Median rent is 10% lower in Indianapolis ($1,156/mo vs $1,281/mo). Buying is cheaper in Indianapolis, where the median home runs $224,800 versus $294,500. Households earn more in St. Paul ($73,394 vs $66,219 a year). Taken together, Indianapolis is the more affordable choice with a cost index of 94.7 against 104.3 — about 9% lower overall prices.
Cost of living verdict
Indianapolis is 9% cheaper overall
Cost of Living Index: 94.7 in Indianapolis vs 104.3 in St. Paul (US national average = 100)
City A
Indianapolis, IN
City B
St. Paul, MN
How much would you need to earn in St. Paul, MN to maintain your standard of living from Indianapolis, IN?
Equivalent salary in St. Paul, MN
$82,648
You'd need $7,648 more (10% higher).
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
Indianapolis
Indiana
St. Paul
Minnesota
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
Median rent is modestly lower in Indianapolis at $1,156/mo compared to $1,281/mo in St. Paul (10% gap). Home buyers face a steeper market in St. Paul: the median home is $294,500 versus $224,800 in Indianapolis — 24% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
State tax data is not yet available for these cities.
Indianapolis
Income tax: N/A
Sales tax: N/A
St. Paul
Income tax: N/A
Sales tax: N/A
Indianapolis has cleaner air on average: 48.0 AQI (Good) compared to 55.0 AQI (Moderate) in the other city. Lower AQI means cleaner, healthier air.
Pick Indianapolis if you prioritize lower overall cost of living (index 94.7 vs 104.3).
Pick St. Paul if you prioritize higher median household income ($73,394/yr).
Pick Indianapolis if you prioritize cleaner air quality (avg AQI 48.0).
Is Indianapolis cheaper than St. Paul?
Indianapolis is cheaper overall, with a cost of living index of 94.7 versus 104.3 (US average = 100). That means prices run about 9% lower in Indianapolis.
How much is rent in Indianapolis vs St. Paul?
Median rent is $1,156/mo in Indianapolis, IN and $1,281/mo in St. Paul, MN. Indianapolis, IN has the lower rent by about 10%.
Which has higher salaries — Indianapolis or St. Paul?
Median household income is $66,219 in Indianapolis, IN and $73,394 in St. Paul, MN. St. Paul, MN has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Indianapolis, IN has better air quality on average: 48.0 AQI versus 55.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Indianapolis or St. Paul?
State tax data is not yet available for one or both cities.
What salary do I need in St. Paul to match my Indianapolis income?
To maintain the same purchasing power, a salary of $100,000 in Indianapolis, IN is equivalent to roughly $110,198 in St. Paul, MN (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
