Muncie, Indiana is a pleasant small city with a population of 47,306 and home to Ball State University. The average 2 bedroom rent in Muncie is $900, which is lower than the US average of $1,430. The grocery cost index for Muncie is 92 compared to 100 on the national level. Major local companies include Belden Inc., Food Express Distribution Group, First Merchants Corporation, Mutual Bank, and KSM Industries Inc.