Cost of Living in Indianapolis city (balance), IN
Population 882,043 · Indiana · Data vintage 2023
(100 = US avg)
With a population over half a million, Indianapolis city (balance) functions as the economic anchor for a much larger metropolitan region.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Indianapolis city (balance)
The median home value in Indianapolis city (balance) is $207,000 — 32% below the national median of $305,000. Median rent runs $1,112/month, 15% lower than the national median of $1,314/month. The median household income of $62,995/year is 16% lower than the US median of $74,580. The local unemployment rate is 5.2%, above 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, Indianapolis city (balance) has a cost of living index of 75 versus the US average of 100, meaning it is 25% 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
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Indianapolis city (balance), IN?
Indianapolis city (balance) has a cost index of 75 (100 = national average). It is 25% below the national average.
What is average rent in Indianapolis city (balance), IN?
The median gross rent in Indianapolis city (balance) is $1,112 per month based on 2023 Census data.
What is the average home price in Indianapolis city (balance)?
The median home value in Indianapolis city (balance) is $207,000 according to 2023 Census ACS data.
What is the median income in Indianapolis city (balance)?
The median household income in Indianapolis city (balance) is $62,995 per year (2023 ACS 5-year estimates).
What is the sales tax in Indianapolis city (balance), IN?
The combined state and local sales tax rate in Indianapolis city (balance) is 7.0%. The Indiana state income tax top rate is 3.0%.
Is Indianapolis city (balance), IN affordable?
Yes, Indianapolis city (balance) is generally considered affordable, with a cost of living index of 75 — about 25% below the US national average of 100.
Indianapolis city (balance) at a Glance
- Population
- 882,043
- Median Income
- $62,995
- Home Value
- $207,000
- Median Rent
- $1,112/mo
- Unemployment
- 5.2%
- Sales Tax
- 7.0%
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Indiana Rankings
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