Cost of living in Indianapolis: rent, homes and salary
The cost of living in Indianapolis comes in 4.3% under the US average: in 2024 the BEA figure for regional price parity (RPP) in the Indianapolis, IN metro area was 95.7, against 100 for the US, with housing alone at 88.9.
- Prices in general
- 95.7US = 100, BEA 2024
- Price level for housing
- 88.9. Rent levels, US = 100.
An index of Indianapolis cost of living
One place's price for a given basket of goods and services, measured against the US average of 100, is what a regional price parity tracks. Indianapolis belongs to the metro area of Indianapolis-Carmel-Greenwood, IN, which BEA prices as a single whole. Utilities sit furthest from the US average, at 86.4, or 13.6% below the US.
| Price level, US = 100 | Indianapolis, IN metro | Indiana | Metro against the US |
|---|---|---|---|
| All items | 95.7 | 93.3 | −4.3% |
| Goods | 94.3 | 95.5 | −5.7% |
| Housing (rents) | 88.9 | 73.9 | −11.1% |
| Utilities | 86.4 | 85.5 | −13.6% |
| Other services | 99.1 | 99.1 | −0.9% |
Regional price parities for metro areas and states, 2024, published by the Bureau of Economic Analysis (BEA), United States. BEA regional price parities
What rent costs in Indianapolis
Asking rent in Indianapolis typically runs $1,375 a month, from the Zillow Observed Rent Index, or ZORI. That index covers rent on homes listed now, which is +2.4% on a year. The US figure is $1,932. Census median gross rent is $1,219, and it counts every renting household, not only new leases. One year of the asking rent equals 25% of the median household income.
| Rent | Indianapolis | United States |
|---|---|---|
| Typical asking rent, Zillow ZORI | $1,375 | $1,932 |
| Asking rent, 12-month change | +2.4% | |
| Median gross rent, Census ACS 2024 | $1,219 | $1,487 |
| Asking rent for one year, as a share of median income | 25% | 28% |
One-year estimates, Census Bureau American Community Survey 2024; Zillow Observed Rent Index.
Indianapolis home prices
The Zillow Home Value Index (ZHVI) put the typical Indianapolis home at $227,445 in September 2026. It tracks the value of a typical home at the mid-market level. Over a year the change is −0.9%, while the US figure is $366,157. A home here costs 3.4 years of median household income, compared with 4.5 for the US.
| Home prices | Indianapolis | United States |
|---|---|---|
| Typical home value, September 2026 | $227,445 | $366,157 |
| 12-month change | −0.9% | +1.2% |
| 10-year change | +107.6% | +77.4% |
| Price to income (years of median income) | 3.4 | 4.5 |
| Price to rent (years of asking rent) | 13.8 | 15.8 |
Days on market, forecast, and a price chart since 2000: Indianapolis housing market.
What salary you need to live in Indianapolis
Two questions set the salary in Indianapolis that matches what your pay buys today: what you earn and where you live.
- Moving from:
- Salary
Every city side by side, plus the method behind it: cost of living comparison.
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Indianapolis cost of living compared with other cities
| City | Prices in general | Housing | Rent, typical | Home value, typical |
|---|---|---|---|---|
| Indianapolis | 95.7 | 88.9 | $1,375 | $227,445 |
| New York City | 112.6 | 148.6 | $4,089 | $825,854 |
| Los Angeles | 113.6 | 170.4 | $2,772 | $927,891 |
| Chicago | 103.6 | 112.0 | $2,311 | $334,108 |
| Houston | 98.6 | 104.5 | $1,544 | $259,465 |
| Phoenix | 103.3 | 121.2 | $1,571 | $404,067 |
| Philadelphia | 102.6 | 113.1 | $1,757 | $231,584 |
| San Antonio | 94.7 | 94.6 | $1,381 | $244,623 |
| San Diego | 111.9 | 179.3 | $3,004 | $980,490 |
BEA regional price parities, 2024, give the price levels, with US = 100. For rent, Zillow ZORI. Home values: Zillow ZHVI, September 2026.
A ranking of every city: cost of living comparison. Look at all fifty states: cost of living for each state.