Housing costs in New Richmond?
A typical home costs
$175,800, which is 48.0% less expensive than the national average of
$338,100 and 20.7% less expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in New Richmond costs
$1,200 per month, which is 16.1% cheaper than the national average of
$1,430 and 18.3% more than the state average of
$980.
Can I afford New Richmond?
To live comfortably in New Richmond (zip 47967), Indiana, a minimum annual income of
$33,840 for a family, and
$37,600 for a single person is recommended.
What does A.I. say about New Richmond?
The cost of living in 47967 New Richmond, IN is relatively low compared to other areas in the United States. The median home cost is around $111,000, which is below the national average, and the median rental price per month is approximately $600. The overall cost of living index for this area is 86.3, which is lower than the US average of 100. Groceries and healthcare are also relatively inexpensive in this area with grocery prices being 8% lower than the U.S. average and healthcare costs being 11% lower than the U.S. average as well.