Indianapolis, IN Cost Of Living
Cost Of Living In Indianapolis, IN Summary
Cost of living in Indianapolis research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Indianapolis is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Indiana, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Indianapolis is 88, with 100 being the average.
The cost of living index in Indianapolis is 0.9x lower than the national average.
Indianapolis ranks as the #62 cheapest in Indiana out of 124.
Indianapolis ranks as the #1,278 cheapest out of 6,412 in the US.
The median home value in Indianapolis is $156,300.
The median income in Indianapolis is $54,321.
Table Of Contents
Indianapolis's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Indianapolis, IN?
According to the most recent data on the cost of living, Indianapolis has an overall cost of living index of 88, which is 0.9x lower than the national index of 100.
Compared to Indiana, Indianapolis has a cost of living index that's 1.0x lower than Indiana's index of 91.
The standard of living in Indianapolis ranks as #62 most affordable out of the 124 places we measured in Indiana. By definition, that implies Indianapolis ranks as the #62 most expensive place in the Hoosier State.
For more reading on life in Indianapolis, check out:
- Living In Indianapolis
- Indianapolis Crime Report
- Search Homes For Sale In Indianapolis, IN
In Indiana
In America
Indianapolis Cost Of Living Vs. Indiana
Six factors go into calculating the cost of living index in Indianapolis. Here is how it fairs on each of the criteria:
The Services index in Indianapolis is 97.
The Groceries index in Indianapolis is 95.
The Health index in Indianapolis is 86.
The Housing index in Indianapolis is 72.
The Transportation index in Indianapolis is 93.
The Utilities index in Indianapolis is 101.
| Living Expense | Indianapolis | Indiana | National Average | |
|---|---|---|---|---|
| Overall | 88 | 91 | 100 | |
| Services | 97 | 94 | 100 | |
| Groceries | 95 | 96 | 100 | |
| Health | 86 | 101 | 100 | |
| Housing | 72 | 77 | 100 | |
| Transportation | 93 | 95 | 100 | |
| Utilities | 101 | 106 | 100 | |
Indianapolis, IN Housing Cost Breakdown
Housing swings affordability the most between places in Indiana, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Indianapolis is $156,300.
The Median Rent in Indianapolis is $962.
The Median Income in Indianapolis is $54,321.
The Home Value To Income in Indianapolis is 2.9x.
The Rent To Monthly Income in Indianapolis is 0.21x.
| Statistic | Indianapolis | Indiana | United States |
|---|---|---|---|
| Median Home Value | $156,300 | $158,500 | $244,900 |
| Median Rent | $962 | $891 | $1,163 |
| Median Income | $54,321 | $61,944 | $69,021 |
| Home Value To Income | 2.9x | 2.6x | 3.5x |
| Rent To Monthly Income | 0.21x | 0.17x | 0.2x |
Median Home Value
Median Rent
Median Income
Indianapolis, IN Costs By Category
Detailed Indianapolis Services Costs Vs. Indiana
| Item | Indianapolis | Indiana |
|---|---|---|
| Shampoo | $1.03 | $1.06 |
| Movie | $11.27 | $10.68 |
| Bowling | $16.9 | $14.67 |
| Haircut | $17.8 | $18.62 |
| Beauty Salon | $37.63 | $39.05 |
Detailed Indianapolis Groceries Costs Vs. Indiana
| Item | Indianapolis | Indiana |
|---|---|---|
| Ground Beef | $4.16 | $4.22 |
| Fried Chicken | $1.37 | $1.39 |
| Milk | $1.68 | $2.05 |
| Potatoes | $2.69 | $3.29 |
| Pizza | $10.99 | $10.62 |
| Beer | $8.71 | $9.38 |
| Toothpaste | $2.02 | $2.34 |
Detailed Indianapolis Health Costs Vs. Indiana
| Item | Indianapolis | Indiana |
|---|---|---|
| Optometrist | $65.9 | $108.57 |
| Doctor | $88.25 | $116.17 |
| Dentist | $92.92 | $99.13 |
Detailed Indianapolis Transportation Costs Vs. Indiana
| Item | Indianapolis | Indiana |
|---|---|---|
| Gasoline | $2.12 | $2.22 |
| Tire Balancing | $40.89 | $50.07 |
Detailed Indianapolis Utilities Costs Vs. Indiana
| Item | Indianapolis | Indiana |
|---|---|---|
| All Electricity | $171.81 | $167.67 |
| Phone | $184.27 | $175.64 |
Indianapolis SnackAbility
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Cost Of Living In Cities Around Indianapolis
The cost of living varies in the cities and towns around Indianapolis. Here's a quick look at the cost of living in the most populous nearby places:
Carmel, IN has a cost of living index of 114, 1.3x Indianapolis.
Noblesville, IN has a cost of living index of 98, 1.1x Indianapolis.
Lawrence, IN has a cost of living index of 87, 1.0x Indianapolis.
| City | Population | Cost Of Living | Vs. Indianapolis |
|---|---|---|---|
| Carmel, IN | 98,137 | 114 | 1.3x |
| Noblesville, IN | 68,885 | 98 | 1.1x |
| Lawrence, IN | 49,048 | 87 | 1.0x |
| Westfield, IN | 45,695 | 103 | 1.2x |
| Zionsville, IN | 30,258 | 118 | 1.3x |
| Brownsburg, IN | 28,420 | 95 | 1.1x |
| Beech Grove, IN | 15,202 | 86 | 1.0x |
| Speedway, IN | 13,613 | 88 | 1.0x |
| Danville, IN | 10,424 | 92 | 1.0x |
| Cumberland, IN | 5,860 | 93 | 1.1x |
