There are so many things to love about the small, friendly community of Crown Point. With a population of about 34,000, many consider this charming Indiana town one of the best places to live in the state, and for a good reason. While less than an hour’s drive away from most major Chicago neighborhoods, it maintains a tight-knit community feel and provides its residents with plenty of amenities.
If you’re considering relocating your family, you’ll love Crown Point. It’s a wonderful place to raise a child. And while much more affordable than nearby Chicago, it’ll still give you access to many businesses, events, and family-friendly activities, including plenty of opportunities to enjoy the outdoors with the family. So, how expensive is it to live in Crown Point, Indiana? Well, Steiner Homes has broken down the costs for you. Read below to learn more and see if this beautiful community is the place for you.
How Much Does Housing Cost in Crown Point?
Lake County Court House Crown Point, IN by jaygannett is licensed with CC BY-SA 2.0
The most basic expense to consider for any individual or family is housing. Whether it’s a mortgage or the cost of rent, paying for a place to live tends to take out a big chunk of the monthly budget. So, what are the housing costs in Crown Point?
If you’re renting in town, the average cost of rent plus utilities is relatively affordable for one person at around $1,036 per month. Considering the area’s average monthly salary after tax is $3,710, it’s a great bargain for most.
Have you ever been told that you should only spend about 30% of your salary on rent? Well, in Crown Point, when comparing the average individual rent to the post-tax salary in town, rent comes out to just under 28%. Since many places in the United States have skyrocketing rental prices, where housing costs often take up half of a person’s salary, under 28% is a pretty good deal.
What if you’re a family searching for housing? Well, an average family will spend about $1,759 on rent and utilities in town. Assuming the household has a two-person income, it’s an even better deal for families seeking to live in Crown Point.
As far as buying a home, many local two-, three-, and four-bedroom houses sell for between $220,000 and $450,000, with more luxurious, larger homes occupying the $600,000-$700,000 range. The median listing price in the area is $309,949, falling far below the U.S. national average of $392,000, and is lower than the cost for most urban housing near Chicago.
What Is the Cost of Buying Food?
Crown Point is home to many national and international supermarket chains. You’ll also find local sellers, such as the Little Market, specializing in Mexican food favorites, and the Indiana-founded chain of Strack & Van Til. There’s even a local farmers market if you want fresh produce for your family.
If you combine food shopping in local supermarkets with the occasional night out at a restaurant or a delivery night in, the average monthly food costs for an individual living in town come out to $549. Families pay a total amount closer to $1,421 but usually have more income to help cover these costs.
If you decide to eat out, an average dinner for two comes to approximately $60, while a quick bite off a lunch menu for one will be around $15. Of course, this will vary depending on whether you eat in a fancy restaurant or grab fast food.
Are Gas and Transportation Costs Affordable?
The best way to get around Crown Point is undoubtedly by car, which means you’ll have car payments and gas costs to consider. The average annual transportation costs for a single person in town come out to around $9,656. A family of four will find themselves paying closer to $13,753. So, whether you’re an individual or a family, you’ll find the costs below Indiana’s average.
What Are the Health and Childcare Costs for Families?
If you have a family and are considering moving to Crown Point, you no doubt want to know more about the specific costs associated with having children in the area, including daycare, schooling, doctor’s visits, and other necessities. You may also want to factor in the cost of getting fit at a local gym and outdoor activities to help your kids stay active.
The median cost of enrolling your child in preschool or arranging for daycare comes out to around $942 per month in Crown Point. If you’re considering enrolling your children in an international primary school in the area, costs will be significantly more expensive.
An average doctor’s visit comes out to approximately $110, though there’s a lot of variation depending on which doctor’s office you visit and if you need to see a specialist. In general, out-of-pocket healthcare costs and insurance premiums are lower in the Crown Point area than in the rest of the state and much lower than the average costs for a U.S. family.
For example, a single person living in Crown Point can expect to spend approximately $3,558 on healthcare per year, barring any major healthcare problems or crises during the year. In comparison, an average person in Indiana may spend nearly $3,836 per year on healthcare. In contrast, the average person in the U.S. will spend around $4,266 per year on their health.
If you want to look after your health and enjoy hitting the gym, you may want to look into a gym membership, which comes to around $38.10 per month in the area.
We here at Steiner Homes firmly believe that Crown Point is one of the best places to live in all of Indiana, both for its affordable costs and the happy community you’ll find here. If you think a move to Crown Point may be in your future and you’re dreaming of owning your own home, contact us at Steiner Homes to learn more about our stunning custom homes in lovely Crown Point neighborhoods.
