That's according to the MIT Living Wage Calculator. Unlike the federal income tax system, Indianapolis's tax rate is the same whether you're rich or working on a living wage. Housing costs and rent are probably the most important expenses when it comes to the cost of living in Indianapolis. Indianapolis residents rely on cars to get around, although you can get rid of them and save a lot of money by choosing a neighborhood with public transportation.
Now that you have a wealth of information about the cost of living in Indianapolis, you can begin your apartment search. Before you start looking for apartments in Indianapolis and looking for a good deal, you need to figure out how much you can afford rent. Future employment growth in Indianapolis is projected to increase by 37.5% over the next decade, which is significantly higher than the 33.5% growth rate in the US. UU.
We've put together a cost-of-living guide to help you determine whether or not moving to Indianapolis is the right choice for you and your finances. Indianapolis is experiencing significant growth due to its incredible cost of living and work opportunities, although it is still much less expensive than Chicago or New York City. When you use the 30% rule, you can get a rough estimate of the salary needed to rent an apartment in Indianapolis comfortably. As the state capital and the most populous city, Indianapolis has a lively and walkable center, the largest children's museum in the world, numerous sports teams and recreational trails.