Housing costs in Indianapolis?
A typical home costs
$292,700, which is 13.4% less expensive than the national average of
$338,100 and 32.1% more expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Indianapolis costs
$1,020 per month, which is 28.7% cheaper than the national average of
$1,430 and 3.9% more than the state average of
$980.
Can I afford Indianapolis?
To live comfortably in Indianapolis (zip 46256), Indiana, a minimum annual income of
$56,160 for a family, and
$34,400 for a single person is recommended.
What does A.I. say about Indianapolis?
The cost of living in 46256 Indianapolis, IN is quite affordable compared to the rest of the United States. According to an analysis by BestPlaces, the overall cost of living index for 46256 Indianapolis, IN is 86.9, which is lower than the national average of 100. This means that basic goods and services are more affordable in this area than elsewhere in the country. The cost of housing is particularly low; the median home value for a single family dwelling is $144,000 and the median rent price for a 1-bedroom apartment is just over $800 per month. Utilities costs are also relatively low with monthly costs ranging from $50 to $100 depending on usage. Grocery prices are on par with other major cities in the region, but transportation expenses tend to be a bit higher due to increased traffic congestion.