Romney, IN
Population 561 · Indiana
About Romney, IN
Romney is a small community located in Indiana with a population of 561 residents according to the latest US Census Bureau American Community Survey data. The median household income is $61,133 per year, which is 19% below the national median of $75,149. The median age of 37.4 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Romney features a median home value of $155,300, which is 37% below the national median of $244,900. This positions Romney in a moderately priced market relative to the rest of the country. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 211 total housing units, 94% are owner-occupied (166 units) and 6% are renter-occupied (11 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Romney shows an unemployment rate of 10.1%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 0.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Romney have an average one-way commute time of 31.4 minutes.
Education & Demographics
31.0% of Romney residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 8.6% White, 8.6% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 7.0% of the population being foreign-born.
Cost of Living in Romney, IN
Compared to national averages, Romney has a median household income of $61,133 (19% below the national median of $75,149). Home values average $155,300, which is 37% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Indiana, Romney's income is 12% below the state average of $69,330, and home values are 5% below the state median of $163,409.
Why Live in Romney, IN?
Romney offers affordable housing with a median home value of $155,300, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and a low poverty rate of 0.0%, better than the national average.
Potential considerations include median household income ($61,133) that falls below the national average. However, Romney’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Romney has a population of 561 with a median age of 37.4 years. Compare Romney with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Romney
Cities in Indiana with a similar population size.
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 Romney With Other Cities
Frequently Asked Questions about Romney
What is the population of Romney, IN?
The population of Romney, IN is 561 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Indiana.
What is the median household income in Romney?
The median household income in Romney, IN is $61,133 per year, which is 19% below the national median of $75,149.
What is the median home value in Romney?
The median home value in Romney, IN is $155,300, which is 37% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Romney?
The median monthly rent in Romney, IN is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Romney?
The unemployment rate in Romney, IN is 10.1%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Romney, IN a good place to live?
Romney offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 561 and a median age of 37.4, the city appeals to a broad range of residents.
How educated is Romney, IN?
31.0% of residents in Romney 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 Romney?
Key cost-of-living indicators for Romney, IN: median home value is $155,300 (37% below national), median rent is $0/month, and median household income is $61,133. The home-value-to-income ratio is 2.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Romney?
The poverty rate in Romney, IN is 0.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Romney, IN?
Romney's population is 8.6% White, 8.6% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 7.0% of residents are foreign-born.