Cost of Living in Carmel, IN
Population: 100,501 • 2026 Data
$134,602
Median Household Income
+74% vs national
$1,607
Median Monthly Rent
+19% vs national
$455,500
Median Home Value
+34% vs national
2.7%
Unemployment Rate
Housing in Carmel
The median home value in Carmel, IN is $455,500. Monthly rent for a typical unit averages $1,607, while total monthly housing costs (including utilities and insurance) average $1,735.
Rent-to-income ratio: 14.3%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Carmel, IN is $134,602. The unemployment rate stands at 2.7%, with a labor force of 54,967 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.