Indianapolis

Most affordable Indianapolis suburbs

Ranked on what a household actually pays: the in-house cost-of-living index at 55%, the median home value against the metro at 25% (lower is better here), and the share of households already stretched by housing costs at 20%.

Updated Sep 2026·23 suburbs considered, 10 listed
1
Southern and eastern sides of the Madison County Courthouse, located in the block surrounded by Eighth, Main, Ninth, and Meridian Streets in Anderson, Indiana,
Anderson$119k median · 24.7 min commute
Cost of living A−Housing FEmployment F
77
Affordability
overall 45 D
2
Boone County Courthouse in Lebanon, Indiana, United States
Lebanon$196k median · 21.2 min commute
Cost of living B+Housing DEmployment C−
76
Affordability
overall 58 C
3
Foley, Foley & Peden - Martinsville, IN
Martinsville$163k median · 28.5 min commute
Cost of living A−Housing FEmployment D
76
Affordability
overall 53 C−
4
Shelbyville, IN
Shelbyville$175k median · 20.7 min commute
Cost of living B+Housing FEmployment C−
72
Affordability
overall 55 C−
5
The back of the Hancock County Courthouse
Greenfield$216k median · 25.7 min commute
Cost of living B+Housing DEmployment C
70
Affordability
overall 60 C
6
Photo from Small Town Indiana photo survey.
McCordsville$345k median · 31.9 min commute
Cost of living BHousing B−Employment B+
69
Affordability
overall 65 C+
7
Front of the Johnson County Courthouse, located on Courthouse Square in downtown Franklin, Indiana, United States. Built in 1879, the courthouse is part of two
Franklin$232k median · 25.0 min commute
Cost of living BHousing D+Employment C
67
Affordability
overall 59 C
8
City of Greenwood City Hall
Greenwood$276k median · 24.8 min commute
Cost of living BHousing C−Employment C+
67
Affordability
overall 65 C+
9
Speedway, IN
Speedway$229k median · 22.0 min commute
Cost of living B+Housing D−Employment D
67
Affordability
overall 67 C+
10
Houses along 45th street in Lawrence, Indiana
Lawrence$230k median · 24.7 min commute
Cost of living BHousing D+Employment C−
66
Affordability
overall 54 C−
This list's weighting
Cost of living 55%Median home value (lower is better) 25%Cost-burdened households 20%
Other Indianapolis lists
Best Indianapolis suburbs for familiesBest Indianapolis suburbs for schoolsShortest commutes to Downtown CarmelMost walkable Indianapolis suburbsBest Indianapolis suburbs for young professionalsHow we score Indianapolis suburbs →

Photos from Wikimedia Commons: Anderson (Nyttend · Public domain); Lebanon (Paul J Everett · CC BY 2.0); Martinsville (Paul Sableman · CC BY 2.0); Shelbyville (Wikimedia Commons · Public domain); Greenfield (The original uploader was Pollinator at English Wikipedia. · CC BY-SA 3.0); McCordsville (Chris Flook · CC BY-SA 4.0); Franklin (User:Mingusboodle · Public domain); Greenwood (Steinmek · CC BY-SA 4.0); Speedway (Wikimedia Commons · Public domain); Lawrence (ONUnicorn · CC BY-SA 4.0).