A+
14%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
44%
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 Washington Indiana National
Cost of living8690100
Goods & Services9994100
Groceries10198100
Health care9596100
Housing5672100
Transportation9695100
Utilities104107100

An Overview of Cost of Living in Washington, IN

Knowing the cost of living in Washington 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 Washington stands at 86, marking it 14% lower than the national average.

It's not uncommon for housing expenses to eat up a substantial portion of your income, oten exceeding 30%. The good news is that Washington stands out by reporting housing costs that are 43.9% lower than the national average. This signifies that both homeownership and rental expenses in this region are considerably more affordable compared to the rest of the country. This favorable housing situation allows residents to allocate a more manageable portion of their income to housing, resulting in greater financial flexibility.

Is Washington Affordable?

Is Washington 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 Washington, for instance, where the median home price falls 51.2% lower than the national average, and monthly rent rates are 27% lower than usual. Additionally, median income levels contribute to the equation, with Washington flaunting a median household income of $40,080, 27.6% lower than the national norm.

What Factors can Influence the Cost of Living in Washington?

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Washington, healthcare costs are 5.4% 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 Washington, the groceries index registers 1.4% higher than the national average.

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including 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 farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Where is the Data From?

The Washington 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 Washington is 4% lower than the Indiana average
  • The cost of living in Washington is 14% lower than the national average
  • Washington housing is 44% lower 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 Washington

See all the best places to live around Washington

Compare Washington, 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$61,127$5,094$1,426$1,834
      Renters$21,790$1,816$508$654
      The affordability of the housing market in Washington, IN as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Washington homeowners, the median income is $61,127. This indicates that a monthly maximum of $1,426 should be spent by homeowners on all housing related costs. Renters have a median income of $21,790. This indicates that renters would have a maximum of $508 for their rent related monthly 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 Washington National avg. Difference
      Haircut $26.42$24.268.9%
      Beauty Salon $47.57$45.564.4%
      Toothpaste $3.55$3.704.0%
      Shampoo $1.36$1.286.5%
      Movie $11.48$12.135.4%
      Bowling $16.61$18.007.7%

      Groceries

      Item Washington National avg. Difference
      Ground Beef $5.88$5.840.8%
      Fried Chicken $1.74$1.5710.8%
      Milk $4.78$4.672.4%
      Potatoes $5.01$4.931.6%
      Pizza $12.45$12.093.0%
      Beer $10.53$10.411.1%

      Health Care

      Item Washington National avg. Difference
      Optometrist $173.41$125.6838.0%
      Doctor $108.22$135.7820.3%
      Dentist $104.94$113.297.4%
      Ibuprofen $10.84$10.651.8%
      Lipitor $483.43$468.603.2%

      Housing

      Item Washington National avg. Difference
      Home Price $90,100.00$184,700.0051.2%
      Avg. Mortgage Payment $2,453.08$2,346.694.5%
      Apartment Rent $693.00$949.0027.0%

      Transportation

      Item Washington National avg. Difference
      Gasoline $3.56$3.462.9%
      Tire Balancing $47.16$59.9221.3%

      Utilities

      Item Washington National avg. Difference
      All Electricity $206.98$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.
      Ragsdale, IN2481032.6%
      Westphalia, IN501032.6%
      Alfordsville, IN35990.7%
      Raglesville, IN105990.7%
      Otwell, IN2457623.6%
      Washington, IN12,5148613.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Wells Branch, TX12,5121088.1%
      View Royal, BC12,511n/a 
      Fords, NJ12,50912726.9%
      Kincardine, ON12,522n/a 
      Conneaut, OH12,5248712.8%
      Washington, IN12,5148613.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.