So how did Indy fare? The study says you need to earn $46,016 a year to have enough money for needs and wants. However, the median income for the city is $42,076, a shortfall of $3,940. It’s important to note that the study’s calculation does not include taxes.
What is the average cost of living in Indianapolis?
Indianapolis cost of living is 83.5
| COST OF LIVING | Indianapolis | Indiana |
|---|---|---|
| Grocery | 93.6 | 92.9 |
| Health | 86.8 | 82.2 |
| Housing | 61.9 | 61.7 |
| Median Home Cost | $183,000 | $186,100 |
Is living in Indianapolis expensive?
1 While smaller towns and cities typically provide a cheaper lifestyle than big cities, Indianapolis, Indiana’s capital city, is one of the most affordable cities in the country. The median price for a house in the Hoosier State is $142,600, while $662 is the average monthly rent for a one-bedroom apartment.
Is Indianapolis cheap to live?
12 nationally for most affordable housing costs, according to SmartAsset.com. Indy also ranks among the best for its closing costs and property taxes in the new survey of more than 150 U.S. cities.
How much does it cost to live on your own in Indiana?
Average Cost of Living in Indiana: $38,097 per year.
What is the average cost of rent in Indiana?
Indianapolis, IN Rent Trends
| Average Rent | Mar / 2019 | Jul / 2022 |
|---|---|---|
| Indianapolis, IN | $857 | $1,108 |
| National | $1,375 | $1,706 |
Is it cheaper to live in Texas or Indiana?
Indiana is 4.7% cheaper than Texas.
What is a good salary in Indianapolis?
The study says you need to earn $46,016 a year to have enough money for needs and wants. However, the median income for the city is $42,076, a shortfall of $3,940.
Is Indianapolis a safe city?
Is Indianapolis a safe place to live? Indianapolis is safer than 1% of Indiana cities and 2% of other U.S. cities. Though the city has a slightly higher crime rate, there are many safe neighborhoods and suburbs throughout the Indianapolis metro with lower crime rates.
Where is lowest cost of living in us?
Mississippi
Mississippi. Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi’s housing costs are the lowest in the nation.
Is it worth moving to Indianapolis?
If you’re looking to move to a big city with a small-town feel, then Indianapolis is definitely a place to consider. This ever-changing city has a low unemployment rate of 4.2%, a dynamic sports scene, and one of the best growing sustainable food and agriculture scenes in the country.
What is the cheapest and safest state to live in?
Here are the 10 most affordable states in the U.S.:
- Indiana. Average cost of living index: 90.57.
- Michigan. Average cost of living index: 90.40.
- Missouri. Average cost of living index: 89.75.
- Tennessee. Average cost of living index: 89.49.
- Georgia. Average cost of living index: 89.30.
- Arkansas.
- Alabama.
- Oklahoma.
Is Indianapolis an expensive city?
Indianapolis’s housing expenses are 19% lower than the national average and the utility prices are 4% higher than the national average. Transportation expenses like bus fares and gas prices are 9% lower than the national average. Indianapolis has grocery prices that are 5% lower than the national average.
What is a good hourly wage in Indiana?
Hourly Salary in Indiana
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $58,700 | $28 |
| 75th Percentile | $41,325 | $20 |
| Average | $41,807 | $20 |
| 25th Percentile | $25,828 | $12 |
What is the average electric bill in Indiana?
$183/month
In Indiana, the average monthly electricity bill for residential consumers is $183/month, which is calculated by multiplying the average monthly consumption by the average rate for electricity: 1,278 kWh * 14 ¢/kWh.
Is Indianapolis a good place to live?
Indianapolis is a great place to visit. But what makes Indy such a splendid place to stop over makes it an even better place to live. Home to the world’s largest children’s museum, as well as professional and college sports teams and miles of recreational trails, the Circle City has plenty to keep locals entertained.
What state has the highest rent?
These are the states with the highest one-bedroom rent estimates, according to Apartment List:
- California ($1,648)
- New Jersey ($1,516)
- Florida ($1,426)
- Massachusetts ($1,423)
- Virginia ($1,412)
- Maryland ($1,406)
- Colorado ($1,384)
- Washington ($1,360)
Is rent expensive in Indiana?
The average rent for apartments in Indianapolis, IN, is between $1,074 and $1,357 in 2022. For a studio apartment in Indianapolis, IN, the average rent is $1,074. When it comes to 1-bedroom apartments, the average rent in Indianapolis, IN, is $1,098.
How much is house rent in US per month?
The average American renter pays $1,326 a month. For those looking to move, prices are even higher. The average asking rent is now $1,900 , with single-family houses averaging $2,018 a month, while a typical apartment costs an $1,659.
What is the best state to live in financially?
The five best states for your personal finances in 2022 are (No. 1 being best): Tennessee.
- New Jersey.
- Hawaii.
- Connecticut.
- Alaska.
- Illinois.
What U.S. city has the lowest cost of living?
Wichita Falls, Texas
Wichita Falls, Texas, was named the city with the lowest cost of living. Visit Business Insider’s homepage for more stories.