Compared to Indiana, Greenwood has a cost of living index that's 1.0x higher than Indiana's index of 91.

The standard of living in Greenwood ranks as #83 most affordable out of the 124 places we measured in Indiana. By definition, that implies Greenwood ranks as the #41 most expensive place in the Hoosier State.

For more reading on life in Greenwood, check out:

83 out of 124
In Indiana
1,974 out of 6,412
In America

Greenwood Cost Of Living Vs. Indiana

Six factors go into calculating the cost of living index in Greenwood. Here is how it fairs on each of the criteria:

  • The Services index in Greenwood is 97.

  • The Groceries index in Greenwood is 93.

  • The Health index in Greenwood is 86.

  • The Housing index in Greenwood is 81.

  • The Transportation index in Greenwood is 94.

  • The Utilities index in Greenwood is 104.

Living Expense Greenwood Indiana National Average
Overall 92 91 100
Services 97 94 100
Groceries 93 96 100
Health 86 101 100
Housing 81 77 100
Transportation 94 95 100
Utilities 104 106 100
For more reading on cost of living around Indiana, check out:
Greenwood Cost of Living Vs. IN

Greenwood, IN Housing Cost Breakdown

Housing swings affordability the most between places in Indiana, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Greenwood is $181,700.

  • The Median Rent in Greenwood is $1,103.

  • The Median Income in Greenwood is $71,159.

  • The Home Value To Income in Greenwood is 2.6x.

  • The Rent To Monthly Income in Greenwood is 0.19x.

Statistic Greenwood Indiana United States
Median Home Value $181,700 $158,500 $244,900
Median Rent $1,103 $891 $1,163
Median Income $71,159 $61,944 $69,021
Home Value To Income 2.6x 2.6x 3.5x
Rent To Monthly Income 0.19x 0.17x 0.2x
Search Homes For Sale In Greenwood, IN
$181,700
Median Home Value
$1,103
Median Rent
$71,159
Median Income

Greenwood, IN Costs By Category

Detailed Greenwood Services Costs Vs. Indiana

Item Greenwood Indiana
Shampoo $1.03 $1.06
Movie $11.27 $10.68
Bowling $16.9 $14.67
Haircut $17.8 $18.62
Beauty Salon $37.63 $39.05

Detailed Greenwood Groceries Costs Vs. Indiana

Item Greenwood Indiana
Ground Beef $4.16 $4.22
Fried Chicken $1.37 $1.39
Milk $1.68 $2.05
Potatoes $2.69 $3.29
Pizza $10.99 $10.62
Beer $8.71 $9.38
Toothpaste $2.02 $2.34

Detailed Greenwood Health Costs Vs. Indiana

Item Greenwood Indiana
Optometrist $65.9 $108.57
Doctor $88.25 $116.17
Dentist $92.92 $99.13

Detailed Greenwood Transportation Costs Vs. Indiana

Item Greenwood Indiana
Gasoline $2.12 $2.22
Tire Balancing $40.89 $50.07

Detailed Greenwood Utilities Costs Vs. Indiana

Item Greenwood Indiana
All Electricity $171.81 $167.67
Phone $184.27 $175.64

Greenwood SnackAbility

8.5
/10
Overall SnackAbility
Jobs
8.5/10
Housing
8
Affordability
8
Diversity
8
Safety
7
Amenities
9
Education
8
Commute
7

Cost Of Living In Cities Around Greenwood

The cost of living varies in the cities and towns around Greenwood. Here's a quick look at the cost of living in the most populous nearby places:

  • Indianapolis, IN has a cost of living index of 88, 1.0x Greenwood.

  • Lawrence, IN has a cost of living index of 87, 0.9x Greenwood.

  • Franklin, IN has a cost of living index of 90, 1.0x Greenwood.

City Population Cost Of Living Vs. Greenwood
Indianapolis, IN 880,104 88 1.0x
Lawrence, IN 49,048 87 0.9x
Franklin, IN 25,112 90 1.0x
Avon, IN 20,848 99 1.1x
Beech Grove, IN 15,202 86 0.9x
Mooresville, IN 9,429 89 1.0x
Bargersville, IN 9,024 93 1.0x
Cumberland, IN 5,860 93 1.0x
New Whiteland, IN 5,565 91 1.0x

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