Cost of Living in Owensville, IN

With a cost of living index of 63, Owensville, IN is one of the most affordable cities in the country. Living here is 37% cheaper than the national average and 16% below the Indiana state average of 78. Owensville is a small community of 1,232 residents.

Housing costs are the biggest factor in Owensville's cost of living. The median monthly rent is $681 (48% below the US median of $1,319), and the median home value sits at $114,800 (62% below the national median of $304,900). At current prices, the median home costs roughly 2x the median household income — well within traditional affordability guidelines.

The median household income in Owensville is $57,438, which is 24% lower 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. 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.