The 10 Richest Cities in Indiana
You’d expect the richest people in Indiana to be clustered around Indianapolis. It’s the state capital and most populous city, after all. Surprisingly, they’re not. Indiana’s wealthiest folk tend to prefer smaller, more relaxed cities like St. Johns and Zionsville – peaceful, relaxed slices of suburbia where white picket fences rule and small-town charm abounds.
In places like these, unemployment is low, poverty is next to non-existent, and salaries are inching ever further skywards. If you’re keen to know which part of The Hoosier State ranks as the very wealthiest, find out know as we reveal the 10 richest cities in Indiana.
Keeping up with Joneses in Granger is a serious task, thanks in no small part to a very substantial median income of $80,351. If you’re not in a high-fluting job, if you don’t have at least a bachelor’s degree to your name, and if you flinch at the idea of paying a whopping $1,491 in rental per month, prepare to stick out like a sore thumb.
Munster is a bedroom community of Chicago located around 30 miles southeast of the Chicago Loop. Its population of just over 23,000 isn’t huge, but its population density is a massive 1601 percent higher than the state average… which may just give you an indication of its desirability.
The school system is superb, while its proximity to Chicago allows easy access to the wealth of job opportunities and amenities the city offers. Understandably, property comes at a premium, with a median home value of $228,400. The median income, meanwhile, is a very attractive $84,254.
Whitestown is a small city with big price tags. If you want to get your foot on the property ladder, prepare to dig deep – with a median home value of $225,000, houses here are no one’s idea of cheap. If you had any thought of saving a few dollars by renting, forget it – the median rent price is a mammoth $1,317 per month. But every cloud has a silver lining, and the silver lining in this case is an incredibly impressive median income of $85,000.
How does the thought of living in a place with a median income of $87,763 grab you? If a lot, you might want to add Bargersville to your home-finding tour. Although you’ll need to act quickly – as one of the fastest-growing cities in Johnson County, word about Bargersville’s attractions has already got out, with the result that you’ll struggle to find a property much below the $220,000 mark.
If you want to live within striking distance of Indianapolis but would rather somewhere a bit less hectic and crowded than the state capital, Avon could be your perfect match. Located just five miles west of Indianapolis and less than ten minutes away from Indianapolis International Airport, it offers the convenience of the big city in a quiet, relaxed setting.
Just don’t think that life away from the capital comes cheaply – if you want to buy a house here, you’ll need to prepare yourself for a whopping median home value of $210,600. On the bright side, the median income is an equally noteworthy $94,213.
If you want to move to Westfield, check your savings account first – with a median home value of $254,800 and a median rental price of $1,207, you’re going to need them. The good news?
You get a lot back for your investment, including access to some first-rate schools, a good selection of parks and trails, a close-knit (and rapidly expanding) community, a booming job market, and a shot at the very impressive median wage of $98,376.
Mccordsville is a great place to live – so great, in fact, that Niche has named it the number one place to live in Hancock County. The school district is excellent, the property market is booming, and the range of services and amenities is expanding almost constantly.
Obviously, none of that comes for cheap – if you want to get in on the action, you can expect to part with around $230,000 for a single-family home or $1,228 if you choose to rent instead. Fortunately, the median income of $99,497 more than compensates for the high cost of living.
3. St John
In 2017, 24/7 Wall St. ranked St John as the wealthiest city in Indiana. The conclusion was reached after assessing median household incomes, poverty rates, and median home values from cities across the state. In the years since, it’s been overtaken in the wealth stakes by a couple of other extremely well-to-do communities, but it’s still one of the richest and most exclusive cities in the state.
Located just an hours drive from Chicago, this small city is blessed with a tiny poverty rate of just 2.9 percent (to put that into perspective, the median for the state is 14.5 percent) a 97.1 graduate rate (the highest in Indiana), and a giant median income of $105,852.
Up next is Carmel, an affluent little enclave with an unemployment rate of just 2.5 percent, a poverty level of 3.5 percent, and a median income of $112,765.
In fairness, the cost of living here isn’t cheap – Home Snacks puts the median home price at $333,200 and the median rental price at $1,207- but when the salaries are this huge, there’s still a lot of disposable income floating around even after the bills have been paid. With great weather, multiple attractions, and a score of things to see and do, it makes a great place to live for those who can afford the price tag.
The richest city in Indiana by quite a large margin is Zionsville. Known primarily as a tourist destination, the city has a village-style downtown comprised of quaint little boutiques and restaurants.
The school enjoys a strong reputation, as do the city’s seasonal attractions, which include a July Fourth fireworks show that attracts people from all over the state. Despite the slightly ‘old-timey’ appeal of the city, it’s by no means a pastoral backwater.
The job market is strong enough to support the very healthy median income of $137,377, along with a considerable median home value of $385,700. The unemployment rate is a tiny 2.5 percent and the poverty rate is an equally petite 3.7 percent.
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