Cost of Living in Carroll County, Indiana
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Carroll County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Carroll County ranks #460 of 3,144 counties for affordability (top 15%)
Data Story
About Cost of Living in Carroll County, Indiana
Carroll County offers modest rural affordability
Carroll County renters spend 16.4% of income on housing—below national affordability thresholds despite a median household income of $64,003, slightly below the U.S. average of $74,755. At $874 monthly rent, this north-central county delivers reasonable housing relief for rural Hoosiers earning modest incomes.
Slightly above Indiana's affordability standard
Carroll County's rent-to-income ratio of 16.4% exceeds Indiana's state average of 15.6% by 0.8 percentage points, placing it in the moderately expensive tier. Median rent of $874 falls just below the state median of $883, making Carroll nearly average within Indiana's rental landscape.
Middle ground between extremes
Carroll County's $874 rent positions it between Blackford's affordability champion ($635) and Allen County's metro prices ($976), serving as the region's middle option. Home values of $167,700 similarly occupy the middle ground, offering balance between accessibility and market appreciation potential.
Balanced budgeting for modest earners
Renters earning $64,003 annually ($5,334 monthly) allocate $874 to rent—16.4% of gross income, leaving reasonable cushion for other expenses. Homeowners pay just $795 monthly, an exceptional value suggesting Carroll's housing market offers attractive ownership pathways despite modest rental costs.
Carroll County: solid middle-ground choice
Carroll County delivers near-average Indiana rents ($874) and competitive home values ($167,700) with a manageable 16.4% rent-to-income ratio. If you're seeking small-town living without sacrificing affordability or amenities, Carroll offers genuine balance; verify local employment opportunities match your industry before committing to this quiet north-central county.
Cost of Living Advisory: Carroll County
Affordability Verdict
Carroll County offers affordable rental housing at a median of $874/month — about 16.4% of the typical household income here.
Rent vs. Own
At $874/month rent versus $795/month in owner costs, owning is roughly $79/month cheaper — a 9% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $34,960/year. For owner costs at the 28% rule, the required income is roughly $34,071/year. With a median household income of $64,003, most households can comfortably afford rent here. Notably, 22.0% of renter households in Carroll County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Indiana, Carroll County is less affordable than Jasper County by roughly 6% ($874/mo vs $926/mo).
Affordability Calculator
See how your income compares to housing costs in Carroll County
Rent Burden
16.4%
of gross income
Max Housing (28% Rule)
$1,493
per month
Owner Cost Burden
14.9%
of gross income
You can likely afford the median home in Carroll County
Median home value is $167,700. Estimated monthly cost: $1,339 vs. your max of $1,493.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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