We used data and science to identify the places in the Hoosier State that will leave you broke.
There are some parts of the country where your dollar goes further. For example, a steak dinner in Indianapolis costs a lot less than a steak dinner in San Francisco.
And the cost of living can have a big impact on how far your hard earned salary stretches. If you have a choice in where you can live for your job, the cost of living can play a big part.
That’s where Zippia comes in; to show you the places that would eat up a big part of your paycheck on expenses — the San Franciscos of the world if you will. Where housing is relatively cheap and you can get a good meal for less.
These are the places in Indiana where the cost of living is actually higher than the national average because, for the most part, Indiana isn’t all that expensive.
After we crunched all the numbers, we were left with this set of the least affordable places to live:
Read on to see how we determined the places that try to keep up with the Joneses a little too much.
There are basic necessities that you have to buy no matter where in the country you live. Those things include:
You can then compare the cost of these things in each of the places in Indiana to figure out which is the most expensive.
What you are left with is a “Cost of Living Index” that normalizes to 100 for an average place in the United States. And lucky for us, Sperling’s Best Places has such an index for us.
So we used that cost of living index in order to rank all of the 102 places in Indiana that have more than 5,000 people.
And just so you can better understand how the cost of living index works, 100 is the average cost of a place in the United States. A score of 90 means that the place cost 10% less than average. A score of 120 means it’s 20% more expensive.
San Francisco has a score of 243 meaning it’s almost 2.5 times as expensive as the average place in the country.
Median Home Price: $410,600
Cost Of Living Index: 144
Median Home Price: $250,300
Cost Of Living Index: 114
Median Home Price: $236,000
Cost Of Living Index: 112
Median Home Price: $205,300
Cost Of Living Index: 110
Median Home Price: $193,200
Cost Of Living Index: 108
Median Home Price: $211,600
Cost Of Living Index: 107
Median Home Price: $184,600
Cost Of Living Index: 106
Median Home Price: $182,800
Cost Of Living Index: 106
Median Home Price: $181,200
Cost Of Living Index: 105
Median Home Price: $213,300
Cost Of Living Index: 104
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