Cost of Living in Kingman, IN

With a cost of living index of 63, Kingman, IN is one of the most affordable cities in the country. Living here is 37% cheaper than the national average and 15% below the Indiana state average of 78. Kingman is a small community of 575 residents.

Housing costs are the biggest factor in Kingman's cost of living. The median monthly rent is $712 (46% below the US median of $1,319), and the median home value sits at $105,100 (66% below 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 Kingman is $30,139, which is 60% lower than the national median of $75,149. Residents spend roughly 28% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. 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.