Kokomo, IN Cost Of Living

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

Cost Of Living In Kokomo, IN Summary

Cost of living in Kokomo 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 Kokomo 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 Kokomo is 77, with 100 being the average.

  • The cost of living index in Kokomo is 0.8x lower than the national average.

  • Kokomo ranks as the #10 cheapest in Indiana out of 124.

  • Kokomo ranks as the #78 cheapest out of 6,412 in the US.

  • The median home value in Kokomo is $96,400.

  • The median income in Kokomo is $51,450.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
77
Kokomo's Overall Cost Of Living
0.8x
Lower Than The National Average

What is the cost of living in Kokomo, IN?

According to the most recent data on the cost of living, Kokomo has an overall cost of living index of 77, which is 0.8x lower than the national index of 100.

Compared to Indiana, Kokomo has a cost of living index that's 0.8x lower than Indiana's index of 91.

The standard of living in Kokomo ranks as #10 most affordable out of the 124 places we measured in Indiana. By definition, that implies Kokomo ranks as the #114 most expensive place in the Hoosier State.

For more reading on life in Kokomo, check out:

10 out of 124
In Indiana
78 out of 6,412
In America

Kokomo Cost Of Living Vs. Indiana

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

  • The Services index in Kokomo is 87.

  • The Groceries index in Kokomo is 88.

  • The Health index in Kokomo is 99.

  • The Housing index in Kokomo is 53.

  • The Transportation index in Kokomo is 95.

  • The Utilities index in Kokomo is 97.

Living Expense Kokomo Indiana National Average
Overall 77 91 100
Services 87 94 100
Groceries 88 96 100
Health 99 101 100
Housing 53 77 100
Transportation 95 95 100
Utilities 97 106 100
For more reading on cost of living around Indiana, check out:
Kokomo Cost of Living Vs. IN

Kokomo, 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 Kokomo is $96,400.

  • The Median Rent in Kokomo is $788.

  • The Median Income in Kokomo is $51,450.

  • The Home Value To Income in Kokomo is 1.9x.

  • The Rent To Monthly Income in Kokomo is 0.18x.

Statistic Kokomo Indiana United States
Median Home Value $96,400 $158,500 $244,900
Median Rent $788 $891 $1,163
Median Income $51,450 $61,944 $69,021
Home Value To Income 1.9x 2.6x 3.5x
Rent To Monthly Income 0.18x 0.17x 0.2x
Search Homes For Sale In Kokomo, IN
$96,400
Median Home Value
$788
Median Rent
$51,450
Median Income

Kokomo, IN Costs By Category

Detailed Kokomo Services Costs Vs. Indiana

Item Kokomo Indiana
Shampoo $0.92 $1.06
Movie $5.99 $10.68
Bowling $10.0 $14.67
Haircut $16.99 $18.62
Beauty Salon $26.66 $39.05

Detailed Kokomo Groceries Costs Vs. Indiana

Item Kokomo Indiana
Ground Beef $3.5 $4.22
Fried Chicken $1.42 $1.39
Milk $1.12 $2.05
Potatoes $2.8 $3.29
Pizza $9.99 $10.62
Beer $8.71 $9.38
Toothpaste $2.37 $2.34

Detailed Kokomo Health Costs Vs. Indiana

Item Kokomo Indiana
Optometrist $138.0 $108.57
Doctor $112.78 $116.17
Dentist $95.67 $99.13

Detailed Kokomo Transportation Costs Vs. Indiana

Item Kokomo Indiana
Gasoline $2.22 $2.22
Tire Balancing $40.73 $50.07

Detailed Kokomo Utilities Costs Vs. Indiana

Item Kokomo Indiana
All Electricity $156.13 $167.67
Phone $184.27 $175.64

Kokomo SnackAbility

6
/10
Overall SnackAbility
Jobs
6/10
Housing
5
Affordability
8.5
Diversity
8
Safety
4
Amenities
9
Education
6
Commute
9

Cost Of Living In Cities Around Kokomo

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

  • Carmel, IN has a cost of living index of 114, 1.5x Kokomo.

  • Noblesville, IN has a cost of living index of 98, 1.3x Kokomo.

  • Lawrence, IN has a cost of living index of 87, 1.1x Kokomo.

City Population Cost Of Living Vs. Kokomo
Carmel, IN 98,137 114 1.5x
Noblesville, IN 68,885 98 1.3x
Lawrence, IN 49,048 87 1.1x
Westfield, IN 45,695 103 1.3x
West Lafayette, IN 44,515 99 1.3x
Zionsville, IN 30,258 118 1.5x
Brownsburg, IN 28,420 95 1.2x
Middletown, KY 9,473 103 1.3x
Cumberland, IN 5,860 93 1.2x

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