Cost of Living in Hamilton, IN

With a cost of living index of 83, Hamilton, IN is a very affordable place to live. Living here is 17% cheaper than the national average and 4% above the Indiana state average of 78. Hamilton is a small community of 1,849 residents.

Housing costs are the biggest factor in Hamilton's cost of living. The median monthly rent is $929 (30% below the US median of $1,319), and the median home value sits at $265,600 (13% below the national median of $304,900). At current prices, the median home costs roughly 4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Hamilton is $66,884, which is 11% lower than the national median of $75,149. Residents spend roughly 17% 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.