Cost of Living in Gilmer Park, IN

With a cost of living index of 80, Gilmer Park, IN is a very affordable place to live. Living here is 20% cheaper than the national average and in line with the Indiana state average. Gilmer Park is a small community of 929 residents.

Housing costs are the biggest factor in Gilmer Park's cost of living. The median monthly rent is $1,162 (12% below the US median of $1,319), and the median home value sits at $142,600 (53% below the national median of $304,900). At current prices, the median home costs roughly 2.3x the median household income — well within traditional affordability guidelines.

The median household income in Gilmer Park is $61,184, which is 19% lower than the national median of $75,149. Residents spend roughly 23% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

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.