Cost of Living in Carmel, IN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
182.8
100 = national avg
+82.8 vs national average
Living Wage (1 Adult)
$80,444
per year
Living Wage (Family of 4)
$190,140
per year
Cost Index by Category
Housing196.7
Food152.9
Transportation205.8
Healthcare142.3
Utilities151.1
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,267
per month
2 Bedroom
$1,473
per month
The overall cost of living index in Carmel is 182.8, which is 82.8% above the national average. Housing costs are above the national average at an index of 196.7. A single adult needs to earn approximately $80,444 per year to cover basic expenses.