New Haven, IN

Very Low · 60

Indiana · Population 15,339 · Updated March 2026

$947
Median Rent / Month
$67,121
Median Income
$151,200
Median Home Value
$924
Owner Costs / Month

Affordability

How far your income goes in New Haven

16.9%
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

$11,364
Annual Rent
$2,047
State Income Tax
$1,255
Property Tax (est.)

Cost of Living Overview

New Haven is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 60 (where 100 equals the national median), New Haven residents can expect to pay median rent of $947/month while earning a median household income of $67,121/year.

The median home value in New Haven, IN is $151,200, with typical monthly owner costs around $924 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.9% 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 New Haven.

Frequently Asked Questions

Common questions about living costs in New Haven

What is the cost of living in New Haven, IN?
The cost of living index in New Haven, IN is 60 (US average = 100). Median monthly rent is $947, median household income is $67,121/year, and the median home value is $151,200.
Is New Haven, IN affordable?
Yes, New Haven is more affordable than the national average with a cost index of 60. The rent-to-income ratio is 16.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in New Haven, IN?
The median gross rent in New Haven, IN is $947 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,364.
What is the median household income in New Haven?
The median household income in New Haven, IN is $67,121 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%.