Cost of Living in Kokomo, IN
Kokomo, IN — prices, rents and what jobs really pay here after taxes.
Salary comparison calculator
What would you need to earn in Kokomo, IN to keep the same lifestyle — after taxes — as in another city?
How expensive is Kokomo, IN?
With a price level of 89.6 (U.S. average = 100), Kokomo, IN is one of the most affordable places in the country. In detail, housing costs are 41% below average; everyday goods are 6% below average; utilities are 14% below average; other services such as healthcare and dining cost about the same as the national average. The biggest difference from the national average is in housing.
Prices in Kokomo, IN vs. the U.S. average
| Category | Index (U.S. = 100) | Difference |
|---|---|---|
| All items | 89.6 | −10.4% |
| Housing | 59.3 | −40.7% |
| Goods | 94.3 | −5.7% |
| Utilities | 86.3 | −13.7% |
| Other services | 99.1 | −0.9% |
Source: BEA Regional Price Parities, 2024.
Rent in Kokomo, IN
| Unit | Monthly rent | Income needed (30% rule) |
|---|---|---|
| Studio | $884 | $35,360/yr |
| 1 bedroom | $890 | $35,600/yr |
| 2 bedrooms | $1,123 | $44,920/yr |
| 3 bedrooms | $1,388 | $55,520/yr |
| 4 bedrooms | $1,567 | $62,680/yr |
HUD Fair Market Rents, FY2026, population-weighted across the metro's counties.
Salary needed to live in Kokomo, IN
To keep the same standard of living as in an average-priced U.S. city, you would need to earn roughly:
| Salary in an average U.S. city | Equivalent in Kokomo, IN | Take-home here |
|---|---|---|
| $40,000 | $35,900 | $29,996 |
| $60,000 | $53,800 | $43,851 |
| $80,000 | $71,700 | $57,185 |
| $100,000 | $89,600 | $69,250 |
| $150,000 | $134,500 | $99,259 |
Scaled by the BEA price level (pre-tax). Take-home: single filer, Indiana 2026 taxes. For a tax-aware comparison with a specific city, use the calculator above.
A monthly budget on the median wage
A single worker earning Kokomo, IN's median wage of $48,980 takes home about $3,343 a month. A typical one-bedroom rents for $890, which is 27% of take-home pay — within the 30% guideline that financial planners suggest. That leaves about $2,453 a month for everything else.
Take-home pay in Kokomo, IN
- Federal income tax$3,698
- Social Security (6.2%)$3,037
- Medicare (1.45%)$710
- Indiana income tax$1,415
- Take-home pay$40,120
Marginal rate: 12% federal + 2.95% state
Pay and living costs in Indiana cities
Half of Indiana’s 3,201,220 workers earn less than $47,860 a year and half earn more; the middle 50% earn $36,500–$72,000 (BLS, May 2025). Prices vary a lot within the state: Kokomo, IN stretches a paycheck furthest, while Michigan City, IN is the costliest.
| Metro area | Median pay | Price level | 1-BR rent | Rent share | Left after rent / mo | Buying power* |
|---|---|---|---|---|---|---|
| Chicago, IL | $54,720 | 103.6 | $1,534 | 41% | $2,180 | $43,016 |
| Indianapolis, IN | $49,340 | 95.7 | $1,242 | 37% | $2,125 | $42,216 |
| Cincinnati, OH | $50,170 | 95.4 | $1,043 | 30% | $2,377 | $43,034 |
| Louisville, KY | $48,370 | 93.1 | $1,026 | 31% | $2,278 | $42,598 |
| Fort Wayne, IN | $47,700 | 92.6 | $906 | 28% | $2,355 | $42,269 |
| Evansville, IN | $46,540 | 91.5 | $860 | 27% | $2,326 | $41,770 |
| South Bend, IN | $46,540 | 92.9 | $1,073 | 34% | $2,113 | $41,172 |
| Elkhart, IN | $48,070 | 90.3 | $992 | 30% | $2,293 | $43,638 |
| Lafayette, IN | $48,780 | 93.4 | $999 | 30% | $2,331 | $42,776 |
| Bloomington, IN | $47,660 | 95.1 | $1,036 | 32% | $2,222 | $41,120 |
| Terre Haute, IN | $44,870 | 87.8 | $854 | 28% | $2,224 | $42,073 |
| Columbus, IN | $48,470 | 93.0 | $1,257 | 38% | $2,053 | $42,714 |
| Muncie, IN | $44,110 | 88.1 | $845 | 28% | $2,184 | $41,238 |
| Michigan City, IN | $45,540 | 91.7 | $953 | 31% | $2,168 | $40,856 |
| Kokomo, IN | $48,980 | 89.6 | $890 | 27% | $2,453 | $44,753 |
*Yearly take-home pay (on each metro’s median wage, single filer) in U.S.-average dollars. Price level: BEA RPP 2024 (U.S. = 100). Rent: HUD FY2026 one-bedroom fair market rent.
Kokomo, IN vs. similar-size cities
| Metro area | Price level | 1-BR rent | Median wage | Jobs |
|---|---|---|---|---|
| Kokomo, IN | 89.6 | $890 | $48,980 | 35,500 |
| Homosassa Springs, FL | 93.5 | $988 | $41,360 | 35,580 |
| Weirton, WV | 89.0 | $757 | $45,840 | 36,220 |
| Parkersburg, WV | 87.1 | $745 | $42,000 | 36,280 |
| Fairbanks, AK | 103.2 | $1,277 | $61,810 | 36,430 |
| Sumter, SC | 88.0 | $972 | $42,890 | 34,560 |
| Great Falls, MT | 96.8 | $979 | $46,510 | 36,510 |
Frequently asked questions
Is Kokomo, IN expensive to live in?
According to the Bureau of Economic Analysis, overall prices in the Kokomo, IN metro area are 89.6% of the U.S. average, with housing at 59.3%. It is the #296 most expensive of 387 metro areas we track.
What salary do you need to live in Kokomo, IN?
To match the buying power of a $60,000 salary in an average-priced U.S. city you would need about $53,789 in Kokomo, IN (before tax differences). The median wage across all jobs here is $48,980.
Can you afford Kokomo, IN on the median wage?
A single worker on the $48,980 median wage takes home about $3,343 a month after 2026 taxes; a one-bedroom at $890 would take 27% of that.
How much is rent in Kokomo, IN?
HUD’s FY2026 fair market rents for Kokomo, IN are $884 for a studio, $890 for one bedroom, $1,123 for two bedrooms and $1,388 for three bedrooms, including utilities.