Cost of Living in Pike County, Indiana
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Pike County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Pike County ranks #299 of 3,144 counties for affordability (top 10%)
Data Story
About Cost of Living in Pike County, Indiana
Pike County delivers real value.
At 12.2%, Pike County's rent-to-income ratio stands notably below the national average, signaling genuine housing affordability for renters. The $676 monthly rent pairs with a $66,250 median income to create one of the best affordability profiles in this entire county comparison.
Best value in Indiana.
Pike County's 12.2% rent-to-income ratio ranks as the lowest among all Indiana counties in this comparison, beating the state average of 15.6% by substantial margin. This leadership position makes Pike County Indiana's affordability champion for renters.
Unbeaten rental bargains.
Pike County ties Perry County at $676 rent but edges ahead on income ratio (12.2% vs. 13.3%), making it the region's smartest rental deal. Its ultra-low $128,400 median home value ranks as the absolute cheapest in the entire comparison group.
Maximum income left over.
The median Pike County household earning $66,250 spends just 12.2% on rent ($676/month) or 14.1% on mortgage costs ($779/month). This efficiency is unmatched in the comparison group, leaving households $700+ monthly—$8,400+ yearly—compared to national averages for other life priorities.
Unbeatable bang for your buck.
Pike County offers the lowest rent-to-income ratio and cheapest homes in this entire analysis, making it unbeaten for affordability-focused relocations. If maximizing financial breathing room matters most, Pike County's numbers show you'd save more here than anywhere else.
Cost of Living Advisory: Pike County
Affordability Verdict
Housing in Pike County is affordable. The median rent is $676/month against a median household income of $66,250, putting rent at 12.2% of income.
Rent vs. Own
The median rent in Pike County is $676/month, while owner costs run $779/month. Renting saves approximately $103/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $27,040/year. For owner costs at the 28% rule, the required income is roughly $33,386/year. With a median household income of $66,250, most households can comfortably afford rent here. Notably, 27.0% of renter households in Pike County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Indiana, Pike County is less affordable than Parke County by roughly 8% ($676/mo vs $731/mo).
Affordability Calculator
See how your income compares to housing costs in Pike County
Rent Burden
12.2%
of gross income
Max Housing (28% Rule)
$1,546
per month
Owner Cost Burden
14.1%
of gross income
You can likely afford the median home in Pike County
Median home value is $128,400. Estimated monthly cost: $1,025 vs. your max of $1,546.
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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