Economy in Indianapolis, IN

Indianapolis, IN is an affordable city to live in. The average rent for a two-bedroom apartment is $1,090 per month which is significantly lower than the national average of $1,430. Additionally, the cost of groceries index here is 94 compared to the national average of 100, making it even more attractive for those looking to save money. Indianapolis has also become known as a hub for businesses; many large companies such as Eli Lilly and Co., Salesforce, Cummins Inc., and Anthem are headquartered here. With its competitive advantages combined with its affordability, Indianapolis has become an ideal place to call home.

Indianapolis has an unemployment rate of 5.6%. The US average is 6.0%.

Indianapolis has seen the job market increase by 2.5% over the last year. Future job growth over the next ten years is predicted to be 37.5%, which is higher than the US average of 33.5%.

Tax Rates for Indianapolis
- The Sales Tax Rate for Indianapolis is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Indianapolis is 4.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for Indianapolis
- The average income of a Indianapolis resident is $24,058 a year. The US average is $28,555 a year.
- The Median household income of a Indianapolis resident is $54,321 a year. The US average is $69,021 a year.