Cost Of Living in Silver Springs, NV

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	Silver Springs	Nevada	National
Cost of living	98	100	100
Goods & Services	99	92	100
Groceries	101	103	100
Health care	95	92	100
Housing	91	104	100
Transportation	122	117	100
Utilities	92	99	100

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Cost Of Living Quick Facts

The cost of living in Silver Springs is 1% lower than the Nevada average
The cost of living in Silver Springs is 2% lower than the national average
Silver Springs housing is 9% lower than the national average
Nevada general sales tax is 34% higher than the national average
Nevada state income tax is 100% lower than the national average

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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	$43,740	$3,645	$1,021	$1,312
Renters	$29,702	$2,475	$693	$891

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Silver Springs, NV, 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 Silver Springs homeowners, is $43,740. This would allow for a maximum of $1,021 per month to be spent on housing costs. For renters, the median monthly income is $29,702 which would result in a maximum of $693 to be spent on rental costs.

Nevada Sales Tax

State	General Sales Tax	With Max Surtax
Nevada	6.85%	8.25%

Nevada Income Tax

State	Income Tax (Low)	Income Tax (High)
Nevada	0%	0%

Goods & Services

Item	Silver Springs	National avg.	Difference
Haircut	$25.78	$24.26	6.2%
Beauty Salon	$42.67	$45.56	6.4%
Toothpaste	$3.72	$3.70	0.4%
Shampoo	$1.37	$1.28	6.7%
Movie	$11.00	$12.13	9.3%
Bowling	$21.95	$18.00	21.9%

Groceries

Item	Silver Springs	National avg.	Difference
Ground Beef	$5.87	$5.84	0.5%
Fried Chicken	$1.87	$1.57	18.7%
Milk	$4.60	$4.67	1.6%
Potatoes	$4.57	$4.93	7.4%
Pizza	$12.67	$12.09	4.9%
Beer	$9.41	$10.41	9.6%

Health Care

Item	Silver Springs	National avg.	Difference
Optometrist	$115.11	$125.68	8.4%
Doctor	$129.11	$135.78	4.9%
Dentist	$118.11	$113.29	4.3%
Ibuprofen	$10.85	$10.65	1.8%
Lipitor	$349.59	$468.60	25.4%

Housing

Item	Silver Springs	National avg.	Difference
Home Price	$153,200.00	$184,700.00	17.1%
Avg. Mortgage Payment	$2,701.18	$2,346.69	15.1%
Apartment Rent	$1,054.00	$949.00	11.1%

Transportation

Item	Silver Springs	National avg.	Difference
Gasoline	$4.40	$3.46	27.1%
Tire Balancing	$66.55	$59.92	11.1%

Utilities

Item	Silver Springs	National avg.	Difference
All Electricity	$171.07	$193.99	11.8%
Phone	$185.80	$192.25	3.4%

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.
Wadsworth, NV	787	85	14.7%
Stagecoach, NV	2,436	104	4.3%
Fernley, NV	20,616	111	11.4%
Silver Springs, NV	4,910	98	1.5%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Eagar, AZ	4,910	102	2.0%
Ford City, CA	4,909	104	4.4%
Demarest, NJ	4,911	198	97.7%
Northvale, NJ	4,911	148	48.1%
Pascoag, RI	4,911	111	11.2%
Silver Springs, NV	4,910	98	1.5%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Silver Springs, NV