Indianapolis, Indiana has an overall cost of living index of 94.7, which is 5.3 points below the US average of 100 — making it more affordable than most American cities. Renters pay a median of $1,156 per month, while the typical home is valued around $224,800. Households earn a median of $66,219 per year, leaving rent at a manageable share of income for many residents. Air quality is good, with an average AQI of 48. Below: housing costs, local wages by occupation, neighborhoods, climate, jobs and major industries, and healthcare access — all drawn from US Census, BEA, BLS, HUD, EPA, and NOAA data.
Median Household Income
$66,219
Annual · Census ACS
Median Gross Rent
$1,156
Per month · Census ACS
Median Home Value
$224,800
Census ACS
Cost of Living Index
94.7
BEA RPP · US avg = 100
Studio FMR
$1,118
HUD Fair Market Rent
1BR Fair Market Rent
$1,267
HUD FMR
2BR Fair Market Rent
$1,473
HUD FMR
3BR Fair Market Rent
$1,907
HUD FMR
HUD Fair Market Rent = 40th percentile gross rent · FY2024
Each category is indexed to the US average of 100. Below 100 = cheaper than average.
Overall
94.7
Goods
94.8
Rents / Housing
87.0
Services
85.6
Source: BEA Regional Price Parities (metro-level)
| Occupation | Median Annual Wage |
|---|---|
| 💻Software Developer | $112,680 |
| 🏥Registered Nurse | $89,290 |
| 📚Elementary Teacher | $61,380 |
| ⚡Electrician | $67,730 |
| 📊Accountant | $86,150 |
| 🔧Plumber | $69,600 |
| ⚕️Nurse Practitioner | $322,240 |
| 🏗️Civil Engineer | $99,880 |
| 👔Operations Manager | $150,240 |
| 📈Market Research Analyst | $75,140 |
| 🏢Health Services Manager | $118,750 |
| 🚛Truck Driver | $63,870 |
| 👨⚕️Physician Assistant | N/A |
| 🩺Surgeon | N/A |
| 🧮Data Scientist | N/A |
| 🖥️Computer Engineer | $103,900 |
Source: BLS OEWS 2023 (metro-level data)
Population
885,860
Latest estimate
Median Age
34.3 yrs
Census ACS
Average AQI
48.0
Source: EPA AirNow
Total Neighborhoods
5
Tracked in our database
Avg Walk Score
44
0–100 scale
Avg Median Rent
$1,303
Per month
Avg Home Value
$323,325
Census ACS
January Avg
28°F
July Avg
76°F
Sunny Days / Year
—
Annual Snowfall
—
Climate category: Continental · Source: NOAA/NCEI 30-year normals.
Healthcare Score
30.9
poor
Hospitals
15
Doctors per 1,000
1.00
Insurance Coverage
91.2%
What is the cost of living index for Indianapolis?
Indianapolis has a Regional Price Parity (RPP) index of 94.7. The US national average is 100, so Indianapolis is 5.3 points below the national average.
What is the median rent in Indianapolis?
The median gross rent in Indianapolis is $1,156 per month according to US Census ACS data.
What is the median household income in Indianapolis?
The median household income in Indianapolis is $66,219 per year.
What is the median home value in Indianapolis?
The median home value in Indianapolis is $224,800 based on the latest Census ACS survey.
How is the air quality in Indianapolis?
Indianapolis has an average Air Quality Index (AQI) of 48.0, which is rated "Good" by the EPA. Lower AQI values indicate cleaner air.
What are the taxes like in Indianapolis?
Tax data for Indiana is not yet available.
Data last updated: December 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
