Bedford, IN

Very Low · 53

Indiana · Population 13,824 · Updated March 2026

$819
Median Rent / Month
$50,253
Median Income
$136,900
Median Home Value
$839
Owner Costs / Month

Affordability

How far your income goes in Bedford

19.6%
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

$9,828
Annual Rent
$1,533
State Income Tax
$1,136
Property Tax (est.)

Cost of Living Overview

Bedford is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 53 (where 100 equals the national median), Bedford residents can expect to pay median rent of $819/month while earning a median household income of $50,253/year.

The median home value in Bedford, IN is $136,900, with typical monthly owner costs around $839 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.6% 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 Bedford.

Frequently Asked Questions

Common questions about living costs in Bedford

What is the cost of living in Bedford, IN?
The cost of living index in Bedford, IN is 53 (US average = 100). Median monthly rent is $819, median household income is $50,253/year, and the median home value is $136,900.
Is Bedford, IN affordable?
Yes, Bedford is more affordable than the national average with a cost index of 53. The rent-to-income ratio is 19.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Bedford, IN?
The median gross rent in Bedford, IN is $819 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $9,828.
What is the median household income in Bedford?
The median household income in Bedford, IN is $50,253 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%.