Cost of Living in Floyd County, Indiana
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Floyd County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Floyd County ranks #2,181 of 3,144 counties for affordability (bottom 31%)
Data Story
About Cost of Living in Floyd County, Indiana
Floyd balances higher incomes with rents
Floyd County renters spend 15.2% of their income on rent, right in the national sweet spot for affordability and reflecting the county's strongest median household income of $78,179. This southern Indiana county proves that higher wages can offset steeper housing costs.
Balanced affordability above state average
Floyd's 15.2% rent-to-income ratio edges just below the state average of 15.6%, placing it among Indiana's better-balanced housing markets. The county's strong income base helps residents weather its higher housing costs.
Premium rents offset by premium wages
Floyd's median rent of $990 ranks among the region's highest, but its $78,179 median income is also the strongest in this comparison. The county's premium wages translate into manageable housing costs despite elevated rents.
Higher costs, higher incomes balance out
Renters pay $990 monthly and homeowners $1,141 against a median income of $78,179, the highest pairing in this eight-county group. This strong earning power allows Floyd households to comfortably absorb housing costs that would strain lower-income counties.
Floyd works for well-paid professionals
If you're relocating to a job paying $75,000-plus, Floyd's 15.2% rent-to-income ratio offers real affordability despite higher nominal rents. The county's strong wage base makes premium housing costs manageable for professional households.
Cost of Living Advisory: Floyd County
Affordability Verdict
For renters in Floyd County, the market is affordable. Expect to pay around $990/month in gross rent, with 28.0% of renter households considered cost-burdened.
Rent vs. Own
The median rent in Floyd County is $990/month, while owner costs run $1,141/month. Renting saves approximately $151/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $39,600/year. For owner costs at the 28% rule, the required income is roughly $48,900/year. With a median household income of $78,179, most households can comfortably afford rent here. Notably, 28.0% of renter households in Floyd County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Floyd County sits 6% more expensive than Marshall County ($936/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Floyd County
Rent Burden
15.2%
of gross income
Max Housing (28% Rule)
$1,824
per month
Owner Cost Burden
17.5%
of gross income
The median home in Floyd County may be a stretch
Median home value is $235,100. Estimated monthly cost: $1,877 vs. your max of $1,824.
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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