Living in Carmel, Indiana
Cost of living, income, home prices, rent and demographics of Carmel · Census data 2020–2024
Carmel has 101,651 residents with a median age of 40.6. The median household income is $141,505 (97% higher than the Indiana median), the median home value is $486,800, the median rent is $1,712/month.
Carmel at a glance
- Population
- 101,651
- Median age
- 40.6State: 38.1
- Median household income
- $141,505State: $71,957
- Median home value
- $486,800State: $218,200
- Median rent
- $1,712/moState: $1,062
- Homeowners
- 74.3%
- Bachelor's degree or higher
- 74.4%
- Average commute
- 25 min
Is Carmel a good place to live?
Pros: Median household income 97% higher than the Indiana median; unemployment of 2.7%; a poverty rate of 3.9%.
Cons: Home values 123% higher than the state median; an average commute of 25 minutes.
The weather is best in June to September.
Cost of living in Carmel
Housing is the biggest part of the cost of living. In Carmel the median home value is $486,800, 46% higher than the U.S. median. Renters pay a median of $1,712 per month, which is 26.7% of household income. Homeowners with a mortgage pay $2,431 a month in housing costs.
Carmel median household income
The median household income in Carmel is $141,505 and the income per person is $73,549. 3.9% of residents live below the poverty line (Indiana: 12.3%).
Housing in Carmel: homes for sale and rent
- Housing units
- 40,859
- Owner-occupied
- 74.3%
- Renter-occupied
- 25.7%
- Vacant
- 6%Includes seasonal homes
- Median year built
- 1998
- Average household size
- 2.63
Carmel demographics
- Population
- 101,651
- Median age
- 40.6
- Under 18
- 24.5%
- 65 and older
- 14.7%
- Households
- 38,426
- Foreign-born
- 14.1%
- Veterans
- 4.2%Adults 18+
Hispanic or Latino can be of any race. Population history of Carmel ›
Education in Carmel
74.4% of adults 25 and older in Carmel have a bachelor's degree or higher (Indiana: 29.5%), and 31.7% have a graduate or professional degree.
Jobs and commute in Carmel
- Unemployment rate
- 2.7%State: 4.3%
- Average commute
- 25 minState: 24 min
- Work from home
- 27.4%
- Drive alone
- 66.6%
- Public transit
- 0%
- Walk to work
- 1.2%
- Homes with broadband
- 97.1%
Carmel vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Carmel | 101,651 | $141,505 | $486,800 | $1,712 |
| Williams Creek | 417 | $250,001 | $1,201,400 | — |
| Westfield | 54,677 | $122,789 | $425,700 | $1,667 |
| Meridian Hills | 1,767 | $211,528 | $661,700 | — |
| Crows Nest | 109 | $250,001 | $2,000,001 | — |
| Rocky Ripple | 631 | $72,813 | $194,800 | $1,463 |
| Hortonville | 229 | $71,518 | $280,400 | $1,080 |
| Noblesville | 73,362 | $104,047 | $349,700 | $1,389 |
| Zionsville | 32,095 | $172,024 | $587,800 | $1,792 |
More for people moving to Carmel
Carmel ZIP code ›Weather and climate ›Living in Carmel: FAQ
What is the median household income in Carmel, IN?
The median household income in Carmel is $141,505, 97% higher than the Indiana median of $71,957 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Carmel?
The median home value in Carmel is $486,800, compared with $218,200 in Indiana.
How much is rent in Carmel?
The median gross rent in Carmel is $1,712 per month, about 26.7% of household income.
Is Carmel, IN a good place to live?
Pluses: median household income 97% higher than the Indiana median; unemployment of 2.7%; a poverty rate of 3.9%. Minuses: home values 123% higher than the state median; an average commute of 25 minutes.
What is the median age in Carmel?
The median age in Carmel is 40.6 years (Indiana: 38.1).
How long is the commute in Carmel?
The average commute to work in Carmel is 25 minutes; 27.4% of workers work from home.
What is the unemployment rate in Carmel?
The unemployment rate in Carmel is 2.7% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Carmel?
74.4% of adults in Carmel have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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