Cost of living in Carmel
Carmel, located in Indiana, is known for its vibrant community and high quality of life. Understanding the cost of living in Carmel is crucial for anyone considering moving to or living in this city.
This guide provides a detailed breakdown of expenses, including housing, transportation, groceries, and more, to help you plan your budget effectively.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $25 on average, with a range between $12 and $35.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $75, with prices ranging from $44 to $100.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $8, with a range between $8 and $13.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $3.5 to $8, imported beer $6 to $10, cappuccino $1.5 to $6, and Coke/Pepsi $1.5 to $3.
Grocery Prices
- Milk - Milk is priced between $0.66 and $1.05 per liter, averaging $0.78.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $1.57 and $4.41, with an average price of $2.98.
- Eggs (Dozen) - A dozen eggs range from $1.23 to $5, averaging $2.64.
- Fruits (e.g., Apples, Oranges) - Apples cost $1.52 to $8.8 per kg, while oranges range from $1.08 to $8.58 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $0.64 and $3.86 per kg, and lettuce costs $1 to $2.89 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $2.14 and $2.5.
- Fuel (Gasoline) - Gasoline is priced between $0.72 and $1.03 per liter.
- Taxi Fares - Taxi fares start at $2, with a cost of $1.71 to $3.11 per km and $34 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $1000 to $2600, averaging $1490.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1000 to $2000, averaging $1250.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $2000 to $4200, averaging $2520.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1700 to $3800, averaging $1925.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $1625 to $2152.78, averaging $1879.98.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $1485.42 to $2152.78, averaging $1754.4.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $150 and $322, averaging $274.17.
- Internet - Internet services range from $50 to $90, with an average cost of $65.27.
Cost of Living Rankings
The cost of living indices for the United States are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in United States, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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"Key Takeaways"
Carmel offers a relatively high cost of living, particularly in terms of housing and dining. However, grocery prices remain moderate.
Transportation costs are manageable, with affordable public transport and fuel prices.
Utilities and internet services are moderately priced, but housing can be a significant expense, especially in the city centre.
Conclusion
In conclusion, Carmel, IN, presents a mixed cost of living scenario. While some expenses like groceries and transportation are reasonable, housing and dining can be on the higher side.
Prospective residents should plan their budgets accordingly, considering the higher costs associated with housing and dining, while taking advantage of the moderate grocery and transportation prices.