Cost of Living in Carmel, IN
Housing
The housing market plays a significant role in determining the cost of living in Carmel, IN.
- Housing Index: 120.5 / 100
- Median Home Price is: $396000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1830 per month
Considering a move to Carmel, IN? With a housing index of 120.5, it's above the national average, which may indicate a competitive market. The median home price stands at 396000, signaling a solid investment opportunity. For those not ready to purchase, the average rent for a 2BR apartment is 1800, while renting a 2BR house averages 1830. It's essential to factor in the local amenities, job market, and lifestyle options, as these can significantly impact your overall living experience in Carmel. Always research area-specific information for better decision-making.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Carmel, IN.
- Electricity Price: $14.89 USD (median by state)
- Natural Gas Price: Data is updating (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Carmel, IN could entail higher utility costs. Electricity costs sit at $14.89, while natural gas is priced at data unavailable per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Carmel is a financially viable option for your relocation.