Cost of Living in Carmel, Indiana (2026)
COL Index
98
100 = US avg
1BR Rent
$1,450
per month
Median HHI
$92K
per year
State Tax
3.2%
income tax
Full cost breakdown
| Category | Carmel |
|---|---|
| 🏠 HousingQ1 2026 | |
| Studio rent/mo | $1,150 |
| 1BR rent/mo | $1,450 |
| 2BR rent/mo | $1,900 |
| Median home price | $380K |
| 🛒 Food & GroceriesQ1 2026 | |
| Groceries index (100 = US avg) | 99 |
| Budget meal (1 person) | $13 |
| Mid-range dinner (2 people) | $55 |
| 🚌 TransportationQ1 2026 | |
| Monthly transit pass/mo | $40 |
| Gas price/gal | $3.05 |
| Car insurance/mo | $136 |
| ⚡ UtilitiesQ1 2026 | |
| Utilities bundle (elec + gas + water)/mo | $152 |
| Internet/mo | $62 |
| 💰 Income & TaxesQ1 2026 | |
| Median household income/yr | $92K |
| State income tax rate | 3.2% |
| Sales tax (combined) | 7.0% |
| 📊 OverviewQ1 2026 | |
| Overall COL index (100 = US avg) | 98 |
| Walk score / 100 | 20 |
Is Carmel affordable on your salary?
How rent burden (1BR) changes across income levels. Under 30% is comfortable; above 40% is tight.
$40K
~$2,622/mo take-home
55% rent burden · Difficult
$50K
~$3,027/mo take-home
48% rent burden · Difficult
$60K
~$3,633/mo take-home
40% rent burden · Tight
$75K
~$4,541/mo take-home
32% rent burden · Manageable
$80K
~$4,843/mo take-home
30% rent burden · Manageable
$100K
~$6,054/mo take-home
24% rent burden · Comfortable
$120K
~$6,835/mo take-home
21% rent burden · Very comfortable
$150K
~$8,544/mo take-home
17% rent burden · Very comfortable
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Data: Zillow Observed Rent Index, BLS, Numbeo, Tax Foundation, US Census ACS · Q1 2026 · For general guidance only