Anderson, IN

Very Low · 52

Indiana · Population 54,930 · Updated March 2026

$909
Median Rent / Month
$47,221
Median Income
$104,300
Median Home Value
$826
Owner Costs / Month

Affordability

How far your income goes in Anderson

23.1%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Indiana

State-level tax rates that affect your costs

3.05%
Income Tax (Top Rate)
7.0%
Sales Tax
0.83%
Property Tax Rate

Estimated Annual Costs

$10,908
Annual Rent
$1,440
State Income Tax
$866
Property Tax (est.)

Cost of Living Overview

Anderson is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 52 (where 100 equals the national median), Anderson residents can expect to pay median rent of $909/month while earning a median household income of $47,221/year.

The median home value in Anderson, IN is $104,300, with typical monthly owner costs around $826 including mortgage, insurance, and taxes. The median rent-to-income ratio of 23.1% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Indiana has a moderate income tax rate of 3.05%. Combined with a 7.0% sales tax rate and 0.83% effective property tax rate, the overall tax environment is a factor in the total cost of living in Anderson.

Frequently Asked Questions

Common questions about living costs in Anderson

What is the cost of living in Anderson, IN?
The cost of living index in Anderson, IN is 52 (US average = 100). Median monthly rent is $909, median household income is $47,221/year, and the median home value is $104,300.
Is Anderson, IN affordable?
Yes, Anderson is more affordable than the national average with a cost index of 52. The rent-to-income ratio is 23.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Anderson, IN?
The median gross rent in Anderson, IN is $909 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,908.
What is the median household income in Anderson?
The median household income in Anderson, IN is $47,221 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Indiana?
Indiana has a top income tax rate of 3.05%, a sales tax of 7.0%, and an effective property tax rate of 0.83%.