Housing costs in Mitchell?
A typical home costs
$162,000, which is 52.1% less expensive than the national average of
$338,100 and 26.9% less expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Mitchell costs
$850 per month, which is 40.6% cheaper than the national average of
$1,430 and 15.3% cheaper than the state average of
$980.
Can I afford Mitchell?
To live comfortably in Mitchell (zip 47446), Indiana, a minimum annual income of
$30,960 for a family, and
$26,000 for a single person is recommended.
What does A.I. say about Mitchell?
The cost of living in 47446 Mitchell, IN is generally considered to be quite affordable. According to the most recent data from the U.S. Bureau of Labor Statistics, the median household income for residents of 47446 Mitchell is $50,250. This figure places the area below both the Indiana average and national average. Housing costs in particular are particularly affordable in comparison to other areas; the median house value here stands at just $113,900 compared to a national median of over $200,000. Groceries and utilities remain lower than both state and national averages as well. All told, these factors contribute to an overall cost of living index that is 8% lower than the U.S average.