Carmel, 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 $1,712 per month, while the typical home is valued around $486,800. Households earn a median of $141,505 per year, leaving rent at a manageable share of income for many residents. 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
$141,505
Annual · Census ACS
Median Gross Rent
$1,712
Per month · Census ACS
Median Home Value
$486,800
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
101,651
Latest estimate
Median Age
40.6 yrs
Census ACS
🌬️
AQI data not available
Source: EPA AirNow
Total Neighborhoods
5
Tracked in our database
Avg Walk Score
44
0–100 scale
Avg Median Rent
$1,232
Per month
Avg Home Value
$295,880
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
32.4
poor
Hospitals
4
Doctors per 1,000
1.00
Insurance Coverage
96.7%
What is the cost of living index for Carmel?
Carmel has a Regional Price Parity (RPP) index of 94.7. The US national average is 100, so Carmel is 5.3 points below the national average.
What is the median rent in Carmel?
The median gross rent in Carmel is $1,712 per month according to US Census ACS data.
What is the median household income in Carmel?
The median household income in Carmel is $141,505 per year.
What is the median home value in Carmel?
The median home value in Carmel is $486,800 based on the latest Census ACS survey.
How is the air quality in Carmel?
Air quality data for Carmel is not yet available.
What are the taxes like in Carmel?
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
