Bourbon, IN vs Rensselaer, IN

Bourbon, IN and Rensselaer, IN have a very similar cost of living, with only a 4.4% difference in their overall index. Bourbon scores 71 while Rensselaer scores 74 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Bourbon is $848/month compared to $868/month in Rensselaer — a 2% difference. Interestingly, home values tell a different story: while Bourbon has cheaper rent, Rensselaer actually has lower median home values ($149,100 vs $156,800).

Median household income in Bourbon is $71,375 compared to $61,648 in Rensselaer (+15.8%). Bourbon offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Bourbon spend roughly 14.3% of their income on rent, less than the 16.9% in Rensselaer.