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 94, with 100 being the average.
The cost of living index in Indianapolis is 0.9x lower than the national average.
Indianapolis ranks as the #81 cheapest in Indiana out of 128.
Indianapolis ranks as the #1,806 cheapest out of 6,489 in the US.
The median home value in Indianapolis is $229,422.
The median income in Indianapolis is $62,995.
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 94, 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 higher than Indiana's index of 92.
The standard of living in Indianapolis ranks as #81 most affordable out of the 128 places we measured in Indiana. By definition, that implies Indianapolis ranks as the #47 most expensive place in the Hoosier State.
For more reading on life in Indianapolis, check out:
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 98.
The Groceries index in Indianapolis is 100.
The Health index in Indianapolis is 90.
The Housing index in Indianapolis is 83.
The Transportation index in Indianapolis is 97.
The Utilities index in Indianapolis is 105.
| Living Expense | Indianapolis | Indiana | National Average | |
|---|---|---|---|---|
| Overall | 94 | 92 | 100 | |
| Services | 98 | 95 | 100 | |
| Groceries | 100 | 97 | 100 | |
| Health | 90 | 94 | 100 | |
| Housing | 83 | 73 | 100 | |
| Transportation | 97 | 94 | 100 | |
| Utilities | 105 | 107 | 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 2019-2023. The key points are:
The Median Home Value in Indianapolis is $229,422.
The Median Rent in Indianapolis is $1,112.
The Median Income in Indianapolis is $62,995.
The Home Value To Income in Indianapolis is 3.6x.
The Rent To Monthly Income in Indianapolis is 0.21x.
| Statistic | Indianapolis | Indiana | United States |
|---|---|---|---|
| Median Home Value | $229,422 | $251,301 | $303,400 |
| Median Rent | $1,112 | $1,020 | $1,348 |
| Median Income | $62,995 | $70,051 | $78,538 |
| Home Value To Income | 3.6x | 3.6x | 3.9x |
| Rent To Monthly Income | 0.21x | 0.17x | 0.21x |
Median Home Value
Median Rent
Median Income
Indianapolis, IN Costs By Category
Detailed Indianapolis Services Costs Vs. Indiana
| Item | Indianapolis | Indiana |
|---|---|---|
| Shampoo | $1.33 | $1.28 |
| Movie | $10.91 | $12.13 |
| Bowling | $18.7 | $18 |
| Haircut | $19.53 | $24.26 |
| Beauty Salon | $39.03 | $45.56 |
Detailed Indianapolis Groceries Costs Vs. Indiana
| Item | Indianapolis | Indiana |
|---|---|---|
| Ground Beef | $5.91 | $5.84 |
| Fried Chicken | $1.61 | $1.57 |
| Milk | $4.73 | $4.67 |
| Potatoes | $5.07 | $4.93 |
| Pizza | $12.39 | $12.09 |
| Beer | $10.3 | $10.41 |
| Toothpaste | $3.67 | $3.7 |
Detailed Indianapolis Health Costs Vs. Indiana
| Item | Indianapolis | Indiana |
|---|---|---|
| Optometrist | $73.37 | $125.68 |
| Doctor | $99.19 | $135.78 |
| Dentist | $109.26 | $113.29 |
Detailed Indianapolis Transportation Costs Vs. Indiana
| Item | Indianapolis | Indiana |
|---|---|---|
| Gasoline | $3.39 | $3.46 |
| Tire Balancing | $54.63 | $59.92 |
Detailed Indianapolis Utilities Costs Vs. Indiana
| Item | Indianapolis | Indiana |
|---|---|---|
| All Electricity | $207.03 | $193.99 |
| Phone | $190.02 | $192.25 |
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 119, 1.3x Indianapolis.
Noblesville, IN has a cost of living index of 104, 1.1x Indianapolis.
Westfield, IN has a cost of living index of 114, 1.2x Indianapolis.
| City | Population | Cost Of Living | Vs. Indianapolis |
|---|---|---|---|
| Carmel, IN | 100,501 | 119 | 1.3x |
| Noblesville, IN | 71,940 | 104 | 1.1x |
| Westfield, IN | 51,109 | 114 | 1.2x |
| Lawrence, IN | 49,284 | 96 | 1.0x |
| Zionsville, IN | 31,442 | 127 | 1.4x |
| Brownsburg, IN | 30,310 | 101 | 1.1x |
| Beech Grove, IN | 15,082 | 87 | 0.9x |
| Speedway, IN | 13,622 | 90 | 1.0x |
| Danville, IN | 11,049 | 98 | 1.0x |
| Cumberland, IN | 6,154 | 96 | 1.0x |
