Marion, IN

Very Low · 43

Indiana · Population 27,384 · Updated March 2026

$760
Median Rent / Month
$43,349
Median Income
$83,200
Median Home Value
$693
Owner Costs / Month

Affordability

How far your income goes in Marion

21.0%
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

$9,120
Annual Rent
$1,322
State Income Tax
$691
Property Tax (est.)

Cost of Living Overview

Marion is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 43 (where 100 equals the national median), Marion residents can expect to pay median rent of $760/month while earning a median household income of $43,349/year.

The median home value in Marion, IN is $83,200, with typical monthly owner costs around $693 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.0% 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 Marion.

Frequently Asked Questions

Common questions about living costs in Marion

What is the cost of living in Marion, IN?
The cost of living index in Marion, IN is 43 (US average = 100). Median monthly rent is $760, median household income is $43,349/year, and the median home value is $83,200.
Is Marion, IN affordable?
Yes, Marion is more affordable than the national average with a cost index of 43. The rent-to-income ratio is 21.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Marion, IN?
The median gross rent in Marion, IN is $760 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $9,120.
What is the median household income in Marion?
The median household income in Marion, IN is $43,349 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%.