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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 $183,240, lower than the Ohio average of $236,816.
The average cost of rent is $708/mo in Carmel, primarily driven by the current value of real estate in the Carmel area. In Carmel, 20.16% of households rent, and 63.58% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Carmel is $5,113 per month. Households that rent pay about 13.85% of their income on rent here. Carmel’s most expensive areas are in the central regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Rainsboro, OH: less expensive homes
- Marshall, OH: equally priced homes
- Barretts Mills, OH: less expensive homes
- Lincolnville, OH: equally priced homes
- Cynthiana, OH: less expensive homes
- Harriett, OH: higher priced homes
- North Uniontown, OH: higher priced homes
- Sinking Spring, OH: equally priced homes
- Boston, OH: equally priced homes
- Fruitdale, OH: less expensive homes
Cities with Similar Populations
- Old Gilroy, CA: higher priced homes
- New Era, GA: equally priced homes
- New Marion, IN: higher priced homes
- New Offenburg, MO: higher priced homes
- New Scotland, NY: higher priced homes
- Newcastle, OH: equally priced homes
- Newport, FL: higher priced homes
- Noonan, ND: higher priced homes
- Northland, WI: higher priced homes
- Oak Hill, NY: higher priced homes
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