Cost of Living in Shoals, IN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
68.1
100 = national avg
-31.9 vs national average
Living Wage (1 Adult)
$29,943
per year
Living Wage (Family of 4)
$70,774
per year
Cost Index by Category
Housing54.3
Food83.1
Transportation66.2
Healthcare86.5
Utilities80.7
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$729
per month
2 Bedroom
$956
per month
The overall cost of living index in Shoals is 68.1, which is 31.9% below the national average. Housing costs are below the national average at an index of 54.3. A single adult needs to earn approximately $29,943 per year to cover basic expenses.