Median rent is 46% lower in Anderson ($925/mo vs $1,712/mo). Buying is cheaper in Anderson, where the median home runs $119,000 versus $486,800. Households earn more in Carmel ($141,505 vs $46,909 a year). Overall, the two cities have a nearly identical cost of living index (94.7).
City A
Anderson, IN
City B
Carmel, IN
How much would you need to earn in Carmel, IN to maintain your standard of living from Anderson, IN?
Equivalent salary in Carmel, IN
$75,000
Costs are about the same in both cities.
Based on BEA Regional Price Parity (cost index) for each metro area. This estimates overall purchasing power; it does not account for taxes or take-home pay differences.
Metric
Anderson
Indiana
Carmel
Indiana
Population
Median Household Income
Annual
Median Gross Rent
Per month
Median Home Value
Cost of Living Index
US avg = 100
1BR Fair Market Rent
HUD FMR
2BR Fair Market Rent
HUD FMR
3BR Fair Market Rent
HUD FMR
Air Quality Index
Lower = cleaner
Top State Income Tax
Top marginal rate
State Sales Tax
Statewide base rate
Median Age
Years
✓ = better value · Sources: Census ACS, BEA, HUD Fair Market Rents, EPA AirNow, Tax Foundation
Renters will find significantly cheaper housing in Anderson — median rent of $925/mo versus $1,712/mo in Carmel, a 46% difference. Home buyers face a steeper market in Carmel: the median home is $486,800 versus $119,000 in Anderson — 76% more expensive.
Metric
Anderson
Carmel
Software Developer
Registered Nurse
Elementary Teacher
Electrician
Accountant
Higher wage highlighted · BLS OEWS 2023 (metro-level data)
State tax data is not yet available for these cities.
Anderson
Income tax: N/A
Sales tax: N/A
Carmel
Income tax: N/A
Sales tax: N/A
Air quality data is not yet available for these cities.
Pick Carmel if you prioritize higher median household income ($141,505/yr).
Pick Anderson if you prioritize cheaper rent ($925/mo median).
Anderson is cheaper overall, with a cost of living index of 94.7 versus 94.7 (US average = 100). That means prices run about 0% lower in Anderson.
Median rent is $925/mo in Anderson, IN and $1,712/mo in Carmel, IN. Anderson, IN has the lower rent by about 46%.
Median household income is $46,909 in Anderson, IN and $141,505 in Carmel, IN. Carmel, IN has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Air quality data is not yet available for one or both cities.
State tax data is not yet available for one or both cities.
To maintain the same purchasing power, a salary of $100,000 in Anderson, IN is equivalent to roughly $100,000 in Carmel, IN (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: June 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
