Westfield, IN

Above Avg · 117

Indiana · Population 51,109 · Updated March 2026

$1,526
Median Rent / Month
$119,598
Median Income
$391,900
Median Home Value
$1,740
Owner Costs / Month

Affordability

How far your income goes in Westfield

15.3%
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

$18,312
Annual Rent
$3,648
State Income Tax
$3,253
Property Tax (est.)

Cost of Living Overview

Westfield is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 117 (where 100 equals the national median), Westfield residents can expect to pay median rent of $1,526/month while earning a median household income of $119,598/year.

The median home value in Westfield, IN is $391,900, with typical monthly owner costs around $1,740 including mortgage, insurance, and taxes. The median rent-to-income ratio of 15.3% 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 Westfield.

Frequently Asked Questions

Common questions about living costs in Westfield

What is the cost of living in Westfield, IN?
The cost of living index in Westfield, IN is 117 (US average = 100). Median monthly rent is $1,526, median household income is $119,598/year, and the median home value is $391,900.
Is Westfield, IN affordable?
No, Westfield is more expensive than the national average with a cost index of 117. The rent-to-income ratio is 15.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Westfield, IN?
The median gross rent in Westfield, IN is $1,526 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $18,312.
What is the median household income in Westfield?
The median household income in Westfield, IN is $119,598 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%.