Cost of Living in Knox County, Indiana
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Knox County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Knox County ranks #1,355 of 3,144 counties for affordability (top 43%)
Data Story
About Cost of Living in Knox County, Indiana
Knox County offers affordable rents nationally
With a rent-to-income ratio of 15.9%, Knox County is nearly aligned with the national average despite a median household income of $58,863—below the national median of $74,755. Monthly rents of $782 are notably low, making this county an outlier for affordability.
One of Indiana's most affordable counties
Knox County's 15.9% rent-to-income ratio sits almost exactly at the state average of 15.6%, and its $782 median rent is $101 below Indiana's average of $883. This combination ranks Knox among Indiana's most housing-accessible counties.
Low rents anchor the region
Knox County's $782 rent is the lowest among comparable counties in this analysis, undercutting Lawrence County ($800) and matching affordability trends in rural Indiana. Despite lower incomes, Knox residents spend less on housing as a percentage of earnings than many neighboring areas.
Minimal housing burden allows financial flexibility
Renters dedicate only 15.9% of income to housing, while homeowners spend roughly 15.4% on mortgage costs, leaving Knox residents room for savings and other expenses. The median home value of $123,500 is the lowest in this county cluster, reflecting accessible homeownership.
Budget-conscious renters should explore Knox
Knox County delivers some of the lowest housing costs in Indiana paired with manageable rent-to-income ratios, ideal if you prioritize affordability over urban amenities. Compare it with neighboring Lawrence County ($800 rent, $65,551 income) to assess similar low-cost regions.
Cost of Living Advisory: Knox County
Affordability Verdict
Housing in Knox County is affordable. The median rent is $782/month against a median household income of $58,863, putting rent at 15.9% of income.
Rent vs. Own
The median rent in Knox County is $782/month, while owner costs run $752/month. Owning saves approximately $30/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $31,280/year. For owner costs at the 28% rule, the required income is roughly $32,229/year. With a median household income of $58,863, most households can comfortably afford rent here. Notably, 26.0% of renter households in Knox County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Indiana, Knox County is more affordable than Parke County by roughly 7% ($782/mo vs $731/mo).
Affordability Calculator
See how your income compares to housing costs in Knox County
Rent Burden
15.9%
of gross income
Max Housing (28% Rule)
$1,373
per month
Owner Cost Burden
15.3%
of gross income
You can likely afford the median home in Knox County
Median home value is $123,500. Estimated monthly cost: $986 vs. your max of $1,373.
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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