Cost of Living in Henry County, Indiana
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Henry County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Henry County ranks #482 of 3,144 counties for affordability (top 15%)
Data Story
About Cost of Living in Henry County, Indiana
Henry County's Housing Costs vs. Nation
At 16.1%, Henry County's rent-to-income ratio sits slightly above the national benchmark, meaning renters here spend a bit more of their paychecks on housing than Americans typically do. The county's median household income of $60,144 trails the national median of $74,755 by about $14,600, making housing costs feel heavier despite modest rents of $807 monthly.
Where Henry Ranks in Indiana
Henry County's 16.1% rent-to-income ratio edges above Indiana's state average of 15.6%, placing it in the middle tier of affordability across the state's 92 counties. Rents here at $807 are notably cheaper than Indiana's median of $883, but incomes don't quite offset that advantage.
Henry vs. Nearby Counties
Compared to Howard County next door—which carries a 17.6% rent burden—Henry offers more breathing room with a 16.1% ratio and lower rents at $807 versus $915. Against Huntington County's balanced 16.6% ratio, Henry residents enjoy the lowest rents in this cluster while maintaining similar affordability pressure.
Where Your Money Goes
A Henry County renter earning the median $60,144 annually spends roughly $807 monthly on rent, consuming about 16.1% of gross income. Homeowners with a $140,200 median home value face monthly costs of $799, making ownership and renting nearly equal propositions here.
Considering a Move to Henry?
Henry County offers some of Indiana's lowest rents at $807 monthly and modest home values around $140,200, making it attractive for budget-conscious relocators willing to accept slightly lower incomes. Compare these figures against your current housing costs and income to see if this county's affordability gains outweigh other factors like job availability and lifestyle.
Cost of Living Advisory: Henry County
Affordability Verdict
Henry County offers affordable rental housing at a median of $807/month — about 16.1% of the typical household income here.
Rent vs. Own
At $807/month rent versus $799/month in owner costs, owning is roughly $8/month cheaper — a 1% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $32,280/year. For owner costs at the 28% rule, the required income is roughly $34,243/year. With a median household income of $60,144, most households can comfortably afford rent here. Notably, 24.0% of renter households in Henry County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Fulton County where rent averages $861/month, Henry County is approximately 6% less expensive.
Affordability Calculator
See how your income compares to housing costs in Henry County
Rent Burden
16.1%
of gross income
Max Housing (28% Rule)
$1,403
per month
Owner Cost Burden
15.9%
of gross income
You can likely afford the median home in Henry County
Median home value is $140,200. Estimated monthly cost: $1,119 vs. your max of $1,403.
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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