Updated · 2026 tax rules · Data: IRS, BLS, BEA, HUD · How we calculate

Cost of Living in Kokomo, IN

Kokomo, IN — prices, rents and what jobs really pay here after taxes.

Price level
89.6
U.S. average = 100 · #296 of 387
Median wage
$48,980
all jobs · $3,343/mo take-home
1-bedroom rent
$890
HUD fair market rent
▲3.5%
Pay trend: The median for all workers in Kokomo, IN rose from $47,310 (May 2024) to $48,980 (May 2025). That beat inflation (2.4%), a real raise of about 1.1%.

Salary comparison calculator

What would you need to earn in Kokomo, IN to keep the same lifestyle — after taxes — as in another city?

Cost of living calculator

Uses BEA price levels plus 2026 federal and state taxes in each city's state.

Salary needed to keep your lifestyle
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    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

    CategoryIndex (U.S. = 100)Difference
    All items89.6−10.4%
    Housing59.3−40.7%
    Goods94.3−5.7%
    Utilities86.3−13.7%
    Other services99.1−0.9%

    Source: BEA Regional Price Parities, 2024.

    Rent in Kokomo, IN

    UnitMonthly rentIncome 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. cityEquivalent in Kokomo, INTake-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

    Paycheck in Kokomo, IN
    Deductions, kids & local tax

    2026 tax year. Federal brackets from IRS Rev. Proc. 2025-32.

    Your take-home pay
    $40,120
    per year · effective tax rate 18.1%
    $3,343Monthly
    $1,672Twice a month
    $1,543Every 2 weeks
    $19.29Hourly
    • 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 areaMedian payPrice level1-BR rentRent shareLeft after rent / moBuying power*
    Chicago, IL$54,720103.6$1,53441%$2,180$43,016
    Indianapolis, IN$49,34095.7$1,24237%$2,125$42,216
    Cincinnati, OH$50,17095.4$1,04330%$2,377$43,034
    Louisville, KY$48,37093.1$1,02631%$2,278$42,598
    Fort Wayne, IN$47,70092.6$90628%$2,355$42,269
    Evansville, IN$46,54091.5$86027%$2,326$41,770
    South Bend, IN$46,54092.9$1,07334%$2,113$41,172
    Elkhart, IN$48,07090.3$99230%$2,293$43,638
    Lafayette, IN$48,78093.4$99930%$2,331$42,776
    Bloomington, IN$47,66095.1$1,03632%$2,222$41,120
    Terre Haute, IN$44,87087.8$85428%$2,224$42,073
    Columbus, IN$48,47093.0$1,25738%$2,053$42,714
    Muncie, IN$44,11088.1$84528%$2,184$41,238
    Michigan City, IN$45,54091.7$95331%$2,168$40,856
    Kokomo, IN$48,98089.6$89027%$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 areaPrice level1-BR rentMedian wageJobs
    Kokomo, IN89.6$890$48,98035,500
    Homosassa Springs, FL93.5$988$41,36035,580
    Weirton, WV89.0$757$45,84036,220
    Parkersburg, WV87.1$745$42,00036,280
    Fairbanks, AK103.2$1,277$61,81036,430
    Sumter, SC88.0$972$42,89034,560
    Great Falls, MT96.8$979$46,51036,510

    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.

    Other cities in Indiana

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