Redkey, IN
Population 1,451 · Indiana
About Redkey, IN
Redkey is a small town located in Indiana with a population of 1,451 residents according to the latest US Census Bureau American Community Survey data. The median household income is $40,667 per year, which is 46% below the national median of $75,149. The median age of 30.9 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Redkey features a median home value of $78,300, which is 68% below the national median of $244,900. This makes Redkey one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $829, 29% below the national average of $1,163/month. Of the 589 total housing units, 72% are owner-occupied (363 units) and 28% are renter-occupied (141 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Redkey shows an unemployment rate of 5.8%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 36.8%, above the national average of 12.4%. Workers in Redkey have an average one-way commute time of 22.3 minutes.
Education & Demographics
8.3% of Redkey residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 7.5% White, 1.2% Hispanic or Latino, 0.0% Black or African American, and 0.3% Asian residents, with 2.7% of the population being foreign-born.
Cost of Living in Redkey, IN
Compared to national averages, Redkey has a median household income of $40,667 (46% below the national median of $75,149). Home values average $78,300, which is 68% below the national median. Monthly rent at $829 is 29% below the US average of $1,163. Within Indiana, Redkey's income is 41% below the state average of $69,330, and home values are 52% below the state median of $163,409.
Why Live in Redkey, IN?
Redkey offers affordable housing with a median home value of $78,300, below the US average of $244,900, and rent that’s lower than the national average at $829/month, and short commute times averaging just 22.3 minutes.
Potential considerations include median household income ($40,667) that falls below the national average. However, Redkey’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Redkey has a population of 1,451 with a median age of 30.9 years. Compare Redkey with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Redkey
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Montpelier | 1,444 | $42,833 | $77,100 | Compare |
| Odon | 1,458 | $44,632 | $137,400 | Compare |
| Oolitic | 1,461 | $61,696 | $141,700 | Compare |
| Trafalgar | 1,433 | $83,214 | $216,400 | Compare |
| Darmstadt | 1,428 | $96,458 | $293,200 | Compare |
| Fairview Park | 1,426 | $58,929 | $109,300 | Compare |
| Lake Dalecarlia | 1,421 | $115,588 | $313,200 | Compare |
| Nashville | 1,420 | $48,750 | $246,700 | 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 Redkey With Other Cities
Frequently Asked Questions about Redkey
What is the population of Redkey, IN?
The population of Redkey, IN is 1,451 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Indiana.
What is the median household income in Redkey?
The median household income in Redkey, IN is $40,667 per year, which is 46% below the national median of $75,149.
What is the median home value in Redkey?
The median home value in Redkey, IN is $78,300, which is 68% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Redkey?
The median monthly rent in Redkey, IN is $829, which is 29% below the national average of $1,163/month.
What is the unemployment rate in Redkey?
The unemployment rate in Redkey, IN is 5.8%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Redkey, IN a good place to live?
Redkey offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 1,451 and a median age of 30.9, the city appeals to young professionals and families.
How educated is Redkey, IN?
8.3% of residents in Redkey aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Redkey?
Key cost-of-living indicators for Redkey, IN: median home value is $78,300 (68% below national), median rent is $829/month, and median household income is $40,667. The home-value-to-income ratio is 1.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Redkey?
The poverty rate in Redkey, IN is 36.8%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Redkey, IN?
Redkey's population is 7.5% White, 1.2% Hispanic or Latino, 0.0% Black or African American, 0.3% Asian, and 0.0% two or more races. 2.7% of residents are foreign-born.