Shoals, IN
Population 700 · Indiana
About Shoals, IN
Shoals is a small community located in Indiana with a population of 700 residents according to the latest US Census Bureau American Community Survey data. The median household income is $43,304 per year, which is 42% below the national median of $75,149. The median age of 48.6 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Shoals features a median home value of $114,300, which is 53% below the national median of $244,900. This makes Shoals one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $500, 57% below the national average of $1,163/month. Of the 379 total housing units, 62% are owner-occupied (210 units) and 38% are renter-occupied (127 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Shoals shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 22.1%, above the national average of 12.4%. Workers in Shoals have an average one-way commute time of 23.1 minutes.
Education & Demographics
12.8% of Shoals 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 0.0% White, 2.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.6% of the population being foreign-born.
How Shoals Ranks in Indiana
Cost of Living in Shoals, IN
Compared to national averages, Shoals has a median household income of $43,304 (42% below the national median of $75,149). Home values average $114,300, which is 53% below the national median. Monthly rent at $500 is 57% below the US average of $1,163. Within Indiana, Shoals's income is 38% below the state average of $69,330, and home values are 30% below the state median of $163,409.
Why Live in Shoals, IN?
Shoals offers affordable housing with a median home value of $114,300, below the US average of $244,900, and rent that’s lower than the national average at $500/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features short commute times averaging just 23.1 minutes.
Potential considerations include median household income ($43,304) that falls below the national average. However, Shoals’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Shoals has a population of 700 with a median age of 48.6 years. Compare Shoals with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Shoals
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Boswell | 703 | $49,091 | $92,400 | Compare |
| Cromwell | 703 | $48,500 | $111,800 | Compare |
| Clarks Hill | 706 | $45,875 | $98,200 | Compare |
| Nineveh | 694 | $73,750 | $181,400 | Compare |
| Windfall City | 693 | $61,375 | $94,300 | Compare |
| Harmony | 708 | $53,650 | $115,100 | Compare |
| Gaston | 709 | $49,417 | $87,300 | Compare |
| Fountain City | 718 | $46,106 | $96,900 | 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 Shoals With Other Cities
Frequently Asked Questions about Shoals
What is the population of Shoals, IN?
The population of Shoals, IN is 700 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 Shoals?
The median household income in Shoals, IN is $43,304 per year, which is 42% below the national median of $75,149.
What is the median home value in Shoals?
The median home value in Shoals, IN is $114,300, which is 53% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Shoals?
The median monthly rent in Shoals, IN is $500, which is 57% below the national average of $1,163/month.
What is the unemployment rate in Shoals?
The unemployment rate in Shoals, IN is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Shoals, IN a good place to live?
Shoals offers a moderate cost of living, affordable housing, and a strong job market. With a population of 700 and a median age of 48.6, the city appeals to established professionals and retirees.
How educated is Shoals, IN?
12.8% of residents in Shoals 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 Shoals?
Key cost-of-living indicators for Shoals, IN: median home value is $114,300 (53% below national), median rent is $500/month, and median household income is $43,304. The home-value-to-income ratio is 2.6x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Shoals?
The poverty rate in Shoals, IN is 22.1%, 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 Shoals, IN?
Shoals's population is 0.0% White, 2.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.9% two or more races. 0.6% of residents are foreign-born.