Is Carmel an expensive place to live?
The cost of living index is calculated based on accumulating the cost of food, transportation, health services, rent, utilities, taxes, and miscellaneous.
3,869/5,673 cities in the US
16/105 cities in Indiana
Cost of Living compared to National Average
16/105 cities in Indiana
Cost of Living compared to Indiana
Cost of Living Comparison Calculator
Use our cost of living calculator to compare the cost of living between different locations and utilize our cost of living information to research living expenses in various areas.
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Assumptions Used to Calculate the Average Cost of Living in Carmel:
House SizeTwo Bedroom AptEdit
Ownership vs. RentRentEdit
The crime rate in Carmel is 0.70%. Crime rate is calculated by dividing the number of reported crimes by the total population.
The violent crime rate in Carmel is 0.05%. Violent crime rate is calculated by dividing the number of reported violent crimes (murder, robbery, and assault) by the total population.
The property crime rate in Carmel is 0.65%. Property crime rate is calculated by dividing the number of reported property crimes (burglary, larceny, motor vehicle theft, and arson) by the total population.
*The US National numbers are adjusted to be equivalent to Carmel's population of 103,540.
Description: Carmel () is a suburban city in Hamilton County, Indiana, United States, immediately north of Indianapolis. With a population of 99,757 as of the 2020 census, the city spans 49 square miles (130 km2) across Clay Township and is bordered by the White River to the east and the Boone County line to the west. Although Carmel was home to one of the first electronic automated traffic...
How expensive is it to live in Carmel?
Based on our Carmel cost of living calculator, Carmel is 7% less expensive than the national average and 7% more expensive to live in than the average city in Indiana. This assumes a $72,000 annual salary and a 2 Bedroom Apt. Food costs in Carmel are as affordable than average in the United States. Transportations costs in Carmel are more affordable than average in the United States. Housing costs in Carmel are more affordable than average in the United States. Health care costs in Carmel are more affordable than the US average.
What does it cost to move to Carmel?
The cost of moving to Carmel depends on a lot of factors. The biggest factor is the difference in cost of living between the two locations, which can be determined using
ERI's cost of living calculator. The other major factor is the distance between the two locations.
What is a cost of living index?
A cost of living index is a broad measurement of the cost of different expenses expected by the average person living in a certain location. Some of the categories tracked include health care costs, transportation, housing, groceries, and more. These numbers are tracked in specific locations to gauge how much it costs to live in a certain area over time.
Another good way to interpret this general number is to ask the question, "How many goods and/or services does a specific amount of money purchase in a given location?" An easy example would be that $100 goes further in Reno, Nevada, than it does in San Francisco, California. The goods and services tracked are need-based, meaning entertainment and other incurred expenses not required to live in a certain area are not tracked.
The main purpose of a cost of living index is to help a person quickly decide if moving from one location to another will increase or decrease quality of life.
How did we calculate our cost of living index?
Cost of living data are derived from ERI's cost of living surveys and web digitization of public domain records. Data are comprised of health care, transportation, housing, and grocery costs, which are then averaged out across the county. On the graphs above, the "0" represents the country’s average. The percentage can either be lower, expressed by a negative number, or higher than the national average, expressed by a positive number. The important part to remember is the locations are compared to an average of other locations.
What is cost of labor?
Cost of labor may sound like cost of living, but it refers to the price of labor as opposed to the cost to living in a location. Cost of labor refers to all the upfront costs that an employer must pay when hiring work from a particular area. This factors in costs such as the payroll taxes and required benefits when hiring from a particular location. This number is displayed as a percent average higher or lower than the national average. To see the cost of labor data for a particular location, please fill out this
quote form with your location of interest.