City profile
Indianapolis, IN cost of living
IN · BLS RPP 93.7
Overall RPP
93.7
US = 100
Housing RPP
84.6
Housing component
Goods RPP
93
Goods component
2-BR Rent (HUD)
$1,349/mo
FY2024 FMR
Where Indianapolis, IN sits in the verified metro set
RPP rank
#52 of 67
-6.3 vs U.S. average
Vs median metro
-4.7
median RPP 98.4
2-BR rent rank
#45 of 67
-257/mo vs median verified metro
RPP ranks use only verified ReloMath metro records. Sources: BEA Regional Price Parities by MSA, 2022 (Table 4); HUD FY2024 Fair Market Rents (2-BR); reviewed June 2026. These are official published averages, not neighborhood-level prices.
Who’s moving in and out of Indianapolis, IN
IRS tax-return migration · 2021-2022Cost of living is only half the relocation question. The other half is which way people are actually voting with their feet, straight from IRS tax-return migration for the Indianapolis, IN metro.
Moved in
116,917
people · 66,918 households
Moved out
114,852
people · 65,915 households
Net
+2,065
net gain of residents
Net migration rank
#25 of 65
among IRS-covered ReloMath metros
Vs median net flow
+2,169
median -104 people
Largest flow share
1% in / 1% out
top named county shares
Where new residents came from
- Cook County, IL 1,624
- Monroe County, IN 1,418
- Delaware County, IN 1,354
- Bartholomew County, IN 1,248
- Tippecanoe County, IN 1,120
Where residents moved to
- Delaware County, IN 1,389
- Cook County, IL 1,348
- Bartholomew County, IN 1,169
- Monroe County, IN 1,141
- Putnam County, IN 1,117
Counts are IRS tax filers (returns ≈ households, individuals ≈ exemptions) who changed address between 2021-2022. Flows too small for IRS to disclose are grouped and excluded from the named lists. Source: IRS SOI county-to-county migration data ↗, mapped to metros via the U.S. Census CBSA delineation.
What salary do you need in Indianapolis, IN?
Equivalent salary to maintain the same purchasing power as in a US-average city (RPP 100).
| In US-average city | You need in Indianapolis, IN | Formula |
|---|---|---|
| $50,000 | $46,850 | $50,000 x (93.7/100) |
| $75,000 | $70,275 | $75,000 x (93.7/100) |
| $100,000 | $93,700 | $100,000 x (93.7/100) |
| $125,000 | $117,125 | $125,000 x (93.7/100) |
| $150,000 | $140,550 | $150,000 x (93.7/100) |
| $200,000 | $187,400 | $200,000 x (93.7/100) |
This tool provides estimates only. Equivalent-salary figures are derived from BLS Regional Price Parities (RPP) and HUD Fair Market Rents — they are averages, not guarantees. Actual cost of living varies by neighborhood, lifestyle, and individual circumstances. Not financial advice.
State income tax note
Indiana flat income tax 3.15% + county tax.
Frequently asked questions
- What is the cost of living in Indianapolis, IN?
- Indianapolis, IN has a BLS Regional Price Parity of 93.7 (US average = 100). It is 6.3% less expensive than the national average.
- What salary do I need to live in Indianapolis, IN?
- If you earn $100,000 in a US-average city (RPP 100), you would need approximately $93,700 in Indianapolis, IN to maintain the same purchasing power.
- What is the average rent in Indianapolis, IN?
- The HUD Fair Market Rent for a 2-bedroom in Indianapolis, IN is approximately $1,349 per month as of FY2024.
- Are people moving to or away from Indianapolis, IN?
- Based on IRS tax-return migration data for 2021-2022, about 116,917 people moved into the Indianapolis, IN metro and 114,852 moved out — a net gain of roughly 2,065 residents. The largest single source of new residents was Cook County, IL.
Curated nearby & similar cities
Similar verified metros by RPP
These links are chosen by data proximity: closest overall RPP to Indianapolis, IN, with HUD 2-BR rent as a tie-breaker.
Curated cost-of-living comparisons for Indianapolis, IN
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