States › Indiana › Valparaiso

Is Valparaiso, IN expensive to live in?

OKRent takes 26 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,6317% lower than U.S. average
💵 Families earn per year (2026)$75,357about $6,280/month · 13% lower than U.S. average
🔑 House price$267,30020% lower than U.S. average

Rent is lower than in 51% of U.S. cities. A typical house costs about 3.5 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $65,240 a year. That is $31 an hour at a full-time job.

Is rent cheaper than other Indiana cities?

No. Rent here is more expensive than in most of Indiana. It is number 110 of 132 cities from cheapest to most expensive.

Valparaiso
$1,631
Goshen
$1,177
Crown Point
$1,821
Richmond
$816
Plainfield
$1,881
Merrillville
$1,297
New Albany
$1,075

How much do households earn in Valparaiso?

Under $25k
14.3%
$25k–50k
21.5%
$50k–100k
36.3%
$100k–150k
15.6%
$150k+
6.0%

Share of households by yearly income. 21.7% of households earn $100,000 or more.

Rent by apartment size in Valparaiso

SizeValparaisoU.S. average
Studio$1,026$1,338
1 bedroom$1,267$1,324
2 bedrooms$1,372$1,509
3 bedrooms$1,768$1,698
4 bedrooms$2,413$2,098

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Valparaiso overall?

Everyday prices in Indiana overall are 7% below the U.S. average (index 93.3, U.S. = 100).

Housing
74
Goods (food, clothes…)
96
Utilities
86
Other services
99
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Valparaiso, so the Indiana figure is shown.

Taxes and bills in Valparaiso

🏛️ Property tax$2,745a year · 1.03% of home value · U.S. $3,119
⚡ Electric bill$158a month (typical) · U.S. $156

Life in Valparaiso

Commute to work24.8 minU.S.: 26.4 min
College degree40.6%U.S.: 35.7%
Own their home58%U.S.: 65.2%
Below poverty line14.9%U.S.: 12.5%
Unemployment3.6%U.S.: 5.2%

Is it cheaper to rent or buy in Valparaiso?

Renting is cheaper right now: about $224 a month less.

Renting
$1,631
Owning
$1,855

Owning assumes a typical $267,300 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $26,730 for the down payment.

Frequently asked questions

What is the average rent in Valparaiso, IN?

Renting in Valparaiso costs a median of about $1,631 a month in 2026, including utilities. The Indiana median is $1,219.

How much do I need to make to live in Valparaiso?

To keep rent under 30% of income, you need about $65,240 a year, or $31 an hour at a full-time job.

Is Valparaiso cheap or expensive?

Valparaiso is rated OK: rent takes 26.0% of the typical household income of $75,357. It ranks 110th cheapest of 132 Indiana cities we track.

How much are property taxes in Valparaiso?

The median homeowner in Valparaiso pays $2,745 a year in property taxes, about 1.03% of the median home value.

Is Valparaiso more expensive than the national average?

Overall prices in Indiana are 7% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Valparaiso?

The median home value in Valparaiso is $267,300, about 3.5 times the typical yearly household income.

34,733 people live in Valparaiso. Numbers are typical (middle) values.