Carmel, IN vs Terre Haute, IN

The cost of living difference between Carmel, IN and Terre Haute, IN is dramatic. Terre Haute is 79.3% cheaper than Carmel, a gap that translates to thousands of dollars per year in household expenses. Carmel has a cost index of 119 while Terre Haute sits at 66, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Carmel is $1,607/month compared to $877/month in Terre Haute — a 83% difference. Home values follow the same pattern: Terre Haute is more affordable at $109,500 median vs $455,500.

Median household income in Carmel is $134,602 compared to $41,960 in Terre Haute (+220.8%). 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 Carmel spend roughly 14.3% of their income on rent, less than the 25.1% in Terre Haute.