Indianapolis-Carmel, IN vs Columbus, IN
A 2-bedroom in Columbus costs $58 less per month than Indianapolis-Carmel ($1,415 vs $1,473). Median income is $77,065 in Indianapolis-Carmel and $80,365 in Columbus. That's a difference of $696 per year in housing costs.
Side-by-Side Comparison
| Metric | Indianapolis-Carmel | Columbus |
|---|---|---|
| Studio FMR | $1,118 | $1,233 |
| 1BR FMR | $1,267 | $1,257 |
| 2BR FMR | $1,473 | $1,415 |
| 3BR FMR | $1,907 | $1,697 |
| 4BR FMR | $2,338 | $2,000 |
| Median Income | $77,065 | $80,365 |
| Rent Burden | 22.9% | 21.1% |
| Actual Median Rent | $1,142 | $1,110 |
| Median Home Value | $244,000 | $221,100 |
| Population | 2.1M | 83K |
| Renter % | 33.4% | 30.1% |
| Vacancy Rate | 7.8% | 7.1% |
| Poverty Rate | 10.5% | 12% |
| YoY Change | +9.2% | +18.3% |
| Min Wage | $7.25/hr | $7.25/hr |
Income Required to Afford a 2-Bedroom
Frequently Asked Questions
Columbus, IN is more affordable with a 2BR FMR of $1,415/mo, which is $58 less than Indianapolis-Carmel at $1,473/mo. However, when considering local incomes, Indianapolis-Carmel has a rent burden of 22.9% vs 21.1% in Columbus.
A 2-bedroom in Indianapolis-Carmel, IN costs $1,473/mo at Fair Market Rent, while in Columbus, IN it's $1,415/mo, a difference of $58/mo or $696/year.
To afford a 2BR without spending more than 30% of income on rent: Indianapolis-Carmel requires $58,920/year ($28/hr). Columbus requires $56,600/year ($27/hr).