$89,341/yr
is the income needed to buy the typical $297,385 home in Indianapolis, IN at today's 6.69% rate — about $2,085/mo. The local median household ($77,065) falls $12,276 short.
The math (shown)
297,385 price − 10% down (29,739) = 267,646 loan
30-yr fixed at 6.69% on 267,646 = 1,725/mo principal+interest
+ 359/mo est. taxes+insurance (1.45%/yr of value — national placeholder)
2,085/mo PITI ÷ 0.28 = 7,445/mo → 89,341/yr required
against Zillow ZHVI 2026-06 (Zillow ZHVI (typical home value, smoothed, all-homes 33–67pct tier)) and the 6.69% FRED 30-yr rate (2026-08-06). Local median income: $77,065 (U.S. Census Bureau ACS 2023 5-year, median household income (table B19013)).
Can I afford Indianapolis, IN on my salary?
Your salary:
Rent vs own here
Honest null: HUD FMR needs a free huduser.gov token (env.HUD_TOKEN). Honest-null until set. (HUD FMR needs a free token; not wired here.)
FAQ
How much do I need to make to live in Indianapolis, IN?
To buy the typical home, about $89,341/yr. Renting needs less; this page sizes the buy.
What home value is this based on?
Zillow's ZHVI typical-home-value for the Indianapolis-Carmel-Greenwood, IN metro (2026-06): $297,385.
Is the mortgage rate current?
Yes — 6.69% from FRED's weekly 30-year fixed average (2026-08-06).
Glossary
ZHVI
Zillow Home Value Index — the typical home value for a region (35th–65th percentile, smoothed, seasonally adjusted).
Front-end DTI
Housing payment as a share of gross income; lenders commonly cap it near 28%.
PITI
Principal, Interest, Taxes, and Insurance — the full monthly housing cost.