Indianapolis vs Carmel
The short version
- Overall prices are about the same in both metro areas (BEA 2024).
- The median home costs $224,800 in Indianapolis and $486,800 in Carmel.
- Households earn more in Carmel ($141,505 vs $66,219 median).
- Carmel is growing faster: +5.9% since 2020 vs +1.5%.
Side by side
| Indianapolis, IN | Carmel, IN | |
|---|---|---|
| People | ||
| Population (2025) | 901,116 | 105,634 |
| Growth since 2020 | +1.5% | +5.9% |
| People per square mile | 2,496 | 2,152 |
| Median age | 34.3 | 40.6 |
| Bachelor's degree or higher | 35% | 74% |
| Money and housing | ||
| Median household income | $66,219 | $141,505 |
| Median home value | $224,800 | $486,800 |
| Home value to income | 3.4× | 3.4× |
| Median rent (with utilities) | $1,156 | $1,712 |
| Metro price level (US = 100) | 95.7 | 95.7 |
| Housing price level (US = 100) | 88.9 | 88.9 |
| $75,000 elsewhere equals | $71,800 | $71,800 |
| Homeowners | 56% | 74% |
| Top state income tax | 2.95% | 2.95% |
| Combined sales tax | 7% | 7% |
| Work and commute | ||
| Average commute (minutes) | 24.6 | 24.6 |
| Work from home | 14% | 27% |
| Take public transit | 1% | 0% |
| Unemployment (2020-24 avg) | 5.1% | 2.7% |
| Poverty rate | 15.8% | 3.9% |
| Weather | ||
| January high / low | 36° / 21° | 36° / 20° |
| July high / low | 85° / 66° | 85° / 65° |
| Precipitation per year | 44 in | 47 in |
| Snowfall per year | 26 in | 27 in |
| Days 90°F or hotter | 20 | 19 |
| Nights below freezing | 105 | 113 |
| Comfortable months | 5 | 3 |
| Risks, air and home prices | ||
| Natural hazard risk (FEMA, county) | Relatively High | Relatively Moderate |
| FEMA risk score (lower is safer) | 97.5 | 88.8 |
| Good air days, 2025 | 38% | 38% |
| Home prices, past year | +3.5% | +3.5% |
| Home prices, past 5 years | +43.8% | +43.8% |
Highlighted cells are the better value where "better" is clear (lower prices, higher income, shorter commutes). Sources: Census Bureau 2025 estimates and ACS 2020-2024, BEA 2024, NOAA 1991-2020, Tax Foundation 2026.
Weather, month by month
Most comfortable months: Indianapolis: April and July to October. Carmel: August to October.
Full monthly tables: Indianapolis weather by month and Carmel weather by month.
What $75,000 is worth
A $75,000 salary in an average-priced US city buys about the same as $71,800 in Indianapolis and $71,800 in Carmel. Moving from Indianapolis to Carmel, you would need about $75,000 to match a $75,000 salary.
Moving between Indianapolis and Carmel
IRS county-to-county migration, 2022 to 2023 tax years, for the counties that contain each city. See where else people move from Indianapolis and Carmel.
Which would you pick?
One vote per person. Results show after you vote.