Cheapest Places to Live in Indiana (2026)
Looking for the most affordable cities in Indiana? We ranked 17 Indiana cities by median home value. The cheapest is Gary (~$77,000); the Indiana median is $234,000.
Most affordable cities in Indiana
Ranked by median home value, lowest first:
| # | City | Median home value | $ / sq ft |
|---|---|---|---|
| 1 | Gary | $77,000 | $100 |
| 2 | Muncie | $142,000 | $121 |
| 3 | Hammond | $170,000 | $146 |
| 4 | South Bend | $178,000 | $149 |
| 5 | Terre Haute | $178,000 | $123 |
| 6 | Anderson | $180,500 | $130 |
| 7 | Evansville | $210,000 | $145 |
| 8 | Fort Wayne | $216,500 | $153 |
| 9 | Elkhart | $244,000 | $154 |
| 10 | Indianapolis | $253,500 | $152 |
Most expensive cities in Indiana
The priciest Indiana markets by median home value:
| # | City | Median home value | $ / sq ft |
|---|---|---|---|
| 1 | Carmel | $587,000 | $221 |
| 2 | Fishers | $475,000 | $171 |
| 3 | Valparaiso | $347,000 | $189 |
| 4 | Bloomington | $325,000 | $194 |
| 5 | Jasper | $304,000 | $240 |
| 6 | Lafayette | $264,000 | $173 |
| 7 | Warsaw | $256,000 | $199 |
| 8 | Indianapolis | $253,500 | $152 |
| 9 | Elkhart | $244,000 | $154 |
| 10 | Fort Wayne | $216,500 | $153 |
How we rank Indiana cities
Rankings use the typical (median) home value for each city from public market data (Realtor.com & Zillow research). Affordability also depends on incomes, taxes, and cost of living — see each city page for local detail. Directional estimates, not appraisals.
Explore all Indiana home values, estimate any home with the Home Value Estimator, or see where your budget goes furthest nationwide.
Indiana affordability: FAQ
What is the cheapest place to live in Indiana? +
Based on median home value, Gary is among the most affordable cities in Indiana, with a typical home around $77,000 — well below the Indiana median of $234,000.
What is the most expensive city in Indiana? +
By median home value, Carmel is among the priciest in Indiana, with a typical home around $587,000.
Is Indiana an affordable place to live? +
The median home value in Indiana is about $234,000 (19% more affordable than the U.S. median of $289,000), but prices vary widely by city — from around $77,000 to $587,000.