The 10 Most Expensive Places To Live In Indiana For 2023


We used science and data to determine which cities in Indiana that will put a big dent in your wallet.

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Editor’s Note: We updated this article for 2023. This is our tenth time ranking the most expensive places to live in Indiana.

Everyone wants a home that mixes affordability with comfort and Indiana does this very well. Families love the Hoosier State's beaches, midlands, and mountains as tourists before moving here and calling it home.

But before you decide to relocate, you have to do some research into the exact cost of living around the state -- and that's how we're going to help you.

These are the places in Indiana that cost a pretty penny -- the most expensive cities in the state.

After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Indiana for 2023.

So where is the most expensive place to live in Indiana? That would be West Lafayette.
the 2017-2021 American Community Survey for the 118 places in Indiana with more than 5,000 people.

Here are the 10 most expensive places to live in Indiana for 2023:

  1. West Lafayette
  2. Bloomington
  3. Valparaiso
  4. Lawrenceburg
  5. Winfield
  6. Speedway
  7. Plainfield
  8. Indianapolis
  9. Angola
  10. Sellersburg

What's the most expensive place to live in Indiana? Well, HomeSnacks crunched the numbers and discovered that West Lafayette is the most expensive place to live in Indiana.

So hopefully Wabash (the cheapest place to live in Indiana) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.

And if you already knew these places were expensive, check out some more reading about Indiana and the most expensive cities in the country:

The 10 Most Expensive Places To Live In Indiana For 2023

1. West Lafayette

West Lafayette, IN

Overall SnackAbility

7.5
/10

Population: 44,515
Rank Last Year: 1 (No Change)
Home Price To Income Ratio: 8.6x (most expensive)
Income To Rent Ratio: 30.1x (most expensive)
More on West Lafayette: Real Estate | Data | Photos

The median income in West Lafayette comes in at $28,744 and the median home value is $248,100 for 2023.

2. Bloomington

Bloomington, IN

Overall SnackAbility

7
/10

Population: 80,064
Rank Last Year: 2 (No Change)
Home Price To Income Ratio: 5.5x (2nd most expensive)
Income To Rent Ratio: 42.5x (4th most expensive)
More on Bloomington: Real Estate | Data | Photos

The median income in Bloomington comes in at $41,995 and the median home value is $231,500 for 2023.

3. Valparaiso

Valparaiso, IN

Overall SnackAbility

7
/10

Population: 33,820
Rank Last Year: 4 (Up 1)
Home Price To Income Ratio: 3.5x (4th most expensive)
Income To Rent Ratio: 56.7x (27th most expensive)
More on Valparaiso: Real Estate | Data | Photos

The median income in Valparaiso comes in at $56,465 and the median home value is $199,200 for 2023.

4. Lawrenceburg

Lawrenceburg, IN

Source: Public domain
Overall SnackAbility

5
/10

Population: 5,083
Rank Last Year: 3 (Down 1)
Home Price To Income Ratio: 4.6x (3rd most expensive)
Income To Rent Ratio: 40.0x (2nd most expensive)
More on Lawrenceburg: Real Estate | Data | Photos

The median income in Lawrenceburg comes in at $28,902 and the median home value is $132,400 for 2023.

5. Winfield

Winfield, IN

Overall SnackAbility

6
/10

Population: 6,924
Rank Last Year: 13 (Up 8)
Home Price To Income Ratio: 2.7x (25th most expensive)
Income To Rent Ratio: 59.4x (37th most expensive)
More on Winfield: Real Estate | Data | Photos

The median income in Winfield comes in at $113,352 and the median home value is $302,800 for 2023.

6. Speedway

Speedway, IN

Overall SnackAbility

6
/10

Population: 13,613
Rank Last Year: 6 (No Change)
Home Price To Income Ratio: 2.9x (14th most expensive)
Income To Rent Ratio: 52.0x (9th most expensive)
More on Speedway: Real Estate | Data | Photos

The median income in Speedway comes in at $49,044 and the median home value is $142,800 for 2023.

7. Plainfield

Plainfield, IN

Overall SnackAbility

7
/10

Population: 34,311
Rank Last Year: 8 (No Change)
Home Price To Income Ratio: 3.0x (13th most expensive)
Income To Rent Ratio: 61.5x (48th most expensive)
More on Plainfield: Real Estate | Data | Photos

The median income in Plainfield comes in at $68,541 and the median home value is $203,700 for 2023.

8. Indianapolis

Indianapolis, IN

Source: Public domain
Overall SnackAbility

5
/10

Population: 880,104
Rank Last Year: 5 (Down 4)
Home Price To Income Ratio: 2.9x (15th most expensive)
Income To Rent Ratio: 56.5x (26th most expensive)
More on Indianapolis: Real Estate | Data | Photos

The median income in Indianapolis comes in at $54,321 and the median home value is $156,300 for 2023.

9. Angola

Angola, IN

Source: Public domain
Overall SnackAbility

6
/10

Population: 8,916
Rank Last Year: 7 (Down 3)
Home Price To Income Ratio: 3.2x (5th most expensive)
Income To Rent Ratio: 59.3x (36th most expensive)
More on Angola: Real Estate | Data | Photos

The median income in Angola comes in at $46,616 and the median home value is $148,800 for 2023.

10. Sellersburg

Sellersburg, IN

Overall SnackAbility

6
/10

Population: 9,686
Rank Last Year: 36 (Up 25)
Home Price To Income Ratio: 2.8x (17th most expensive)
Income To Rent Ratio: 61.1x (42nd most expensive)
More on Sellersburg: Real Estate | Data

The median income in Sellersburg comes in at $59,130 and the median home value is $168,400 for 2023.

Methodology: How We Determined The Most Expensive Places To Live In The Hoosier State For 2023

Map Of The Cheapest Places To Live In Indiana
The two most important things to think about when it comes to being able to afford if you can live comes down to:

  1. How much do money do I make?
  2. How much do I have spend to live there?

You need to understand your costs in the context of how much money you make.

For example, if the median household earns $100,000 and spends $40,000 on housing it's actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.

With that example in mind, we derived several statistics from the latest Census American Community Survey 2017-2021 around incomes and costs. They are:

  • Median Home Price / Median Income (lower is better)
  • Median Income / Median Rent (Higher is better)
  • Median Home Price

We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).

You can then compare these metrics in each of the places in Indiana to figure out which is the most expensive.

What you are left with is a "Cost of Living Index" by taking the average rank of each of these metrics for each city.

So we used that cost of living index in order to rank all of the 118 places in Indiana that have more than 5,000 people.

The place with the highest cost of living in Indiana according to the data is West Lafayette. You can download the data here.

Summary: Taking A Chunk Out Of Your Paycheck In Indiana For 2023

Well there you have it, the places in Indiana that have the highest cost of living, with West Lafayette ranking as the most expensive city in the Hoosier State.

Here's a look at the most affordable cities in Indiana according to the data:

  1. Wabash
  2. Rushville
  3. Kendallville

For more Indiana reading, check out:

Detailed List Of The Most Expensive Cities In Indiana

Rank City ExpensiveScore Population Home/Income Ratio Income/Rent Ratio
1 West Lafayette 3.67 44,515 8.6x 30.1x
2 Bloomington 7.33 80,064 5.5x 42.5x
3 Valparaiso 17.67 33,820 3.5x 56.7x
4 Lawrenceburg 22.0 5,083 4.6x 40.0x
5 Winfield 22.33 6,924 2.7x 59.4x
6 Speedway 25.0 13,613 2.9x 52.0x
7 Plainfield 27.33 34,311 3.0x 61.5x
8 Indianapolis 27.83 880,104 2.9x 56.5x
9 Angola 29.67 8,916 3.2x 59.3x
10 Sellersburg 30.0 9,686 2.8x 61.1x
11 Lafayette 35.33 70,928 2.6x 52.7x
12 New Albany 35.33 37,350 2.8x 58.0x
13 Scottsburg 36.0 7,203 3.1x 47.3x
14 Goshen 37.0 34,792 2.7x 58.5x
15 Hobart 37.0 29,516 2.6x 60.2x
16 Clarksville 37.0 22,169 2.7x 57.5x
17 Schererville 37.0 29,381 3.1x 73.1x
18 Beech Grove 40.0 15,202 2.6x 52.4x
19 Merrillville 40.0 36,196 2.5x 53.9x
20 Madison 40.33 12,227 3.2x 66.5x
21 Greencastle 40.33 9,980 2.7x 56.8x
22 Bargersville 41.33 9,024 3.0x 78.8x
23 Carmel 42.67 98,137 3.1x 88.9x
24 Lowell 43.33 10,569 2.6x 64.8x
25 Zionsville 43.67 30,258 3.0x 97.6x
26 Avon 43.67 20,848 2.6x 69.7x
27 Jeffersonville 43.83 49,178 2.6x 64.5x
28 Greenwood 44.33 62,914 2.6x 64.5x
29 Cedar Lake 44.67 13,725 2.8x 74.3x
30 Portage 45.0 37,540 2.6x 65.6x
31 Westfield 45.33 45,695 2.9x 86.5x
32 Whitestown 45.67 9,529 2.6x 71.6x
33 Highland 46.33 23,695 2.5x 62.9x
34 Noblesville 46.67 68,885 2.7x 80.1x
35 Chesterton 49.33 14,045 2.8x 85.6x
36 Seymour 49.67 21,192 2.5x 57.8x
37 Columbus 50.33 50,718 2.6x 69.9x
38 Mccordsville 51.0 8,629 2.7x 90.1x
39 Franklin 51.0 25,112 2.6x 66.9x
40 Crown Point 51.33 33,518 2.5x 71.8x
41 Lawrence 51.67 49,048 2.6x 67.1x
42 Crawfordsville 51.67 16,279 2.6x 61.5x
43 Dyer 51.67 16,422 2.6x 76.9x
44 St. John 53.0 19,805 2.6x 132.1x
45 Mishawaka 55.0 50,823 2.3x 53.5x
46 Columbia City 55.33 9,390 2.6x 69.3x
47 Hammond 56.0 77,491 2.2x 52.6x
48 Greenfield 56.17 23,024 2.5x 67.0x
49 Jasper 56.33 16,231 2.8x 84.1x
50 Warsaw 56.67 15,905 2.5x 64.4x
51 Munster 57.0 23,717 2.5x 83.9x
52 Hunte 57.33 8,965 2.1x 63.0x
53 La Porte 57.33 21,993 2.5x 58.7x
54 Griffith 57.67 16,213 2.4x 65.7x
55 Huntingburg 58.33 6,534 2.5x 59.5x
56 Batesville 59.0 7,204 2.7x 127.8x
57 Evansville 60.33 117,184 2.3x 54.7x
58 Elkhart 61.0 53,838 2.3x 54.4x
59 Brownsburg 61.67 28,420 2.4x 79.5x
60 Lebanon 62.33 17,196 2.5x 71.1x
61 Terre Haute 62.33 58,450 2.3x 49.5x
62 Fort Wayne 63.0 262,676 2.4x 65.6x
63 Salem 63.5 6,276 2.5x 64.2x
64 Mount Vernon 63.67 6,861 2.6x 74.9x
65 Plymouth 64.33 10,209 2.2x 53.4x
66 Nappanee 65.17 7,132 2.5x 78.7x
67 Bedford 66.33 13,726 2.3x 61.8x
68 Anderson 68.33 54,459 2.1x 49.9x
69 Muncie 68.33 65,571 2.1x 48.5x
70 South Bend 68.67 102,786 2.1x 53.4x
71 Rensselaer 69.0 5,963 2.2x 63.3x
72 Danville 69.33 10,424 2.3x 86.3x
73 Cumberland 70.0 5,860 2.3x 83.5x
74 Washington 70.67 12,015 2.2x 58.7x
75 Ellettsville 71.0 6,559 2.4x 102.1x
76 Gary 71.33 69,739 2.1x 40.2x
77 Charlestown 71.33 7,859 2.4x 76.3x
78 Martinsville 72.0 11,848 2.3x 67.9x
79 Mooresville 72.33 9,429 2.2x 74.5x
80 Michigan City 72.33 31,965 2.1x 60.0x
81 Westville 72.33 6,062 2.4x 73.7x
82 Auburn 72.67 13,281 2.4x 72.6x
83 Richmond 73.0 35,854 2.1x 55.1x
84 New Haven 73.67 15,922 2.1x 65.8x
85 East Chicago 75.67 26,502 2.0x 53.2x
86 Monticello 76.0 5,508 2.1x 62.2x
87 Greensburg 78.0 11,573 2.2x 74.6x
88 Frankfort 78.67 16,134 2.1x 60.4x
89 Lake Station 79.33 13,292 1.7x 53.4x
90 Linton 81.0 5,155 1.9x 54.5x
91 New Whiteland 82.0 5,565 1.9x 70.6x
92 Marion 82.0 27,757 1.9x 52.8x
93 Connersville 82.33 13,556 1.9x 57.7x
94 Boonville 82.67 6,662 2.1x 69.9x
95 Decatur 83.0 9,630 2.2x 68.4x
96 Rochester 83.33 6,248 2.1x 72.9x
97 Hartford City 84.67 5,895 1.9x 56.0x
98 Portland 89.0 6,334 1.9x 61.4x
99 Vincennes 89.0 16,892 1.9x 61.2x
100 Peru 89.0 11,123 1.6x 55.1x

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About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.