What is the Cost of Living in Carmel, Indiana?

Curious about what it costs to live in Carmel, Indiana? Learn about state income tax rates, average home rental prices, average property values, cost of living index, and more.

What is the Cost of Living in Carmel, Indiana?

Is it expensive to live in Carmel, Indiana? When it comes to calculating the cost of living in this city, there are several factors to consider, such as state income tax rates, average home rental prices, average property values, cost of living index, and more. You'll find that in other cities in Indiana, you might be able to buy a house with a patio, a nice back porch, and maybe even a pool for the same price as a one-story, two-bedroom house with almost no patio would cost in Carmel. I recently spoke to a colleague who had just moved here from Boston and he was amazed at how friendly everyone is in Carmel. Wendy and her husband have been living here for around 34 years and have raised four children in the Indianapolis region.

When you move to a new place, one of the first things you need to do is figure out what your cost of living will be. Thankfully, there are plenty of resources out there that can help you get an idea of how much living expenses will be in your new home state.


Carmel is a great place to live, and the cost of housing here is relatively affordable. In fact, you can find some amazing deals on condos and townhomes here.

The city is also home to many restaurants, cafes, and parks. This makes it a great place for families to live.

It’s also a good option for people who want to get away from the big city and enjoy life in a more suburban environment. You can also find a lot of schools and a low crime rate here.

In addition, it’s a place where you can meet new people and make friends easily. This makes it a great place to move to and start a new career.

The city is also known for its outstanding schools and a large population of college-educated adults. This means that it’s a great place for families to live and raise their children.


Whether you're moving to a new city or simply planning your next move, figuring out what the cost of living is in your new home can help you get a sense of your potential budget. Start by examining the different costs that are important to consider, like housing and transportation, before you make your final decision on your new place to live.

One of the biggest living expenses in any area is food. In Indiana, the average individual spends around $4,010 on meals each year.

For a family of four, the figure is $11,812 a year. It's important to make sure you have a healthy diet and eat well-balanced meals.

It's also a good idea to plan for entertainment and leisure activities that can add up quickly. In addition to a variety of dining options, there are plenty of local sports teams and events to enjoy in Carmel.

With so many top-rated schools and a low crime rate, Carmel is a fantastic place to raise your family. In fact, it has been ranked as the best place to raise a family in the United States for multiple years.


Getting around the state of Indiana is not cheap. Gas prices are on the higher side, especially in Indianapolis, but car insurance is relatively inexpensive.

Renting a home in Indiana is also relatively affordable. In fact, a typical home costs less than 2/3rds of the national average.

This is a great way to save money and still have an adequate lifestyle. Besides, a home in Carmel is usually more spacious than a small apartment.

The city has a low crime rate and is one of the safest places in the country to live. It also has a large shopping mall, a university, and many other attractions.

For seniors, there are plenty of ways to enjoy living in Indiana. For example, you can rent a house with a roommate and split the cost of living, or you can find a retirement community with a low cost of living.


Carmel Indiana is an ever-growing suburb of Indianapolis that retains its small-town charm, making it a highly sought-after place to live. CNN Money Magazine named it one of the best places to live in the country in 2012.

The city is thriving, with an array of dining options, shopping and entertainment options. The downtown area is home to the Arts & Design District, where visitors can find unique specialty shops and restaurants that will make them want to return time and again.

There is also a number of performing arts venues around the city, including The Palladium, which is the crown jewel of Carmel's music and entertainment scene. You can catch symphonies, comedy sets and more at this world-class concert hall.

The area between the Palladium and Tarkington theaters turns into a Christmas market during the holiday season. Grab a glass of Gluhwein and browse wooden booths full of German-imported goodies. It's a great way to spend an afternoon with friends or family and enjoy the beauty of Carmel at this time of year.

Carmel isn't the only Indianapolis suburb that's hard to “get into” when it comes to relocating there. There is a clear reputation that has been following the residents of Carmel for a long time - that they are all wealthy and very anxious. So if you want to stay up-to-date with local events in Carmel, you can stay informed and never miss out on a great opportunity. All the beautiful infrastructure, entertainment options and well-maintained roads that Carmel offers come at a price.

More than 125 corporate headquarters are based in Carmel and all of Indianapolis can be reached within 30 minutes by car. Taking into account these taxes (excluding taxes collected at the federal level), Carmel residents live in a state with a low average tax burden. The Monon Trail is also an attraction - it's a 27-mile-long multi-purpose pedestrian and bicycle trail that extends from downtown Indianapolis to Sheridan, Indiana and passes through Carmel and the Arts District. Many families are moving into homes that they can barely afford so that their children can attend these great schools and benefit from the quality of life available in the Carmel area.

But what is it really like to live in the best city in the United States? I've been living here for around 34 years and my family has gotten to know the city quite well over the years. While the overall cost of living in Carmel is comparable to most other cities in the Midwest (as it's below the national average), relatively high housing prices make Carmel an unviable option for many people. For example, Zionsville is also an area of the Indianapolis metropolitan area that represents exclusive wealth and is home to people with decently high incomes, yet it is much smaller than Carmel.

Lorene Batteiger
Lorene Batteiger

Unapologetic web scholar. Lifelong zombie ninja. Certified travel evangelist. General pizza aficionado. Devoted beer ninja. Unapologetic travel advocate.

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