Cape Coral vs Indianapolis: Cost of Living Comparison
How does the cost of living in Cape Coral, Florida compare to Indianapolis, Indiana? Below is a side-by-side breakdown of housing costs, income, wages, and taxes using official government data.
Summary: Indianapolis is the more affordable city overall. Housing costs are 64% higher in Cape Coral compared to Indianapolis, while rent is 56% higher. FL has no state income tax.
| Metric | Cape Coral, FL | Indianapolis, IN | Diff |
|---|---|---|---|
| Housing | |||
| Median Home Value | $302,400 | $184,600 | +63.8% |
| Median Monthly Rent | $1,630 | $1,046 | +55.8% |
| Income | |||
| Median Household Income | $72,474 | $59,110 | +22.6% |
| Per Capita Income | $37,621 | $34,592 | +8.8% |
| Taxes | |||
| State Income Tax Rate | None | 3.0% | -100.0% |
| Combined Sales Tax | 7.0% | 7.0% | same |
| Demographics | |||
| Population | 198,912 | 882,006 | -77.4% |
Source: U.S. Census Bureau ACS 5-Year Estimates (2022), Freddie Mac Primary Mortgage Market Survey. State/local tax rates from Tax Foundation (2024).
Rent vs. Buy Calculator — Cape Coral
Default home price from Census ACS median. Mortgage rate: 6.38% (Freddie Mac PMMS, March 2026). Property tax est. 1.1%, insurance est. 0.35% of home value annually.
Rent vs. Buy Calculator — Indianapolis
Default home price from Census ACS median. Mortgage rate: 6.38% (Freddie Mac PMMS, March 2026). Property tax est. 1.1%, insurance est. 0.35% of home value annually.
Key Takeaways
- Housing: The median home in Cape Coral costs $302,400 compared to $184,600 in Indianapolis — a 64% premium.
- Rent: Median rent is $1,630/mo in Cape Coral vs $1,046/mo in Indianapolis.
- Income: Median household income is $72,474 in Cape Coral and $59,110 in Indianapolis.
- Taxes: Florida has no state income tax, while Indiana has a 3.05% rate.
Methodology
This comparison uses data from the U.S. Census Bureau American Community Survey 5-Year Estimates (2022) for median household income, median home value, median gross rent, per capita income, and population. State and local tax rates are sourced from the Tax Foundation. Mortgage rates are from the Freddie Mac Primary Mortgage Market Survey (updated weekly).