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It Practically Pays to Live Here!
A Full Life Costs Less in the Evansville Region
The Evansville Region is 18% less expensive than the national average.
Here in the Magical Midwest, we value hard work; but we value family life and personal time, too. Residents of the Evansville Region have a little more wiggle room for fun because, compared to most other major U.S. cities, it costs less to live here!
That means more money in your pocket for leisure, and less spent on things like housing, transportation, and food. (Maybe you’ll even have cash left over to take that roadtrip!) Let’s take a closer look at how the we stack up against other popular cities.
How far does $100 go?
Despite a recent rise in the cost of living in America, the Evansville Region remains a super affordable place to live! Based on a study done by the Economic Research Institute, Evansville itself is 18% less expensive than the national average. This number takes into account the cost of food, transportation, health services, rent, utilities, taxes, and other miscellaneous expenses.
When you travel, you undoubtedly notice changes in the price of everything. The Bureau of Economic Analysis released data that helps us compare the value of $100, city by city in the United States. In other words, it shows us how much $100 can buy.
The Evansville Metro area scored 110.75, which means the value of $100 stretches further in this area than some others. Out of the sampling of cities below, $100 in Washington D.C. has the least value, and $100 in the Evansville Metro has the most value.
- Evansville Metro $110.75
- Nashville $104.68
- Philadelphia $100.80
- Chicago $94.86
How much money can I make here?
So, how much are people making in the Evansville Region? We collected information from FRED Economic Data to find out the average hourly earnings people made in December 2023 in the five areas we are focusing on.
- Evansville Region: $28.69/hour
- Nashville: $32.41/hour
- Philadelphia: $33.92/hour
- Chicago: $34.23/hour
Employees in the Evansville Region are making an average of $28.69 per hour. As you look at the disparities between housing, transportation, and food costs, you’ll find the average hourly rate in the Evansville Region stretches a lot further!
And, real quick, can we talk about the job opportunities here? The Evansville Region is home to several major national and global employers like Berry Global, Toyota, Deaconess Health Systems, Ascension St. Vincent, Reckitt, and more!
How much does it cost to buy or rent?
If you’re moving to a new city, you’ve got to have somewhere to live. We pulled data from December 2023 to find the average listing price of a home per square foot in the Evansville Region versus other areas.
- Evansville Region: $138
- Nashville: $260
- Philadelphia: $214
- Chicago: $200
As you can see, the Evansville Region is paying a lot less per square foot. For some, this could mean a starter home is finally affordable or could mean a home upgrade is now within budget!
Planning to rent? Here’s what you can expect to pay per month, on average, to rent a two bedroom apartment.
- Evansville Region: $1,041
- Nashville: $1,919
- Philadelphia: $1,894
- Chicago: $2,388
Compared to Nashville, for example, you can expect to spend about $23,028 per year to rent a two bedroom apartment. In the Evansville Region, plan to pay around $12,492 per year. The difference is huge!
You gotta eat! How much are basic groceries?
While the Evansville Region does have a long list of awesome restaurants, sometimes you just have to cook at home. We took a look at the average cost of basic pantry staples to see how our prices compare.
1 Bag of Potato Chips
- Evansville Region: $3.25
- Nashville: $3.56
- Philadelphia: $4.14
- Chicago: $3.51
Based on the price of a bag of chips, you can afford to host more parties here in the Evansville Region!
1 Loaf of Bread
- Evansville Region: $3.17
- Nashville: $4.00
- Philadelphia: $4.34
- Chicago: $3.99
Bread is perhaps one of the most used grocery products, especially if you have kids (hello, PB&J)! So, its good to know that the price of a loaf of bread in the Evansville Region keeps some change in your pocket.
1 Gallon of Milk
- Evansville Region: $2.66
- Nashville: $2.91
- Philadelphia: $3.10
- Chicago: $2.94
Milk is essential to families and businesses like bakeries, restaurants, and coffee shops. Just a few cents saved here and there makes a big difference.
Overall, we found that grocery prices in the Evansville Region are 6% lower than the national average. That adds up! Bag that extra cash to to eat out more often, or save it to reach other goals.
Come for the low prices, stay for the culture!
Its time to make a move! Whether you're an established family, a recent college grad, or a young professional, the Evansville Region can offer you a high quality of life, for less money. What's sweeter than that?
You + More Money = More Opportunity!
