Bloomington, IN vs Carmel, IN

There is a significant gap in the cost of living between these two cities. Bloomington is 23.1% cheaper than Carmel. With a cost index of 92 vs 119, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Bloomington to Carmel should plan for substantially higher expenses across most categories.

On the housing front, median rent in Bloomington is $1,160/month compared to $1,607/month in Carmel — a 28% difference. Home values follow the same pattern: Bloomington is more affordable at $289,700 median vs $455,500.

Median household income in Bloomington is $48,918 compared to $134,602 in Carmel (-63.7%). While Carmel is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Bloomington spend roughly 28.5% of their income on rent, more than the 14.3% in Carmel.