Quick facts: Indianapolis, IN

Quick Facts

95.5
Cost of Living
below US average
880,621
Population
7.97
Crime Rate per 1000
below US average
$59,110
Median Income
below US average
$189,900
Median House Price
above US average
$1319.46
Average Rent
below US average
15%
Poverty Rate
above US average
4.4%
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 $59,110.

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Income Needed to Buy

βœ— Stretch
$60k/year
Based on $189,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $60k vs median $59,110
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Income Needed to Rent

βœ“ Affordable
$57k/year
Based on $1319.46/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($59,110) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Indianapolis, IN

Indianapolis, the capital city of Indiana, is known for its rich history and vibrant culture. Situated in the center of the state, it serves as a major hub for business, sports, and education. The city is famous for the Indianapolis 500, an iconic automobile race held annually at the Indianapolis Motor Speedway, which is one of the largest sporting venues in the world. With a population of over 877,000, Indianapolis is the most populous city in Indiana and the 17th most populous in the United States. The city boasts a diverse economy, with sectors including healthcare, finance, and manufacturing playing significant roles. Notable companies such as Cummins, Eli Lilly, and Anthem Inc. are headquartered here. Culturally, Indianapolis offers a variety of attractions, including the Indianapolis Museum of Art, the Children's Museum of Indianapolis, and the Indiana State Museum. The city is also home to a thriving food scene, a vibrant arts district, and numerous parks and recreational areas. Visitors can enjoy events throughout the year, with festivals, concerts, and sporting events creating a lively atmosphere.

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