Chesterton, IN

Below Avg · 85

Indiana · Population 14,326 · Updated March 2026

$1,145
Median Rent / Month
$88,536
Median Income
$280,400
Median Home Value
$1,220
Owner Costs / Month

Affordability

How far your income goes in Chesterton

15.5%
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

$13,740
Annual Rent
$2,700
State Income Tax
$2,327
Property Tax (est.)

Cost of Living Overview

Chesterton offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 85 (where 100 equals the national median), Chesterton residents can expect to pay median rent of $1,145/month while earning a median household income of $88,536/year.

The median home value in Chesterton, IN is $280,400, with typical monthly owner costs around $1,220 including mortgage, insurance, and taxes. The median rent-to-income ratio of 15.5% 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 Chesterton.

Frequently Asked Questions

Common questions about living costs in Chesterton

What is the cost of living in Chesterton, IN?
The cost of living index in Chesterton, IN is 85 (US average = 100). Median monthly rent is $1,145, median household income is $88,536/year, and the median home value is $280,400.
Is Chesterton, IN affordable?
Yes, Chesterton is more affordable than the national average with a cost index of 85. The rent-to-income ratio is 15.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Chesterton, IN?
The median gross rent in Chesterton, IN is $1,145 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,740.
What is the median household income in Chesterton?
The median household income in Chesterton, IN is $88,536 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%.