Quick facts: Anderson, IN

Quick Facts

100.0
Cost of Living
above US average
55,099
Population
33.78
Crime Rate per 1000
above US average
$44,974
Median Income
below US average
$224,900
Median House Price
above US average
$1379.17
Average Rent
below US average
12%
Poverty Rate
above US average
4.9%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $44,974.

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Income Needed to Buy

βœ— Stretch
$71k/year
Based on $224,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $71k vs median $44,974
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Income Needed to Rent

⚠ Stretch
$59k/year
Based on $1379.17/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $59k vs median $44,974
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Anderson, IN

Anderson, Indiana, is a city located in Madison County, about 40 miles northeast of Indianapolis. With a rich industrial history, it was once known for its automobile manufacturing and has diverse economic roots. The city's population is around 55,000, making it a notable mid-sized urban area in the state. Anderson is home to several parks, such as Mounds State Park, which features ancient earthworks and beautiful hiking trails, ideal for outdoor enthusiasts. The city's vibrant arts scene includes the Anderson Center for the Arts, along with various local events and festivals that celebrate the community's heritage. Sports fans can enjoy local teams, including the Anderson University Ravens, part of the NCAA Division III. The city's educational landscape includes both public and private schools, along with higher education institutions like Anderson University. Overall, Anderson offers a blend of historical charm and modern amenities, making it a unique place to explore or call home. Visitors can enjoy local dining, shopping, and cultural experiences, reflecting the city's welcoming community spirit.

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