Cost of Living in Hailey, ID

With a cost of living index of 116, Hailey, ID is a notably expensive place to live. Living here is 16% more expensive than the national average and 29% above the Idaho state average of 87. Hailey is a smaller community of 9,439 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Hailey's cost of living. The median monthly rent is $1,196 (9% below the US median of $1,319), and the median home value sits at $574,500 (88% above the national median of $304,900). At current prices, the median home costs roughly 6.9x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Hailey is $83,084, which is 11% higher than the national median of $75,149. Residents spend roughly 17% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they do not fully offset the higher cost of living.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.