Cost of Living in Mellott, IN

With a cost of living index of 60, Mellott, IN is one of the most affordable cities in the country. Living here is 40% cheaper than the national average and 19% below the Indiana state average of 78. Mellott is a small community of 198 residents.

Housing costs are the biggest factor in Mellott's cost of living. The median monthly rent is $480 (64% below the US median of $1,319), and the median home value sits at $152,800 (50% below the national median of $304,900). At current prices, the median home costs roughly 1.8x the median household income — well within traditional affordability guidelines.

The median household income in Mellott is $84,792, which is 13% higher than the national median of $75,149. Residents spend roughly 7% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

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.