Carmel, IN
Population 100,501 · Indiana
About Carmel, IN
Carmel is a major city located in Indiana with a population of 100,501 residents according to the latest US Census Bureau American Community Survey data. The median household income is $134,602 per year, which is 79% above the national median of $75,149. The median age of 40.5 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Carmel features a median home value of $455,500, which is 86% above the national median of $244,900. This places Carmel in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,607, 38% above the national average of $1,163/month. Of the 40,477 total housing units, 75% are owner-occupied (28,450 units) and 25% are renter-occupied (9,710 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Carmel shows an unemployment rate of 2.7%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 3.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Carmel have an average one-way commute time of 25 minutes.
Education & Demographics
74.5% of Carmel residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 2.0% White, 0.6% Hispanic or Latino, 0.3% Black or African American, and 2.3% Asian residents, with 12.9% of the population being foreign-born.
How Carmel Ranks in Indiana
Cost of Living in Carmel, IN
Compared to national averages, Carmel has a median household income of $134,602 (79% above the national median of $75,149). Home values average $455,500, which is 86% above the national median. Monthly rent at $1,607 is 38% above the US average of $1,163. Within Indiana, Carmel's income is 94% above the state average of $69,330, and home values are 179% above the state median of $163,409.
Why Live in Carmel, IN?
Carmel offers a strong local economy with a median household income of $134,602, well above the national average, and a strong job market with an unemployment rate of just 2.7%, and a well-educated community where 74.5% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 3.7%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $455,500. However, as a major city, Carmel provides access to a wide range of amenities and services.
Carmel has a population of 100,501 with a median age of 40.5 years. Compare Carmel with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Carmel
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Fishers | 100,918 | $128,141 | $370,200 | Compare |
| South Bend | 102,866 | $52,512 | $124,500 | Compare |
| Evansville | 116,441 | $52,251 | $129,100 | Compare |
| Bloomington | 78,791 | $48,918 | $289,700 | Compare |
| Hammond | 77,098 | $53,950 | $141,700 | Compare |
| Noblesville | 71,940 | $102,319 | $321,800 | Compare |
| Lafayette | 70,650 | $52,946 | $157,600 | Compare |
| Gary | 68,604 | $37,380 | $85,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Carmel With Other Cities
Frequently Asked Questions about Carmel
What is the population of Carmel, IN?
The population of Carmel, IN is 100,501 according to the latest US Census Bureau American Community Survey estimates. This makes it a major city in Indiana.
What is the median household income in Carmel?
The median household income in Carmel, IN is $134,602 per year, which is 79% above the national median of $75,149.
What is the median home value in Carmel?
The median home value in Carmel, IN is $455,500, which is 86% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Carmel?
The median monthly rent in Carmel, IN is $1,607, which is 38% above the national average of $1,163/month.
What is the unemployment rate in Carmel?
The unemployment rate in Carmel, IN is 2.7%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Carmel, IN a good place to live?
Carmel offers above-average incomes, a competitive housing market, and a strong job market. With a population of 100,501 and a median age of 40.5, the city appeals to a broad range of residents.
How educated is Carmel, IN?
74.5% of residents in Carmel aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Carmel?
Key cost-of-living indicators for Carmel, IN: median home value is $455,500 (86% above national), median rent is $1,607/month, and median household income is $134,602. The home-value-to-income ratio is 3.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Carmel?
The poverty rate in Carmel, IN is 3.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Carmel, IN?
Carmel's population is 2.0% White, 0.6% Hispanic or Latino, 0.3% Black or African American, 2.3% Asian, and 3.6% two or more races. 12.9% of residents are foreign-born.