Quick facts: Clay city, IN

Quick Facts

95.3
Cost of Living
below US average
878
Population
63.78
Crime Rate per 1000
above US average
$56,250
Median Income
below US average
$210,000
Median House Price
above US average
$1317
Average Rent
below US average
7%
Poverty Rate
below US average
3.2%
Unemployment Rate
below 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 $56,250.

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Income Needed to Buy

βœ— Stretch
$66k/year
Based on $210,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $66k vs median $56,250
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Income Needed to Rent

⚠ Stretch
$56k/year
Based on $1317/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $56k vs median $56,250
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Clay city, IN

Clay City is a small town located in Clay County, Indiana. With a population of around 1,400 residents, this quaint community offers a serene, rural lifestyle. Nestled in the heart of the Midwest, Clay City is known for its friendly atmosphere and strong sense of community. The town is characterized by its beautiful landscapes, featuring rolling hills and lush greenery. Outdoor enthusiasts can enjoy local parks and recreational activities, making it a great spot for families and nature lovers. The area is also rich in history, with charming downtown architecture and various historical landmarks. Clay City is conveniently located near larger cities like Terre Haute and Indianapolis, providing residents with easy access to more urban amenities such as shopping, dining, and entertainment. The local economy is primarily driven by agriculture, manufacturing, and small businesses. Despite its small size, Clay City hosts several annual community events, fostering a close-knit environment where residents can connect. Overall, Clay City offers a peaceful, family-oriented lifestyle with a strong emphasis on community values and a connection to nature.

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