Cost of Living in Soda Springs, ID

With a cost of living index of 74, Soda Springs, ID is one of the most affordable cities in the country. Living here is 26% cheaper than the national average and 13% below the Idaho state average of 87. Soda Springs is a small community of 3,150 residents.

Housing costs are the biggest factor in Soda Springs's cost of living. The median monthly rent is $826 (37% below the US median of $1,319), and the median home value sits at $204,800 (33% below the national median of $304,900). At current prices, the median home costs roughly 4.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Soda Springs is $47,480, which is 37% lower than the national median of $75,149. Residents spend roughly 21% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

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.