Cost of Living in Anderson, IN

Updated November 2026 · Madison County · Indianapolis-Carmel-Greenwood, IN metro area · population 55,367

Local cost index (CostLiving estimate)
91.2
Cheaper than the US average
BEA index for the Indianapolis-Carmel-Greenwood, IN metro area: 95.7
Monthly budget
$2,150
single adult · $4,586 family of 4
Modelled estimate, before taxes
Median rent
$925
per month, gross rent · US $1,413
Median home value
$119,000
US $332,700 · Very affordable

Prices in Anderson are 8.8% below the US average (local index 91.2; the BEA index for the Indianapolis-Carmel-Greenwood, IN metro area is 95.7), with local housing the biggest saving at 65.2; a single adult's modelled budget is about $2,150 a month and the median rent is $925.

Prices by category

CostLiving local estimate. 100 = US average; 110 means prices are 10% higher. Housing reflects Anderson's own median rent compared with the area's average rent; goods, utilities and other services are BEA's official price parities for the Indianapolis-Carmel-Greenwood, IN metro area, unchanged.

Anderson price index by category, US average = 100: All items 91.2, Housing (rents) 65.2, Goods 94.3, Utilities 86.4, Other services 99.1

Cheaper than US average More expensive · CostLiving estimate from BEA RPP 2024 and Census ACS rents

It is the 18th most expensive of the 22 Indiana cities in our data. Cheaper than 88% of the cities we cover.

Official BEA Regional Price Parities for the Indianapolis-Carmel-Greenwood, IN metro area. 2024: goods 94.3, housing 88.9, utilities 86.4, other services 99.1.
BEA index201920202021202220232024
All items95.293.694.993.894.795.7

Monthly budget by household type

1 adult · 1-bedroom · modelled estimate for Anderson, IN

CategoryPer monthPer yearShare
Housing (rent) $547 $6,564 25%
Utilities $244 $2,928 11%
Food at home $266 $3,192 12%
Transportation $585 $7,020 27%
Health care $348 $4,176 16%
Clothing, personal care & supplies $160 $1,920 7%
Total$2,150$25,800100%

2 adults · 2-bedroom · modelled estimate for Anderson, IN

CategoryPer monthPer yearShare
Housing (rent) $737 $8,844 20%
Utilities $387 $4,644 10%
Food at home $491 $5,892 13%
Transportation $1,157 $13,884 31%
Health care $646 $7,752 17%
Clothing, personal care & supplies $315 $3,780 8%
Total$3,733$44,796100%

2 adults + 2 children · 3-bedroom · modelled estimate for Anderson, IN

CategoryPer monthPer yearShare
Housing (rent) $866 $10,392 19%
Utilities $471 $5,652 10%
Food at home $700 $8,400 15%
Transportation $1,541 $18,492 34%
Health care $602 $7,224 13%
Clothing, personal care & supplies $406 $4,872 9%
Total$4,586$55,032100%

Modelled estimate of basic costs, excluding taxes, child care and savings. Housing is rent excluding tenant-paid utilities (counted under utilities). See how the budget is calculated.

Housing costs in Anderson

Rent by number of bedrooms

SizeMedian rent
Studio $685
1 bedroom $706
2 bedrooms $951
3 bedrooms $1,117
4 bedrooms $1,192

Median rent: Census ACS 2020-2024 median gross rent by bedrooms (rent plus tenant-paid utilities, all renters).

Rent, home values and affordability

MeasureValue
Median gross rent$925
Median contract rent (excl. utilities)$717
Median home value$119,000
Owner costs with a mortgage$1,050/mo
Median household income$46,909
Rent as % of renter income Expensive30.8%
Home value ÷ household income Very affordable2.5×

Census ACS 5-year 2020-2024.

Electricity and gas prices

Residential electricity in Indiana

17.02¢ per kWh, August 2026

12-month change: +5.0% (from 16.21¢) · US 18.16¢

Aug 2025: 16.21¢/kWh Sep 2025: 16.99¢/kWh Oct 2025: 17.02¢/kWh Nov 2025: 17.12¢/kWh Dec 2025: 15.65¢/kWh Jan 2026: 16.19¢/kWh Feb 2026: 16.06¢/kWh Mar 2026: 17.85¢/kWh Apr 2026: 17.90¢/kWh May 2026: 18.15¢/kWh Jun 2026: 17.51¢/kWh Jul 2026: 16.73¢/kWh Aug 2026: 17.02¢/kWh

Average household uses 929 kWh a month in Indiana ≈ $157/month. Source: EIA-861M (statewide average).

Regular gasoline regional figure: Midwest (PADD 2)

$4.10 per gallon, week of 2026-11-02

12-month change: +45.0% (from $2.83) · US $4.15

2026-05-11: $4.405/gal 2026-05-18: $4.399/gal 2026-05-25: $4.352/gal 2026-06-01: $4.135/gal 2026-06-08: $3.945/gal 2026-06-15: $3.861/gal 2026-06-22: $3.723/gal 2026-06-29: $3.625/gal 2026-07-06: $3.531/gal 2026-07-13: $3.662/gal 2026-07-20: $3.780/gal 2026-07-27: $3.882/gal 2026-08-03: $3.929/gal 2026-08-10: $3.816/gal 2026-08-17: $3.938/gal 2026-08-24: $3.934/gal 2026-08-31: $3.847/gal 2026-09-07: $3.894/gal 2026-09-14: $4.091/gal 2026-09-21: $4.386/gal 2026-09-28: $4.291/gal 2026-10-05: $4.109/gal 2026-10-12: $4.145/gal 2026-10-19: $4.145/gal 2026-10-26: $4.269/gal 2026-11-02: $4.102/gal

EIA weekly retail price survey; Indiana is covered by the Midwest (PADD 2) average.

Inflation in the Midwest

Consumer prices in the Midwest Census region rose +4.2% in the 12 months to September 2026 (US +3.7%). Nationally, food at home changed +1.8%, shelter +3.2% and energy +20.4%. Source: BLS CPI-U, not seasonally adjusted. CPI is published for regions and large metro areas, so the regional figure is shown.

Salary equivalent

Because prices in Anderson are 8.8% below the US average, $60,000 here has the buying power of about $65,800 in an average-priced US area.

Same buying power in an average-priced US area$65,800
Needed in Anderson to match $60,000 in an average-priced US area$54,700

Formula: US-equivalent = salary × 100 ÷ 91.2. Based on the local cost index (CostLiving estimate from BEA RPP and Census rents); taxes not included.

Nearby cities

CityDistanceIndexBudget (single)Median rent
Noblesville, IN17 mi97.2 $2,673$1,389
Fishers, IN17 mi100.0 $2,836$1,611
Muncie, IN17 mi89.9 $2,158$904
Westfield, IN25 mi100.8 $2,778$1,667
Carmel, IN26 mi101.3 $3,001$1,712
Indianapolis, IN32 mi94.2 $2,454$1,156

Cities with a similar cost of living

CityIndexBudget (single)Median rent
Bismarck, ND91.2 $2,269$999
Anderson, SC91.2 $2,281$975
Urbana, IL91.2 $2,338$972
Columbus, GA91.2 $2,314$1,106
Memphis, TN91.3 $2,332$1,181
Cleveland, OH91.1 $2,222$945

Compare Anderson with another city

Frequently asked questions

Is Anderson, IN an expensive place to live?

Anderson has a local cost of living index of 91.2, which is 8.8% below the US average. This CostLiving estimate starts from the BEA Regional Price Parities 2024 for the Indianapolis-Carmel-Greenwood, IN metro area (95.7) and adjusts housing to Anderson's own rents. It is 2.1 points below the Indiana average. It is the 18th most expensive of the 22 Indiana cities in our data. Cheaper than 88% of the cities we cover.

How much money do you need to live in Anderson?

Our modelled estimate of basic monthly costs is $2,150 for a single adult, $3,733 for a couple and $4,586 for a family of four, before taxes, child care and savings. A $60,000 salary in an average-priced US area buys about the same as $54,700 in Anderson.

What is the average rent in Anderson?

The median gross rent (rent plus tenant-paid utilities) is $925 a month (Census ACS 2020-2024). By size: 1 bedroom $706, 2 bedrooms $951, 3 bedrooms $1,117. The typical renter spends 30.8% of household income on rent (expensive).

How much does a house cost in Anderson?

The median owner-estimated home value is $119,000, 2.5 times the median household income of $46,909 (very affordable). Owners with a mortgage pay a median $1,050 a month in housing costs.

How much is electricity and gas in Anderson?

Indiana residential electricity averaged 17.02¢ per kWh in August 2026 (US 18.16¢). Regular gasoline was $4.10 a gallon (Midwest (PADD 2) average, week of 2026-11-02).

Sources and notes

Labels such as “county figure” or “state nonmetro figure” mark values that come from a larger area because the city-level figure is unavailable or unreliable. The monthly budget is a modelled estimate, not observed spending, and excludes taxes. This page is for general information and is not financial advice. Methodology · All sources