Where Does Carmel, Indiana Rank in Wealth?

Carmel Indiana has been named one of the best places to live in the US for two consecutive years. Learn more about its wealth ranking & quality of life.

Where Does Carmel, Indiana Rank in Wealth?

Living in a good place is even better when you have your finances in order. The city of Carmel, Indiana, is no exception. With its second highest concentration of office workers in the state, an unemployment rate that is just over half the national average, excellent schools, a large sports and recreation center, a performing arts center and extensive bike lanes, it's no wonder why Carmel has been named the best place to live in the United States for two consecutive years. The study that determined this ranking looked at nearly 500 cities and considered household income, home values, the percentage of homes without a mortgage, and average credit limits.

The 91,065 residents of Carmel have a lot to be proud of. But what about their wealth? Carmel has a reputation for being an exclusive and wealthy area. While there are certainly many affluent residents, there are also those who can barely afford to live there. The quality of life is multifaceted, but it's fairly easy to see how the residents of Carmel have a great quality of life.

Roads are some of the nicest aspects of Carmel because Indianapolis may be known for its poor roads, which are constantly in need of repairs and potholes. Indiana is an incredibly fortunate state when it comes to public education, with some of the country's best educational opportunities open to Indiana taxpayers. However, if you're looking for public schools in Carmel, you're out of luck. Niche gave Carmel an A-Plus rating for its public schools, housing, labor market, health and fitness and family focus; an A lower on public safety; a B higher on nightlife, diversity and outdoor activities; a B rating on the cost of living and travel; and a B lower on climate.

Even if you can afford to buy or rent here, you'll certainly get less for your money in Carmel. With their own stores and services, residents can truly meet most of their daily needs without having to go to the rest of Indianapolis. But when it comes to interesting and unique dining options, there's not much available in Carmel.Extending through Carmel and the Arts District is the beautiful and paved Monon Trail, a 27-mile-long multi-purpose pedestrian and bicycle trail that extends to Sheridan from downtown Indianapolis. There's always something to do in Carmel with vibrant facilities like the Center for the Performing Arts, the Carmel Arts & Design District and Monon Trail.Carmel isn't the only Indianapolis suburb that's hard to “get into” when it comes to moving there.

Some nearby neighborhoods where you're much more likely to find something in that price range include Fishers, Westfield, Noblesville and modern-day Indianapolis. Zionsville is also an area of the Indianapolis metropolitan area that represents exclusive wealth and is home to people with decently high incomes.In conclusion, while there are certainly many affluent residents in Carmel who enjoy its excellent quality of life and amenities like the Monon Trail and Center for Performing Arts, there are also those who can barely afford to live there. With its A-Plus rating for public schools and other amenities like bike lanes and stores that meet most daily needs without having to go into Indianapolis proper, it's no wonder why Carmel has been named one of the best places to live in the United States.

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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