Kokomo has the 498th largest population in the United States. The population shrank by 0.1% from 2010 to 2015, which was slower than the national average. Unemployment in the Kokomo area is 4%, which is higher than the national average, and is getting better. Kokomo has the 328th largest local economy in the US, and a low cost of living. The average pay for jobs in Kokomo is below average at $42,140, and the median cost of a home in Kokomo is $83,100, which is below the national average. 16% of workers in Kokomo hold a bachelors degree or higher (above average), and 87% of workers have a high school degree (above average). Driving to work is especially common in Kokomo. 85% of Kokomo workers drive to work alone, 0% take public transit, 7% carpool, and 5% walk. People in Kokomo spend an average of 19 minutes commuting to work, which is shorter than the national average of 26 minutes.