Cost of Living in Clear Lake, IN

With a cost of living index of 129, Clear Lake, IN is a notably expensive place to live. Living here is 29% more expensive than the national average and 51% above the Indiana state average of 78. Clear Lake is a small community of 409 residents.

Housing costs are the biggest factor in Clear Lake's cost of living. The median monthly rent is $1,188 (10% below the US median of $1,319), and the median home value sits at $741,500 (143% above the national median of $304,900). At current prices, the median home costs roughly 7.3x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Clear Lake is $101,563, which is 35% higher than the national median of $75,149. Residents spend roughly 14% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.