Speedway, IN

Below Avg · 75

Indiana · Population 13,622 · Updated March 2026

$1,120
Median Rent / Month
$57,158
Median Income
$209,400
Median Home Value
$1,118
Owner Costs / Month

Affordability

How far your income goes in Speedway

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

$13,440
Annual Rent
$1,743
State Income Tax
$1,738
Property Tax (est.)

Cost of Living Overview

Speedway is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 75 (where 100 equals the national median), Speedway residents can expect to pay median rent of $1,120/month while earning a median household income of $57,158/year.

The median home value in Speedway, IN is $209,400, with typical monthly owner costs around $1,118 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 Speedway.

Frequently Asked Questions

Common questions about living costs in Speedway

What is the cost of living in Speedway, IN?
The cost of living index in Speedway, IN is 75 (US average = 100). Median monthly rent is $1,120, median household income is $57,158/year, and the median home value is $209,400.
Is Speedway, IN affordable?
Yes, Speedway is more affordable than the national average with a cost index of 75. The rent-to-income ratio is 23.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Speedway, IN?
The median gross rent in Speedway, IN is $1,120 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,440.
What is the median household income in Speedway?
The median household income in Speedway, IN is $57,158 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%.