Hamilton County · Indiana · Midwest · 102k residents
Carmel, IN: economy, jobs & business costs
The site-selection read on Carmel: labor costs, talent, corporate tax, energy, and business activity, with the Indiana median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: ACS place data; supplementary fields may use state estimates.
Average weekly wages in the surrounding labor market run $1,391/wk. Indiana's corporate income tax rate is 4.9%. Commercial electricity averages 12.4¢/kWh.
Compare Carmel side by side
Avg. weekly wage
$1,391/wk
Corporate income tax
4.9%
Bachelor's degree or higher
74.4%
Commercial electricity
12.4¢/kWh
Economic momentum
How fast Carmel's economy is moving, ranked against the US cities we track.
56/100
Steady
Ranks Carmel's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| ACS median home value | $486,800 |
| Price per sq. ft. | $150 |
| Property tax rate | 0.83% |
| 1-bedroom rent | $1,500/mo |
| 2-bedroom rent | $1,719/mo |
| State & local income tax | 4.15% |
| Sales tax | 7% |
| Corporate income tax | 4.9% |
| Avg. weekly wage | $1,391/wk |
| Bachelor's degree or higher | 74.4% |
| Commercial electricity | 12.4¢/kWh |
| Businesses per 1k residents | 36.1/1k |
| Wage: Software developer | $106,870 |
| Wage: Registered nurse | $84,230 |
| Wage: General manager | $120,480 |
| Wage: Customer service | $43,460 |
| Wage: Warehouse worker | $37,120 |
| Wage: Heavy truck driver | $61,980 |
| Wage: Electrician | $65,130 |
| Wage: Retail salesperson | $31,530 |
| Cost of living index | 106 |
| Groceries index | 95 |
| Utilities | $165/mo |
| Transit pass | $60/mo |
| Gas price | $3.20/gal |
| Healthcare index | 95 |
| Childcare (per child) | $900/mo |
| Median household income | $141,505 |
| Unemployment rate | 3.6% |
| Population | 102k |
| Crime index | 45/100 |
| School rating | 5.8/10 |
| Walkability | 38/100 |
| Disaster risk | 89/100 |
| Avg. commute | 24 min |
| Sunny days / year | 190 days |
| July high | 84°F |
| January low | 19°F |
| Annual snowfall | — |
| Home price YoY | +4.2% |
| Home price MoM | +0.1% |
| Rent YoY | +4.1% |
| Rent MoM | +0.1% |
| Employment (jobs) YoY | +2.4% |
| Building permits YoY | -60.2% |
| Ocean coast | 590 mi |
| Big lake | 127 mi |
| Mountains | 298 mi |
| Major airport | 19 mi |
| Ski resort | 86 mi |
Popular comparisons
Nearby
- Westfield, IN · 55k
- Zionsville, IN · 32k
- Noblesville, IN · 73k
- Fishers, IN · 102k
- Lawrence, IN · 50k
Similar size
- South Bend, IN · 103k
- Evansville, IN · 116k
- Bloomington, IN · 80k
- Hammond, IN · 77k
- Lafayette, IN · 71k
Real listings in Carmel
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Carmel a good place to run a business?
- Indiana's corporate income tax rate is 4.9%; average weekly wages in the surrounding labor market run $1,391/wk; commercial electricity averages 12.4¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Carmel, IN?
- Carmel indexes at 106 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $1,719/mo and a acs median home value of $486,800.
- How much does a house cost in Carmel?
- The acs median home value in Carmel is $486,800 (Census ACS estimate; individual listings vary).
- How much is rent in Carmel?
- A two-bedroom in Carmel rents for about $1,719/mo.