Indianapolis housing costs are 19% lower than the national average and utility prices are 2% lower than the national average. Transportation costs, such as bus and gas prices, are 6% lower than the national average Indianapolis has grocery prices 7% lower than the national average. Your housing money certainly goes a long way in Indianapolis. But it goes even further in another Hoosier city.
As notable as the numbers for Indianapolis are, it actually ranks second in terms of overall affordability in Indiana. SmartAsset, a technology company that makes financial models to help inform consumers about key decisions related to refinancing, student loans, retirement and the like, created its affordability index to locate the most affordable housing markets. Smart Asset also wanted to find out which counties in each state had the highest purchasing power, in other words, where would their money stretch the most? Indiana's top ten counties for purchasing power. Before you start looking for apartments in Indianapolis and looking for a good deal, you need to figure out how much you can afford rent.
The city is divided into four approximate quadrants, each dominated by one of the four health systems operating in Indianapolis, the largest of which is Clarian with three hospitals. Indianapolis offers an exceptional quality of life, especially to professionals just starting out or young families, as the cost of living is remarkably low compared to other nearby cities, especially large coastal metropolitan areas such as New York. Now that you have a wealth of information about the cost of living in Indianapolis, you can begin your apartment search. When you use the 30% rule, you can get a rough estimate of the salary needed to rent an apartment in Indianapolis comfortably.
In fact, most daily expenses are cheaper in Indianapolis than in other big American cities, while salaries are only fractionally lower than the national average. Housing costs and rent are probably the most important expenses when it comes to the cost of living in Indianapolis. Newcomers who like to enjoy a strange night out will find that Indianapolis caters to most tastes when it comes to fancy restaurants, fun bars and upscale clubs. Although healthcare in Indianapolis is said to be about six percent cheaper than the American average, it's still quite expensive and health plans should be carefully considered before expats move to the city.
Downtown Indianapolis, with its glittering skyscrapers and luxurious apartment living, is naturally more expensive than living a little further from the city center. We've put together a cost-of-living guide to help you determine if moving to Indianapolis is the right choice for you and your finances. As the state capital and the most populous city, Indianapolis has a lively and walkable center, the largest children's museum in the world, numerous sports teams and recreational trails. Future employment growth in Indianapolis is projected to increase by 37.5% over the next decade, which is significantly higher than the 33.5% growth rate in the U.
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