The 18 most affordable cities in Indiana to buy a house
Homeownership is fundamental to the American dream. It offers wealth, security, community, and countless other benefits. Yet for many Indiana residents, the dream feels increasingly out of reach—even as incomes rise and mortgage rates fall. Near-record prices have made homes hard to come by and often even harder to afford, leaving buyers and sellers stuck and younger generations priced out.
But affordable pockets still exist. In cities across the state, residents can comfortably spend around 30% of their income or less on housing, which is widely considered the affordable threshold.
To find out where these cities are, Redfin Real Estate ranked the most affordable cities in Indiana, based on their local payment to income ratios. All data is an average for the January-October 2025 period. To see the most affordable cities in the country, read this recent Redfin article.
#1. Hobart, Indiana
- Payment to income ratio: 25.2%
- Median sale price: $235,807
- Median household income: $71,680
- Income needed to buy: $60,216
- Median monthly mortgage payment: $1,505
- See homes for sale in Hobart on Redfin.com
#2. Granger, Indiana
- Payment to income ratio: 26.0%
- Median sale price: $397,511
- Median household income: $117,348
- Income needed to buy: $101,510
- Median monthly mortgage payment: $2,538
- See homes for sale in Granger on Redfin.com
#3. Brownsburg, Indiana
- Payment to income ratio: 26.0%
- Median sale price: $358,293
- Median household income: $105,435
- Income needed to buy: $91,495
- Median monthly mortgage payment: $2,287
- See homes for sale in Brownsburg on Redfin.com
#4. Fishers, Indiana
- Payment to income ratio: 27.0%
- Median sale price: $450,996
- Median household income: $128,141
- Income needed to buy: $115,168
- Median monthly mortgage payment: $2,879
- See homes for sale in Fishers on Redfin.com
#5. Crown Point, Indiana
- Payment to income ratio: 27.8%
- Median sale price: $347,015
- Median household income: $95,757
- Income needed to buy: $88,615
- Median monthly mortgage payment: $2,215
- See homes for sale in Crown Point on Redfin.com
#6. Franklin, Indiana
- Payment to income ratio: 28.9%
- Median sale price: $292,016
- Median household income: $77,305
- Income needed to buy: $74,570
- Median monthly mortgage payment: $1,864
- See homes for sale in Franklin on Redfin.com
#7. Jeffersonville, Indiana
- Payment to income ratio: 28.9%
- Median sale price: $265,075
- Median household income: $70,157
- Income needed to buy: $67,690
- Median monthly mortgage payment: $1,692
- See homes for sale in Jeffersonville on Redfin.com
#8. Lawrence, Indiana
- Payment to income ratio: 29.3%
- Median sale price: $281,132
- Median household income: $73,455
- Income needed to buy: $71,791
- Median monthly mortgage payment: $1,795
- See homes for sale in Lawrence on Redfin.com
#9. Noblesville, Indiana
- Payment to income ratio: 29.8%
- Median sale price: $397,741
- Median household income: $102,319
- Income needed to buy: $101,568
- Median monthly mortgage payment: $2,539
- See homes for sale in Noblesville on Redfin.com
#10. Merrillville, Indiana
- Payment to income ratio: 29.9%
- Median sale price: $252,606
- Median household income: $64,791
- Income needed to buy: $64,506
- Median monthly mortgage payment: $1,613
- See homes for sale in Merrillville on Redfin.com
#11. Greenwood, Indiana
- Payment to income ratio: 30.6%
- Median sale price: $314,800
- Median household income: $78,765
- Income needed to buy: $80,388
- Median monthly mortgage payment: $2,010
- See homes for sale in Greenwood on Redfin.com
#12. Portage, Indiana
- Payment to income ratio: 30.6%
- Median sale price: $291,267
- Median household income: $72,833
- Income needed to buy: $74,379
- Median monthly mortgage payment: $1,859
- See homes for sale in Portage on Redfin.com
#13. Plainfield, Indiana
- Payment to income ratio: 30.9%
- Median sale price: $343,379
- Median household income: $85,074
- Income needed to buy: $87,686
- Median monthly mortgage payment: $2,192
- See homes for sale in Plainfield on Redfin.com
#14. Westfield, Indiana
- Payment to income ratio: 31.6%
- Median sale price: $493,359
- Median household income: $119,598
- Income needed to buy: $125,986
- Median monthly mortgage payment: $3,150
- See homes for sale in Westfield on Redfin.com
#15. Carmel, Indiana
- Payment to income ratio: 34.6%
- Median sale price: $607,593
- Median household income: $134,602
- Income needed to buy: $155,157
- Median monthly mortgage payment: $3,879
- See homes for sale in Carmel on Redfin.com
#16. Zionsville, Indiana
- Payment to income ratio: 37.2%
- Median sale price: $773,568
- Median household income: $159,126
- Income needed to buy: $197,540
- Median monthly mortgage payment: $4,939
- See homes for sale in Zionsville on Redfin.com
#17. Schererville, Indiana
- Payment to income ratio: 37.3%
- Median sale price: $418,923
- Median household income: $86,020
- Income needed to buy: $106,977
- Median monthly mortgage payment: $2,674
- See homes for sale in Schererville on Redfin.com
#18. Valparaiso, Indiana
- Payment to income ratio: 41.5%
- Median sale price: $366,864
- Median household income: $67,664
- Income needed to buy: $93,683
- Median monthly mortgage payment: $2,342
- See homes for sale in Valparaiso on Redfin.com
