Gilmer Park, IN vs Shipshewana Lake, IN

Gilmer Park is moderately more affordable than Shipshewana Lake, with a 5% lower cost of living index. Gilmer Park scores 80 compared to 84 for Shipshewana Lake, where the US average is 100. This difference means residents of Shipshewana Lake can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Gilmer Park is $1,162/month compared to $804/month in Shipshewana Lake — a 45% difference. Interestingly, home values tell a different story: while Shipshewana Lake has cheaper rent, Gilmer Park actually has lower median home values ($142,600 vs $325,700).

Median household income in Gilmer Park is $61,184 compared to $68,984 in Shipshewana Lake (-11.3%). While Shipshewana Lake is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Gilmer Park spend roughly 22.8% of their income on rent, more than the 14% in Shipshewana Lake.