Cost of Living in Inkom, ID

With a cost of living index of 83, Inkom, ID is a very affordable place to live. Living here is 17% cheaper than the national average and 4% below the Idaho state average of 87. Inkom is a small community of 810 residents.

Housing costs are the biggest factor in Inkom's cost of living. The median monthly rent is $1,036 (21% below the US median of $1,319), and the median home value sits at $250,500 (18% below the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Inkom is $81,528, which is 8% higher than the national median of $75,149. Residents spend roughly 15% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Everyday prices in the Pocatello, ID (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.