Housing costs in Indianapolis?
A typical home costs
$208,600, which is 38.3% less expensive than the national average of
$338,100 and 5.9% less expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Indianapolis costs
$980 per month, which is 31.5% cheaper than the national average of
$1,430 and close to the state average of
$980.
Can I afford Indianapolis?
To live comfortably in Indianapolis (zip 46227), Indiana, a minimum annual income of
$39,960 for a family, and
$33,200 for a single person is recommended.
What does A.I. say about Indianapolis?
The cost of living in 46227 Indianapolis, IN is relatively low compared to other cities. In particular, housing costs are very affordable with the median home price being around $125,000. Additionally, the average rent for a one-bedroom apartment is approximately $789 per month. The cost of utilities such as gas, electricity and water are also quite reasonable. Transportation is also accessible and affordable with public transportation costing only $2 per ride for adults and $1 per ride for children. Overall, the cost of living in Indianapolis is quite reasonable in comparison to many other cities within the United States.