Mishawaka, IN

Very Low · 62

Indiana · Population 50,907 · Updated March 2026

$1,041
Median Rent / Month
$53,120
Median Income
$140,600
Median Home Value
$987
Owner Costs / Month

Affordability

How far your income goes in Mishawaka

23.5%
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

$12,492
Annual Rent
$1,620
State Income Tax
$1,167
Property Tax (est.)

Cost of Living Overview

Mishawaka is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 62 (where 100 equals the national median), Mishawaka residents can expect to pay median rent of $1,041/month while earning a median household income of $53,120/year.

The median home value in Mishawaka, IN is $140,600, with typical monthly owner costs around $987 including mortgage, insurance, and taxes. The median rent-to-income ratio of 23.5% 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 Mishawaka.

Frequently Asked Questions

Common questions about living costs in Mishawaka

What is the cost of living in Mishawaka, IN?
The cost of living index in Mishawaka, IN is 62 (US average = 100). Median monthly rent is $1,041, median household income is $53,120/year, and the median home value is $140,600.
Is Mishawaka, IN affordable?
Yes, Mishawaka is more affordable than the national average with a cost index of 62. The rent-to-income ratio is 23.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Mishawaka, IN?
The median gross rent in Mishawaka, IN is $1,041 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $12,492.
What is the median household income in Mishawaka?
The median household income in Mishawaka, IN is $53,120 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%.