Cost of Living in Parke County, Indiana
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Parke County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Parke County ranks #317 of 3,144 counties for affordability (top 10%)
Data Story
About Cost of Living in Parke County, Indiana
Parke County offers strong affordability.
At 13.1%, Parke County's rent-to-income ratio beats the national average, meaning renters here keep more of their paychecks than typical Americans. The modest $731 monthly rent reflects genuine affordability for the county's $66,776 median household income.
Tied for Indiana's best value.
Parke County matches Noble County at 13.1% rent-to-income ratio, tying for the lowest affordability burden in Indiana and well below the state's 15.6% average. This elite standing places Parke County among the state's most livable counties for renters managing housing costs.
Cheapest rent in the region.
Parke County's $731 rent is the lowest among all comparison counties, beating Orange County ($838) and Ohio County ($852) by meaningful margins. Its $139,300 median home value also ranks among the region's most affordable for buyers.
Housing takes minimal income share.
On a $66,776 median income, the typical Parke County household spends just 13.1% on rent ($731/month) or 13.3% on mortgage costs ($743/month). This efficiency leaves maximum room in monthly budgets for groceries, healthcare, childcare, and savings—a rare luxury among rural Indiana counties.
Maximum value for rural living.
Parke County delivers some of the lowest housing costs in Indiana without sacrificing community or access, making it ideal for affordability-focused movers. Check these numbers against what you're currently paying—the difference could transform your family's financial position.
Cost of Living Advisory: Parke County
Affordability Verdict
Parke County offers affordable rental housing at a median of $731/month — about 13.1% of the typical household income here.
Rent vs. Own
Renters in Parke County pay $731/month on average, compared to $743/month for homeowners. This market favors renters by about 2%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $29,240/year. For owner costs at the 28% rule, the required income is roughly $31,843/year. With a median household income of $66,776, most households can comfortably afford rent here. Notably, 28.0% of renter households in Parke County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Parke County sits 7% less expensive than Knox County ($782/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Parke County
Rent Burden
13.1%
of gross income
Max Housing (28% Rule)
$1,558
per month
Owner Cost Burden
13.4%
of gross income
You can likely afford the median home in Parke County
Median home value is $139,300. Estimated monthly cost: $1,112 vs. your max of $1,558.
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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