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Cost of Living in Hendricks County

Is it better to rent or buy in Hendricks County? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$104,434
$1,441/mo

Median in area: $1,441

$310,897

Median in area: $310,897

$62,179

If you Rent

🔑
$1,650 /mo
Base Rent$1,441
Est. Utilities$209
% of Income19.0%
Pre-tax Residual$7,053

If you Buy

🏠
$2,174 /mo
P&I (7.018%)$1,658
Taxes & Ins$307
Est. Utilities$209
% of Income25.0%
Pre-tax Residual$6,529

Compare Nearby Areas

See how Hendricks County stacks up against neighboring areas.

countyMontgomery County, IN
$858/mo
countyBoone County, IN
$1,413/mo
countyMorgan County, IN
$1,076/mo
countyMarion County, IN
$1,259/mo
countyPutnam County, IN
$931/mo

Cost of Living FAQs

Is it cheaper to rent or buy in Hendricks County?›

Based on median housing data, renting is currently more affordable on a monthly basis in Hendricks County. The estimated all-in monthly cost for renting is $1,650, while owning a median-priced home with a 20% down payment is roughly $2,174 per month (a difference of $524).

How much do utilities cost in Hendricks County?›

The average monthly utility cost (electricity and natural gas) for a typical home in Hendricks County is approximately $209. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Hendricks County?›

To comfortably afford the median rent and utilities in Hendricks County without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $66,000 per year.