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These days, finding an affordable place to live in the Carmel area can be challenging. Home prices in Carmel are now at a median cost of $512,447, higher than the Indiana average of $232,932.
The average cost of rent is $1,937/mo in Carmel, primarily driven by the current value of real estate in the Carmel area. In Carmel, 26.04% of households rent, and 31.53% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Carmel is $13,324 per month. Households that rent pay about 14.54% of their income on rent here. Carmel’s most expensive areas are in the western regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Westfield, IN: equally priced homes
- Williams Creek, IN: higher priced homes
- Meridian Hills, IN: higher priced homes
- Zionsville, IN: higher priced homes
- Noblesville, IN: less expensive homes
- Fishers, IN: less expensive homes
- Rocky Ripple, IN: less expensive homes
- Lamong, IN: less expensive homes
- Deming, IN: equally priced homes
- Big Springs, IN: equally priced homes
Cities with Similar Populations
- Fort Mill, SC: equally priced homes
- Denver, CO: higher priced homes
- Douglasville, GA: less expensive homes
- Danbury, CT: less expensive homes
- Davenport, IA: less expensive homes
- Downey, CA: higher priced homes
- Corona, CA: higher priced homes
- Davie, FL: less expensive homes
- Denham Springs, LA: less expensive homes
- Denton, TX: less expensive homes
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