Salary & Cost of Living in Elkhart, IN
Elkhart, IN: $43,347 median salary, cost of living index 89.6, $7.25/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$43,347
$21/hr
Cost of Living
89.6
US avg = 100
Minimum Wage
$7.25
per hour
Unemployment
3.3%
rate
Elkhart, IN Overview
Population
53,923
Median Salary
$43,347
Average Salary
$48,549
Avg Commute
18 min
Median Home Price
$233,000
Median Rent
$959/mo
Job Growth
+2.4%
Sales Tax
7%
Elkhart is located in Indiana with a population of 53,923. The median household salary is $43,347 per year ($21/hour), which is $16,037 below the national median of $59,384. The average commute time is 18 minutes, and the city has a job growth rate of +2.4%.
Elkhart Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Elkhart, IN, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$35,091
$2,924.22/month · $1,349.64/biweekly · Effective Rate: 19.0%
Gross Pay
$43,347
Federal Tax
-$3,163
State Tax
-$1,322
Local Tax
-$455
FICA
-$3,316
Net Pay
$35,091
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $3,612.25 | $43,347.00 |
| Federal Income Tax | -$263.59 | -$3,163.14 |
| Indiana State Tax (3.05%) | -$110.17 | -$1,322.08 |
| Local Tax (1.05%) | -$37.93 | -$455.14 |
| Social Security (6.2%) | -$223.96 | -$2,687.51 |
| Medicare (1.45%) | -$52.38 | -$628.53 |
| Net Take-Home Pay | $2,924.22 | $35,090.59 |
Salary Comparison: Elkhart vs Other Cities
See how Elkhart's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Elkhart, IN | $43,347 | 89.6 | $48,378 |
| National Average | $59,384 | 100 | $59,384 |
| Hickory, NC | $43,332 | 88.5 | $48,963 |
| Opelika, AL | $43,311 | 77.9 | $55,598 |
| Lauderdale Lakes, FL | $43,406 | 102.8 | $42,224 |
| Huber Heights, OH | $43,408 | 89.3 | $48,609 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Elkhart
Elkhart's cost of living index is 89.6 (national average = 100). Living in Elkhart is 10.400000000000006% less expensive than the national average.
Median Home Price
$233,000
Median Monthly Rent
$959
Annual Rent Cost
$11,508
Your Salary's Purchasing Power
Your $35,091 annual take-home pay in Elkhart has the purchasing power of approximately $39,164 in an average-cost US area. Your $43,347 salary stretches further here than in most US cities.
Top Industries in Elkhart
Elkhart's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $43,347.
Salary Tips for Elkhart Workers
- Your salary goes further here. Elkhart has a cost of living 10.400000000000006% below the national average. A salary of $43,347 here has the purchasing power of about $48,378 in an average-cost area.
- Research top industries. Elkhart's top industries include Manufacturing, Logistics, Life Sciences. Targeting roles in these sectors can help you earn above the $43,347 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
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Frequently Asked Questions
What is the median salary in Elkhart, IN?
The median salary in Elkhart, IN is $43,347 per year, or $21 per hour. The average salary is $48,549. This is $16,037 below the national median of $59,384.
What is the cost of living in Elkhart, IN?
Elkhart's cost of living index is 89.6 (national average = 100), meaning it is 10.400000000000006% less expensive compared to the national average. The median home price is $233,000 and the median monthly rent is $959.
What are the best industries in Elkhart?
The top industries in Elkhart, IN include Manufacturing, Logistics, Life Sciences. The city has a job growth rate of 2.4% and an unemployment rate of 3.3%. Workers in these industries often earn above the city's median salary of $43,347.
How does Elkhart's salary compare to other cities?
Elkhart's median salary of $43,347 is 27.0% below the national median of $59,384. However, when adjusted for cost of living (index: 89.6), the real purchasing power is approximately $48,378.
What is the minimum wage in Elkhart, IN?
The minimum wage in Elkhart, IN is $7.25 per hour. This equals approximately $15,080 per year for a full-time worker (40 hours/week). This matches the federal minimum wage of $7.25/hour.