The 10 Most Expensive Places To Live In Indiana For 2022


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 2022. This is our ninth 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 2022.

So where is the most expensive place to live in Indiana? That would be West Lafayette.
the 2016-2020 American Community Survey for the 117 places in Indiana with more than 5,000 people.

Here are the 10 most expensive places to live in Indiana for 2022:

  1. West Lafayette
  2. Bloomington
  3. Valparaiso
  4. Indianapolis
  5. Speedway
  6. Angola
  7. Plainfield
  8. Madison
  9. Clarksville
  10. Cedar Lake

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 Rushville (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 2022

1. West Lafayette

West Lafayette, IN

Overall SnackAbility

8.5
/10

Population: 49,668
Rank Last Year: 1 (No Change)
Home Price To Income Ratio: 7.5x (most expensive)
Income To Rent Ratio: 34.4x (most expensive)
More on West Lafayette: Real Estate | Data | Photos

The median income in West Lafayette comes in at $31,460 and the median home value is $235,300 for 2022.

2. Bloomington

Bloomington, IN

Overall SnackAbility

7
/10

Population: 84,691
Rank Last Year: 2 (No Change)
Home Price To Income Ratio: 5.3x (2nd most expensive)
Income To Rent Ratio: 43.7x (4th most expensive)
More on Bloomington: Real Estate | Data | Photos

The median income in Bloomington comes in at $41,354 and the median home value is $219,200 for 2022.

3. Valparaiso

Valparaiso, IN

Overall SnackAbility

7
/10

Population: 33,707
Rank Last Year: 7 (Up 3)
Home Price To Income Ratio: 3.4x (5th most expensive)
Income To Rent Ratio: 59.8x (4most expensive)
More on Valparaiso: Real Estate | Data | Photos

The median income in Valparaiso comes in at $56,027 and the median home value is $188,400 for 2022.

4. Indianapolis

Indianapolis, IN

Source: Public domain
Overall SnackAbility

7
/10

Population: 869,387
Rank Last Year: 3 (Down 2)
Home Price To Income Ratio: 2.9x (11th most expensive)
Income To Rent Ratio: 55.8x (23rd most expensive)
More on Indianapolis: Real Estate | Data | Photos

The median income in Indianapolis comes in at $50,813 and the median home value is $145,200 for 2022.

5. Speedway

Speedway, IN

Overall SnackAbility

5
/10

Population: 12,327
Rank Last Year: 5 (Down 1)
Home Price To Income Ratio: 2.8x (14th most expensive)
Income To Rent Ratio: 52.5x (13th most expensive)
More on Speedway: Real Estate | Data | Photos

The median income in Speedway comes in at $46,863 and the median home value is $131,900 for 2022.

6. Angola

Angola, IN

Source: Public domain
Overall SnackAbility

6
/10

Population: 8,706
Rank Last Year: 18 (Up 11)
Home Price To Income Ratio: 3.2x (6th most expensive)
Income To Rent Ratio: 58.9x (36th most expensive)
More on Angola: Real Estate | Data | Photos

The median income in Angola comes in at $45,957 and the median home value is $145,300 for 2022.

7. Plainfield

Plainfield, IN

Overall SnackAbility

7
/10

Population: 34,224
Rank Last Year: 6 (Down 2)
Home Price To Income Ratio: 2.8x (12th most expensive)
Income To Rent Ratio: 62.0x (49th most expensive)
More on Plainfield: Real Estate | Data | Photos

The median income in Plainfield comes in at $65,306 and the median home value is $185,800 for 2022.

8. Madison

Madison, IN

Source: Public domain
Overall SnackAbility

5
/10

Population: 11,783
Rank Last Year: 4 (Down 5)
Home Price To Income Ratio: 3.4x (4th most expensive)
Income To Rent Ratio: 61.1x (46th most expensive)
More on Madison: Real Estate | Data | Photos

The median income in Madison comes in at $41,568 and the median home value is $142,100 for 2022.

9. Clarksville

Clarksville, IN

Overall SnackAbility

6
/10

Population: 21,825
Rank Last Year: 13 (Up 3)
Home Price To Income Ratio: 2.7x (20th most expensive)
Income To Rent Ratio: 55.0x (22nd most expensive)
More on Clarksville: Real Estate | Data | Photos

The median income in Clarksville comes in at $46,931 and the median home value is $128,600 for 2022.

10. Cedar Lake

Cedar Lake, IN

Overall SnackAbility

5
/10

Population: 12,830
Rank Last Year: 20 (Up 9)
Home Price To Income Ratio: 2.9x (10th most expensive)
Income To Rent Ratio: 68.2x (73rd most expensive)
More on Cedar Lake: Real Estate | Data | Photos

The median income in Cedar Lake comes in at $65,026 and the median home value is $188,900 for 2022.

Methodology: How We Determined The Most Expensive Places To Live In The Hoosier State For 2022

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 2016-2020 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 117 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 2022

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. Rushville
  2. Boonville
  3. North Manchester

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 3.33 49,668 7.5x 34.4x
2 Bloomington 6.67 84,691 5.3x 43.7x
3 Valparaiso 22.0 33,707 3.4x 59.8x
4 Indianapolis 25.17 869,387 2.9x 55.8x
5 Speedway 26.33 12,327 2.8x 52.5x
6 Angola 27.17 8,706 3.2x 58.9x
7 Plainfield 27.33 34,224 2.8x 62.0x
8 Madison 31.67 11,783 3.4x 61.1x
9 Clarksville 33.0 21,825 2.7x 55.0x
10 Cedar Lake 34.0 12,830 2.9x 68.2x
11 Scottsburg 34.0 6,715 2.8x 47.4x
12 Winfield 34.33 5,879 2.7x 69.9x
13 Seymour 35.67 19,780 2.7x 56.1x
14 Schererville 36.0 28,559 3.2x 76.5x
15 Portage 38.67 36,524 2.6x 63.8x
16 Highland 38.67 22,479 2.5x 60.8x
17 Lowell 39.33 9,793 2.5x 60.5x
18 Westfield 41.0 41,652 2.8x 83.2x
19 Greenwood 41.0 58,784 2.5x 63.5x
20 Carmel 41.33 99,130 3.1x 92.3x
21 Lafayette 41.33 72,556 2.5x 55.0x
22 Dyer 41.67 15,933 2.6x 72.3x
23 Zionsville 41.67 28,035 3.0x 97.5x
24 Greenfield 42.67 22,561 2.6x 64.7x
25 Goshen 43.33 34,586 2.6x 61.6x
26 Warsaw 44.33 15,757 2.6x 64.0x
27 Bargersville 44.33 7,417 2.7x 80.4x
28 Lawrence 44.33 49,020 2.6x 65.9x
29 Jeffersonville 45.67 47,932 2.6x 65.0x
30 Greencastle 45.67 10,312 2.6x 59.6x
31 New Albany 46.33 36,730 2.6x 62.5x
32 La Porte 46.67 21,328 2.6x 58.9x
33 Noblesville 46.67 64,430 2.7x 82.0x
34 Columbus 47.33 48,820 2.6x 70.5x
35 Sellersburg 47.67 9,320 2.5x 63.8x
36 Munster 48.0 22,604 2.6x 85.3x
37 St. John 48.33 18,382 2.7x 108.7x
38 Beech Grove 48.5 15,148 2.4x 54.4x
39 Hobart 48.67 28,120 2.5x 64.7x
40 Crown Point 49.67 30,372 2.5x 73.5x
41 Whitestown 50.0 8,842 2.4x 71.4x
42 Chesterton 50.0 13,884 2.6x 78.5x
43 Columbia City 50.67 9,115 2.7x 67.7x
44 Elkhart 51.67 52,657 2.4x 51.0x
45 Mishawaka 52.33 49,675 2.4x 54.4x
46 Mccordsville 52.67 7,237 2.6x 117.8x
47 Jasper 52.67 15,681 2.8x 89.9x
48 Batesville 52.67 6,945 2.8x 119.1x
49 Merrillville 53.0 34,871 2.2x 59.0x
50 Bedford 54.33 13,246 2.5x 60.9x
51 Westville 54.33 5,822 2.8x 77.3x
52 Charlestown 56.0 8,290 2.5x 68.4x
53 Franklin 56.5 25,276 2.4x 66.9x
54 Evansville 56.67 118,414 2.3x 53.5x
55 Lebanon 57.0 16,317 2.5x 69.3x
56 Plymouth 57.33 10,029 2.4x 53.3x
57 Brownsburg 59.33 26,560 2.4x 78.1x
58 Avon 59.67 18,056 2.3x 75.6x
59 Mooresville 60.5 9,727 2.4x 70.1x
60 Cumberland 60.67 5,840 2.5x 80.2x
61 Nappanee 61.33 7,138 2.5x 75.6x
62 Ellettsville 61.67 6,650 2.6x 89.0x
63 Terre Haute 61.67 60,690 2.2x 49.5x
64 Salem 62.33 6,193 2.5x 60.6x
65 Hammond 62.5 76,141 2.1x 53.2x
66 Muncie 63.67 67,739 2.2x 48.5x
67 Fort Wayne 63.67 268,378 2.4x 66.2x
68 Crawfordsville 64.67 16,088 2.4x 67.3x
69 Monticello 64.67 5,255 2.3x 59.3x
70 Anderson 65.33 54,476 2.1x 47.5x
71 Mount Vernon 65.67 6,535 2.5x 77.4x
72 Washington 65.67 12,514 2.2x 57.8x
73 Gary 65.67 75,486 2.2x 39.5x
74 Rensselaer 66.33 6,151 2.3x 66.0x
75 South Bend 67.0 102,686 2.1x 52.4x
76 Auburn 67.33 13,209 2.4x 73.7x
77 Griffith 68.67 16,198 2.2x 75.6x
78 Danville 70.0 10,380 2.2x 90.7x
79 New Haven 70.33 15,934 2.1x 64.1x
80 Michigan City 70.33 31,191 2.1x 58.8x
81 Hunte 71.0 7,224 2.1x 79.0x
82 Shelbyville 72.67 18,918 2.1x 62.4x
83 Martinsville 72.83 11,807 2.2x 67.7x
84 Richmond 73.0 35,467 2.1x 58.1x
85 Marion 73.33 27,730 2.0x 51.5x
86 Lake Station 73.67 11,952 1.8x 51.6x
87 East Chicago 74.33 28,044 2.1x 53.8x
88 Frankfort 74.67 15,569 2.1x 58.1x
89 Greensburg 74.67 11,221 2.2x 72.6x
90 Huntingburg 74.67 6,301 2.3x 69.1x
91 Linton 78.0 5,293 2.0x 56.1x
92 Connersville 78.33 13,096 1.9x 56.9x
93 Decatur 78.33 9,700 2.2x 74.1x
94 Vincennes 78.67 17,091 1.9x 58.0x
95 Yor 79.0 11,128 2.1x 88.6x
96 Portland 80.0 5,972 1.9x 58.0x
97 Tell City 80.0 7,243 2.4x 85.3x
98 Rochester 80.67 6,026 2.1x 70.1x
99 Brazil 81.67 8,225 1.9x 59.6x
100 Peru 82.67 11,369 1.6x 53.2x

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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.