Indianapolis, IN Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

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

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
88
Indianapolis's Overall Cost Of Living
0.9x
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:

62 out of 124
In Indiana
1,278 out of 6,412
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
For more reading on cost of living around Indiana, check out:
Indianapolis Cost of Living Vs. IN

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
Search Homes For Sale In Indianapolis, IN
$156,300
Median Home Value
$962
Median Rent
$54,321
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

5
/10
Overall SnackAbility
Jobs
6/10
Housing
7
Affordability
6
Diversity
9.5
Safety
3
Amenities
9
Education
7
Commute
8

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

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