What salary do you need to live in Terre Haute, IN?

The cost side of living in Terre Haute

Median gross rent, meaning contract rent plus tenant-paid utilities, runs $663, $942 and $1,049 a month for one, two and three bedrooms across Terre Haute, IN. The largest of those is 58% more than the smallest.

Homeowners in Terre Haute report a median home value of $143,500. Against a median household income of $56,594, the ratio is 2.5× — one of the gentler home-price-to-income ratios in the country.

BEA's Regional Price Parity for the metro is 87.8, where 100 is the US average. In plain terms, the full basket of goods, services and housing costs 12.2% less than average, so $100,000 here buys roughly what $113,899 would at average US prices.

Income needed for each grade in Terre Haute

For two bedrooms, $79,000 is where Terre Haute turns Comfortable. Below that, $40,000 marks the start of Okay and $17,000 the start of Tight; under $17,000 the score reads Stretched. Rent at the Comfortable line is 14% of gross pay.

The Royal grade is within reach at $243,000 a year, where both rent and the median home price look small next to income.

Nothing here is a separate rule of thumb; plug any of these incomes into the calculator with two bedrooms and Terre Haute shows the matching grade.

What different incomes look like in Terre Haute

Take a $75,000 salary. In a one-bedroom the rent share is 11% and the score 69, Comfortable; in a three-bedroom the share rises to 17% and the score falls to 62, Okay.

Read down the two-bedroom column and the first Comfortable row is $100,000, consistent with the $79,000 line above.

Terre Haute on the national list

Ranked against all 387 metros, Terre Haute sits 340th on overall price level and 335th on the two-bedroom rent median, counting from the most expensive. Its median home value ranks 378th.

For a sense of scale, the metros just above and below it on two-bedroom rent are Grand Forks, ND-MN ($942) and Lima, OH ($939).

Terre Haute vs. the rest of Indiana

Compared with Indiana as a whole, two-bedroom rent in Terre Haute is 12% lower ($942 vs. $1,076) and the median home is 34% lower ($143,500 vs. $218,200).

The Indiana figure for the Comfortable line, using state medians, is $117,000 against $79,000 for Terre Haute.

Within Indiana, the metros closest to Terre Haute on rent and overall prices are Kokomo, IN, Muncie, IN, and Michigan City-La Porte, IN. Their Comfortable lines for two bedrooms sit at $88,000, $78,000, and $103,000.

Does the typical Terre Haute income clear the bar?

What about a typical local household? Census puts median household income here at $56,594, which grades Okay (56) for a two-bedroom at the median rent. The Comfortable line is 40% above what the median household makes. For Indiana as a whole, the median household income of $71,957 scores 51 against statewide rents. Household income can include more than one earner, so a single salary of the same size goes less far.

Estimates use pre-tax income and public data; they are not financial advice.