Cost of Living in Indianapolis, IN
Housing
The housing market plays a significant role in determining the cost of living in Indianapolis, IN.
- Housing Index: 85.0 / 100
- Median Home Price is: $238000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1200 per month
In Indianapolis, IN, the housing market reveals a housing index of 85.0, indicating affordability compared to national averages. The median home price stands at 238000, making it a suitable option for first-time homebuyers. Additionally, both the average rent for a 2-bedroom apartment and a house is 1200, which may appeal to those preferring the rental route. It's worth noting that as suburban living gains popularity, areas like Indianapolis could see increasing demand, influencing future market conditions. Evaluate your lifestyle and financial goals before making a move.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Indianapolis, IN.
- Electricity Price: 14.89 USD (median by state)
- Natural Gas Price: $None USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $200 per month
Living in Indianapolis, IN could entail higher utility costs. Electricity costs sit at 14.89, while natural gas is priced at None per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 200 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 Indianapolis is a financially viable option for your relocation.