Cost of Living in Greenwood, IN
Population 64,237 · Indiana · Data vintage 2023
(100 = US avg)
Most of Greenwood's cost indicators track within a reasonable band of national figures, with median household incomes near $78,765 — a more representative starting point for relocation math than the headline-expensive or headline-cheap cities on either tail. The labor market has been unusually tight, with unemployment around 2.5% — below most comparable cities in the state.
Greenwood sits roughly 12 miles south of Indianapolis city (balance) — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 20% higher than Indianapolis city (balance)'s $207,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Greenwood
The median home value in Greenwood is $248,700 — 18% below the national median of $305,000. Median rent runs $1,252/month, 5% lower than the national median of $1,314/month. The median household income of $78,765/year is 6% higher than the US median of $74,580. The local unemployment rate is 2.5%, 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, Greenwood has a cost of living index of 87 versus the US average of 100, meaning it is 13% less 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
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Greenwood, IN?
Greenwood has a cost index of 87 (100 = national average). It is 13% below the national average.
What is average rent in Greenwood, IN?
The median gross rent in Greenwood is $1,252 per month based on 2023 Census data.
What is the average home price in Greenwood?
The median home value in Greenwood is $248,700 according to Zillow and Census data.
What is the median income in Greenwood?
The median household income in Greenwood is $78,765 per year (2023 ACS 5-year estimates).
What is the sales tax in Greenwood, IN?
The combined state and local sales tax rate in Greenwood is 7.0%. The Indiana state income tax top rate is 3.0%.
Is Greenwood, IN affordable?
Yes, Greenwood is generally considered affordable, with a cost of living index of 87 — about 13% below the US national average of 100.
Greenwood at a Glance
- Population
- 64,237
- Median Income
- $78,765
- Home Value
- $248,700
- Median Rent
- $1,252/mo
- Unemployment
- 2.5%
- Sales Tax
- 7.0%
Nearby Cities
Explore county-level cost of living data
Indiana Rankings
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