2026 Affordability Data
Most Affordable Neighborhoods in Carmel - 2026 Data
The median home value in Carmel is $425,900, 51% above nat'l avg. Median rent is $1,013/month. With an affordability index of 159, Carmel is more affordable than the national baseline of 100. We ranked 15 neighborhoods by affordability to help you find the best value in the Carmel, IN area.
Key Takeaways: Affordability in Carmel
- 1The most affordable neighborhood in Carmel is McCordsville, with a median home value of $298,800.
- 2Carmel's median home value is $425,900, 51% above nat'l avg (national: $281,900).
- 3Carmel's affordability index is 159 (baseline 100), making it more affordable than the national average.
- 4Median rent in Carmel is $1,013/month, 13% below nat'l avg (national: $1,163/month).
- 5We analyzed 15 neighborhoods in Carmel to find the most affordable areas based on home values, rent, and affordability index.
Carmel Affordability Overview
Median Home Value
$425,900
51% above nat'l avg
Median Rent
$1,013/mo
13% below nat'l avg
Median Income
$132,859
78% above nat'l avg
Affordability Index
159
59% above nat'l avg
Most Affordable Neighborhoods in Carmel (Ranked)
| Rank | Neighborhood | Median Home Value |
|---|---|---|
| 1 | McCordsvilleIN | $298,800 |
| 2 | MishawakaIN | $128,200 |
| 3 | AuburnIN | $147,300 |
| 4 | KokomoIN | $118,400 |
| 5 | AndersonIN | $101,700 |
| 6 | WashingtonIN | $117,700 |
| 7 | LafayetteIN | $145,200 |
| 8 | GaryIN | $81,800 |
| 9 | BedfordIN | $123,200 |
| 10 | NoblesvilleIN | $295,700 |
| 11 | SpeedwayIN | $178,000 |
| 12 | South BendIN | $113,800 |
| 13 | Cedar LakeIN | $231,300 |
| 14 | ElkhartIN | $119,300 |
| 15 | Terre HauteIN | $99,600 |
Detailed Neighborhood Profiles
Home Value: $298,800
Rent: $945/mo
Affordability: 184
Population: 9,098
Walk Score: 47/100
Home Value: $128,200
Rent: $1,013/mo
Affordability: 159
Population: 50,899
Walk Score: 47/100
Home Value: $147,300
Rent: $1,013/mo
Affordability: 159
Population: 13,316
Walk Score: 47/100
4
Home Value: $118,400
Rent: $1,013/mo
Affordability: 159
Population: 59,534
Walk Score: 47/100
5
Home Value: $101,700
Rent: $1,013/mo
Affordability: 159
Population: 55,011
Walk Score: 47/100
6
Home Value: $117,700
Rent: $1,013/mo
Affordability: 159
Population: 12,076
Walk Score: 47/100
7
Home Value: $145,200
Rent: $1,013/mo
Affordability: 159
Population: 70,828
Walk Score: 47/100
8
Home Value: $81,800
Rent: $1,013/mo
Affordability: 159
Population: 69,136
Walk Score: 47/100
9
Home Value: $123,200
Rent: $1,013/mo
Affordability: 159
Population: 13,802
Walk Score: 47/100
10
Home Value: $295,700
Rent: $1,013/mo
Affordability: 159
Population: 70,442
Walk Score: 47/100
11
Home Value: $178,000
Rent: $1,013/mo
Affordability: 159
Population: 13,646
Walk Score: 47/100
12
Home Value: $113,800
Rent: $1,013/mo
Affordability: 159
Population: 103,084
Walk Score: 47/100
13
Home Value: $231,300
Rent: $1,013/mo
Affordability: 159
Population: 14,215
Walk Score: 47/100
14
Home Value: $119,300
Rent: $1,013/mo
Affordability: 159
Population: 53,785
Walk Score: 47/100
15
Home Value: $99,600
Rent: $1,013/mo
Affordability: 159
Population: 58,599
Walk Score: 47/100
Frequently Asked Questions About Affordability in Carmel
What is the most affordable neighborhood in Carmel, IN?▾
Based on 2026 data, McCordsville is the most affordable neighborhood in Carmel with a median home value of $298,800. Kurby analyzed 15 neighborhoods in the Carmel area to compile these rankings.
What is the median home price in Carmel, IN?▾
The median home price in Carmel is $425,900, which is 51% above nat'l avg. The national median home value is $281,900 (Source: Kurby, 2026).
Is Carmel affordable compared to the national average?▾
Carmel has an affordability index of 159, which means housing is more affordable than the national baseline of 100. An index above 100 indicates that a median-income household can afford a median-priced home in the area.
What is the average rent in Carmel, IN?▾
The median monthly rent in Carmel is $1,013. This is 13% below nat'l avg. The national median rent is $1,163/month (Source: Kurby, 2026).
What is the median household income in Carmel?▾
The median household income in Carmel is $132,859 compared to the national median of $74,580. This metric is important for understanding housing affordability in relation to local earning power (Source: Kurby, 2026).
How many neighborhoods in Carmel are below the national average home price?▾
13 out of 15 ranked neighborhoods in Carmel have a median home value below the national average of $281,900. The most affordable is Mishawaka at $128,200 (Source: Kurby, 2026).