Is Indianapolis a Cheap Place to Live? - An Expert's Perspective

The cost of living in Indianapolis, IN is 2% higher than the state average and 8% lower than the national average. Homes in Indianapolis, IN are 17% cheaper than the U. S. average.

In the US, while public services are approximately 8% more expensive. SmartAsset, a technology company that develops financial models to help inform consumers about key decisions related to refinancing, student loans, retirement and the like, created its Affordability Index to locate the most affordable housing markets. If you're looking for a great place to live that won't break the bank, Indianapolis is a perfect choice. With its vibrant culture, diverse neighborhoods, and budget-friendly housing options, it's no wonder that Indianapolis is becoming an increasingly popular destination for those looking for a new home. As an expert in SEO, I'm here to provide you with an overview of some of the most affordable neighborhoods in Indianapolis so you can find the perfect place to call home.

I-65-South Emerson

The I-65-South Emerson neighborhood is an exciting area with plenty of activities to explore.

Get your daily workout at VASA Fitness, a state-of-the-art gym with an indoor pool, basketball court, hot tub, fitness room, functional training area with grass and much more. Its high-quality services make it a great place to stay fit in this growing neighborhood. Indulge your taste buds at PANA Donuts & Boba Tea, enjoy live music while eating classic pub dishes at Mikie's Pub, or visit The Juicy Seafood Restaurant & bar to enjoy the day's catch. Just north of I-65 toward South Emerson is the Royal Pin Expo, where Indianapolis residents can play bowling and laser tag.

East Side

The East Side is currently one of the most affordable neighborhoods in Indianapolis. Major employers on the East Side include the Eskenazi Health Center North Arlington and the emergency room at Community Hospital East, among other medical centers.


Homecroft is a close-knit community located south of downtown Indianapolis.

Its origins date back to the First World War, and its architectural designs are still reminiscent of the twenties. This traditional neighborhood is ideal for families, and every year, Homecroft Police Department police officers hand out candy to children on Halloween. The residential neighborhood of Homecroft is budget-friendly, close to schools and a short drive from interactive activities such as Choi Martial Arts Academy, LLC. Those who want a strong sense of community will find Homecroft a comforting place.


Southdale is a charming residential neighborhood located next to entertainment. Just outside the northern limit is AMC Indianapolis 17, where people can buy buttered popcorn and sit down to watch the latest movie. We have initiatives such as Nine13sports that promote health, well-being and exercise through an innovative approach that combines cycling and technology; Keep Indianapolis Beautiful works with diverse communities to create vibrant public places, plant trees, develop community spaces, clean neighborhoods and engage students in nature; People for Urban Progress rescues discarded materials (such as the iconic RCA Dome roof) and redesigns them for public benefit and, ultimately, manufactures interesting products forever.

Arts for Learning offers hands-on visual arts experiences that allow children to achieve their creative and intellectual potential.


Just north of Southdale is Eagledale. For more than 100 years, the Indianapolis 500 has been our main leap to fame. It is the largest single-day sporting event in the world and attracts more than 300,000 fans to the famous Indianapolis Motor Speedway on the west side of Indianapolis. There's no shortage of cultural and fun experiences in Southdale, and it's one of the cheapest neighborhoods in Indianapolis. Adding to its appeal is the fact that Eagledale is currently one of the most affordable neighborhoods in Indianapolis.

Chapel Glen

Chapel Glen is another budget-friendly neighborhood located on the east side of Indianapolis.

In addition to being a great place to put down roots, Chapel Glen is one of the cheapest neighborhoods in Indianapolis. Economics aside, living in Indianapolis means that you're part of an extraordinary mosaic of neighborhoods.