Goshen, IN

Very Low · 66

Indiana · Population 34,374 · Updated March 2026

$1,045
Median Rent / Month
$55,436
Median Income
$175,200
Median Home Value
$962
Owner Costs / Month

Affordability

How far your income goes in Goshen

22.6%
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

$12,540
Annual Rent
$1,691
State Income Tax
$1,454
Property Tax (est.)

Cost of Living Overview

Goshen is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 66 (where 100 equals the national median), Goshen residents can expect to pay median rent of $1,045/month while earning a median household income of $55,436/year.

The median home value in Goshen, IN is $175,200, with typical monthly owner costs around $962 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.6% 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 Goshen.

Frequently Asked Questions

Common questions about living costs in Goshen

What is the cost of living in Goshen, IN?
The cost of living index in Goshen, IN is 66 (US average = 100). Median monthly rent is $1,045, median household income is $55,436/year, and the median home value is $175,200.
Is Goshen, IN affordable?
Yes, Goshen is more affordable than the national average with a cost index of 66. The rent-to-income ratio is 22.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Goshen, IN?
The median gross rent in Goshen, IN is $1,045 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $12,540.
What is the median household income in Goshen?
The median household income in Goshen, IN is $55,436 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%.