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Cost of Living in Parke County

Is it better to rent or buy in Parke 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.

$68,267
$782/mo

Median in area: $782

$155,551

Median in area: $155,551

$31,110

If you Rent

🔑
$1,026 /mo
Base Rent$782
Est. Utilities$244
% of Income18.0%
Pre-tax Residual$4,663

If you Buy

🏠
$1,215 /mo
P&I (7.119%)$838
Taxes & Ins$133
Est. Utilities$244
% of Income21.4%
Pre-tax Residual$4,474

Compare Nearby Areas

See how Parke County stacks up against neighboring areas.

countyClay County, IN
$878/mo
countyMontgomery County, IN
$858/mo
countyFountain County, IN
$837/mo
countyPutnam County, IN
$931/mo
countyVermillion County, IN
$732/mo

Cost of Living FAQs

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

Based on median housing data, renting is currently more affordable on a monthly basis in Parke County. The estimated all-in monthly cost for renting is $1,026, while owning a median-priced home with a 20% down payment is roughly $1,215 per month (a difference of $189).

How much do utilities cost in Parke County?›

The average monthly utility cost (electricity and natural gas) for a typical home in Parke County is approximately $244. This estimate uses local utility rate schedules combined with median energy consumption profiles.

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

To comfortably afford the median rent and utilities in Parke County without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $41,040 per year.