Greenwood, IN vs Merrillville, IN

Greenwood, IN and Merrillville, IN have a very similar cost of living, with only a 0.2% difference in their overall index. Greenwood scores 91 while Merrillville scores 91 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 Greenwood is $1,252/month compared to $1,304/month in Merrillville — a 4% difference. Interestingly, home values tell a different story: while Greenwood has cheaper rent, Merrillville actually has lower median home values ($194,000 vs $248,700).

Median household income in Greenwood is $78,765 compared to $64,791 in Merrillville (+21.6%). While Greenwood is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Greenwood spend roughly 19.1% of their income on rent, less than the 24.2% in Merrillville.