16 Cheapest Places to Live in Indiana

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Indiana is one of the most beautiful Midwestern states to experience.

You’ll find almost everything in Indiana, from forests to rural land to limestone quarries.

Indiana is welcoming and even perfect for retirees.

So, if you’re contemplating whether you should move to Indiana, this guide will provide you with the most affordable cities in the state to help you determine what’s best for you.

16 of the Cheapest Places to Live in Indiana

1. Muncie

Muncie, Indiana, is one of the cheapest towns in Indiana to live in.

The average household income here is $33,944, which gives you an idea of the cost of living.

There are nearly 70,000 residents who live in Muncie.

Muncie is known as a true treasure for those who are looking for plenty of opportunities.

Muncie has a lot to offer, from the David Owsley Museum of Art to the Cardinal Greenway Muncie Depot Trailhead.

Muncie also has plenty of parks, most of which are located along the White River.

2. New Castle

Coming in at number two on the list of the cheapest cities to live in the state of Indiana is New Castle.

The median household income is $38,545.

It’s located just 44 miles from Indianapolis.

It’s a small, rural city.

However, even though it’s a small town, it has a lot to offer residents living here.

The world’s largest high school gymnasium is located in New Castle, which once seated more than 10,000 visitors at a single event.

And if you love basketball, you can visit the Indiana Basketball Hall of Fame.

3. Richmond

Richmond, Indiana, is also one of the cheapest neighborhoods in the state, and for a very good reason.

The median household income in the state is $39,724.

Richmond is located just along the Indiana and Ohio borders.

There are various attractions and things to do for residents living here.

For example, downtown Richmond is home to a football museum, a science museum, and even the Gennett Mansion.

If you enjoy nature, you’ll enjoy hiking one of the various trails, including one that circles Morton Lake Dam and Thistlethwaite Falls.

4. Peru

Peru is another one of the most affordable towns in Indiana.

The median household income is $39,267.

Homeowners here pay an average property tax of $312.

Peru is a small town located near the Wabash River.

There are plenty of things to do and enjoy here.

If you love water, you’ll enjoy walking along the River Walkway Park.

If you’re looking for pure entertainment, you’ll enjoy watching performances and taking vintage pictures at the Circus City Festival Museum.

5. Marion

Marion also made the list of the most affordable cities in Indiana.

The median household income for residents living in Marion is $32,977.

Marion is located northeast of the capital city of Indiana.

It is located in Grant County.

Marion has its very own club, a water park, and even a university.

Residents who love quilting will enjoy the thrill at the Quilters Hall of Fame Museum.

Here, you’ll find plenty of artistic and varied quilt patterns.

6. Logansport

Logansport is located near Fort Wayne and Lafayette and is affordable for residents living here.

The median household income is $59,459.

Logansport borders both the Eel River and the Wabash River.

There are also plenty of parks and trails for those who enjoy nature.

Logansport is also home to outstanding wineries and restaurants located alongside the river.

This makes enjoying your meal even more relaxing.

7. Wabash

Wabash is certainly a town in Indiana that often captures the spotlight.

The town of Wabash is known for being the first electrically lit town on the entire earth.

It is a bright town to live in.

The median household income is $44,973.

In Wabash, residents can enjoy various means of entertainment.

The Honeywell Center is a great place to watch live performances, while the Charley Creek Gardens are ideal for greenery.

Whatever entertainment option you choose, you can feel confident that you’ll enjoy yourself.

8. Kokomo

The median household income in Kokomo, Indiana, is $45,797, making it another affordable city to live in.

The town is extremely charming and full of personality.

The Seiberling Mansion is located in Kokomo.

It is a vibrant home, built in 1889 and inspired by Queen Anne.

Kokomo has plenty of country clubs around town.

The Wildcat Creek flows throughout the town, which makes enjoying entertainment and restaurants much more exciting.

Kokomo also has a sports stadium and aquatic center located right in the city.

9. Huntington

Huntington, Indiana, is another one of the cheapest cities to reside in.

It’s nicknamed the “Lime City.”

It is known for having plentiful limestone quarries throughout the city.

Residents who live in Huntington can explore various trails, including the Lime City Trail.

For those who enjoy hiking and nature in general, Pehkokia Woods is another exciting adventure.

Huntington also has plenty of grocery stores, restaurants, and churches throughout the city.

The median household income in Huntington is $43,955.

10. Bloomington

Bloomington, Indiana, definitely stands out as being an affordable place to live.

The average rent for a one-bedroom apartment or home in Bloomington is $1,244.

It is known for being an economical town.

Overall, the cost of living in Bloomington is relatively cheap.

But besides living costs, Bloomington provides public transportation that is easily accessible for those living here.

Indiana University is also located in Bloomington, which drives the economy, giving the job market an extra boost.

Necessities and groceries are sensibly priced.

This enables residents to stick to a budget that works for them.

11. Fort Wayne

There are plenty of affordable housing options in Fort Wayne, Indiana.

The average rent for a one-bedroom is $1,241.

The affordable cost of living in Fort Wayne enables individuals and families to find the perfect home that lines up with their financial needs.

Fort Wayne also provides a plethora of amenities for residents to take advantage of.

In addition, Fort Wayne is full of job opportunities for a wide range of industries.

Finally, Fort Wayne serves the community by having various budget-friendly and easily accessible facilities throughout the area.

12. Hammond

Hammond, Indiana, is known for having a reasonable housing market.

The average cost of a one-bedroom for rent is $1,008.

This means that every individual and family can find something that meets their needs at a cost they can afford.

Hammond is conveniently located close to other cities, providing residents with ample employment opportunities.

Having this type of access gives residents the extra financial boost they need to survive.

Hammond is also known for having various food and dining options.

It truly stands out for its culinary diversity.

13. South Bend

South Bend, Indiana, is another cheap and affordable town to live in.

The average rent for a one-bedroom is just $885.

The community remains committed to providing residents living in South Bend with a healthy lifestyle.

There are plenty of recreational facilities and parks, all of which are well-maintained.

This allows residents to take advantage of a more active lifestyle without incurring extra costs.

South Bend is located near the University of Notre Dame.

This provides those living here with easy access to additional resources without putting a burden on their finances.

South Bend also offers excellent infrastructure, giving residents the ability to utilize public transit and save on commuting expenses.

14. Evansville

Evansville, Indiana, is known for having the lowest cost of living expenses.

The average rent paid for a one-bedroom in Evansville is $785.

Evansville also has some of the most affordable utility costs around.

This allows residents to effectively manage their finances.

Evansville also offers various community services and facilities in the area.

Residents can benefit from beautiful parks and plenty of open spaces to provide a better quality of life.

The job market in Evansville is plentiful.

Residents can find a variety of options that match their qualifications and skill set.

15. Gary

Gary, Indiana, is on the list of the most affordable places to live in the state.

The average rent paid for a one-bedroom is $700.

It’s strategically located in Indiana, providing residents easy access to highways, public transit, and nearby towns.

Gary is also known for having a variety of employment opportunities for residents living here.

Gary is a small town but has plenty of well-maintained parks and outdoor facilities for the community to enjoy.

Gary also offers affordable healthcare and assistance programs for those who need it.

16. Terre Haute

Last on the list of the most affordable places in Indiana is Terre Haute.

The average rent paid for a one-bedroom is $650.

Terre Haute offers plenty of green spaces and recreational activities for the community to enjoy.

Residents can take advantage of hiking trails and much more.

Terre Haute is located close to Indiana State University.

This provides residents with additional resources and job opportunities.

Indiana Safety Overview

READ THE FULL REPORT: Indiana Safety Review

Safety Index:

61

• OVERALL RISK: MEDIUM
• TRANSPORT & TAXIS RISK: LOW
• PICKPOCKETS RISK: LOW
• NATURAL DISASTERS RISK: LOW
• MUGGING RISK: MEDIUM
• TERRORISM RISK: MEDIUM
• SCAMS RISK: LOW
• WOMEN TRAVELERS RISK: MEDIUM