The median home in Carmel, Indiana is valued at $547,770, up 4.2% year over year. Typical monthly rent is $1,756, producing a price-to-rent ratio of 26x — well above the national average of 18x. Carmel is part of the Indianapolis-Carmel-Anderson, IN metropolitan area, which CrashWatch tracks daily with real-time stress scores and crash risk analysis.

See the full metro analysis: Indianapolis-Carmel-Anderson, IN stress score, crash risk, and 12-month forecast →

Home Value$547,770

+4.2%

Rent$1,756/mo

AFFORDABILITY

Enter your income for Carmel.

Income (annual)

Down Payment

$109,554 on $547,770

Out of reach — 52.7% of income

Need $141,043/yr to afford.

PITI$3,291

P/I52.7%

Afford$291K

Gap-$256K

P&I $2,770Tax $388Ins $133

Renting $1,535/mo cheaper ($1,756 rent)6.50% 30yr, 20% down, county tax + IN ins. 28% per HUD.

Home Buying Kit For Dummies (2025)Financing, negotiation, closing

Other cities in Indiana

Compare Carmel with other housing markets across Indiana.

Dune Acres$889K Clear Lake$747K Long Beach$720K Zionsville$661K Michiana Shores$540K Ogden Dunes$467K Westfield$460K Saint John$442K

Full Indianapolis-Carmel-Anderson, IN analysis

Stress scores, crash risk, early warning signals, and 12-month price forecasts for the Indianapolis-Carmel-Anderson, IN metro.

View Indianapolis-Carmel-Anderson, IN metro →

CARMEL, IN