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.

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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