Cost of Living in Carmel, IN
Population 100,501 · Indiana · Data vintage 2023
(100 = US avg)
The Carmel cost-of-living profile is closer to the US median than most headline-grabbing metros — typical homes around $456,000, rents near $1,607 a month. The labor market has been unusually tight, with unemployment around 2.7% — below most comparable cities in the state.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Carmel
The median home value in Carmel is $455,500 — 49% above the national median of $305,000. Median rent runs $1,607/month, 22% higher than the national median of $1,314/month. The median household income of $134,602/year is 80% higher than the US median of $74,580. The local unemployment rate is 2.7%, below the national average of 4.8%. Indiana's top state income tax rate is 3.0% and the combined sales tax is 7.0%. Overall, Carmel has a cost of living index of 139 versus the US average of 100, meaning it is 39% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Carmel, IN?
Carmel has a cost index of 139 (100 = national average). It is 39% above the national average.
What is average rent in Carmel, IN?
The median gross rent in Carmel is $1,607 per month based on 2023 Census data.
What is the average home price in Carmel?
The median home value in Carmel is $455,500 according to Zillow and Census data.
What is the median income in Carmel?
The median household income in Carmel is $134,602 per year (2023 ACS 5-year estimates).
What is the sales tax in Carmel, IN?
The combined state and local sales tax rate in Carmel is 7.0%. The Indiana state income tax top rate is 3.0%.
Is Carmel, IN affordable?
Carmel is above average in cost of living, with an index of 139 — about 39% higher than the national average.
Carmel at a Glance
- Population
- 100,501
- Median Income
- $134,602
- Home Value
- $455,500
- Median Rent
- $1,607/mo
- Unemployment
- 2.7%
- Sales Tax
- 7.0%
Nearby Cities
Explore county-level cost of living data
Indiana Rankings
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