Cost of Living in Aberdeen, IN

With a cost of living index of 115, Aberdeen, IN is somewhat more expensive than average. Living here is 15% more expensive than the national average and 37% above the Indiana state average of 78. Aberdeen is a small community of 1,761 residents.

Housing costs are the biggest factor in Aberdeen's cost of living. The median monthly rent is $1,669 (27% above the US median of $1,319), and the median home value sits at $344,500 (13% above the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Aberdeen is $97,344, which is 30% higher 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. While incomes are above average, they more than offset the higher cost of living.

Everyday prices in the Chicago-Naperville-Elgin, IL-IN (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher 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.