Cost of Living in New Richmond, IN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
103.7
100 = national avg
+3.7 vs national average
Living Wage (1 Adult)
$45,637
per year
Living Wage (Family of 4)
$107,869
per year
Cost Index by Category
Housing83.1
Food111.2
Transportation122.5
Healthcare109.0
Utilities103.3
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$807
per month
2 Bedroom
$966
per month
The overall cost of living index in New Richmond is 103.7, which is 3.7% above the national average. Housing costs are below the national average at an index of 83.1. A single adult needs to earn approximately $45,637 per year to cover basic expenses.