Quick facts: Greenwood, IN

Quick Facts

95.3
Cost of Living
below US average
65,406
Population
18.81
Crime Rate per 1000
below US average
$75,398
Median Income
below US average
$327,000
Median House Price
above US average
$1516.96
Average Rent
above US average
7%
Poverty Rate
below US average
3.8%
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 $75,398.

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Income Needed to Buy

βœ— Stretch
$103k/year
Based on $327,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $103k vs median $75,398
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Income Needed to Rent

βœ“ Affordable
$65k/year
Based on $1516.96/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($75,398) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Greenwood, IN

Greenwood, Indiana, is a vibrant city located just south of Indianapolis. Known for its friendly community and family-oriented atmosphere, Greenwood offers a blend of suburban comfort and access to urban amenities. The city features an array of parks and recreational areas, including the popular Craig Park, which boasts trails, sports facilities, and picnic areas. Greenwood is also home to various shopping and dining options, particularly in the bustling Greenwood Park Mall and along State Road 135. Education is a priority in Greenwood, with strong public and private schools serving the area. The city is connected by major highways, making commuting to Indianapolis convenient for residents. Community events, such as the annual Festival of Trees and the summer concert series, foster a sense of local pride and engagement. Greenwood's real estate market is diverse, offering affordable housing options for families, retirees, and young professionals. The growing economy, combined with its welcoming atmosphere, makes Greenwood a desirable place to live and work in Indiana.

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