Mitchell Opera House · Photo: Nyttend · Public domainHomes in Mitchell cost about 1.7 years of local pay, but renters are stretched more than prices suggest
More affordable than 78% of U.S. towns, #289 of 592 in Indiana. Up 3% in a year, 27% below the Indiana typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Bedford, IN micro area ($66K). How TownRatings grades cost of living
In dollars, homes in Mitchell cost less than the Indiana typical home. But the grade compares costs with what households in the area earn, and Bedford-area incomes are lower too ($66K, against $74K for the typical U.S. town). Property tax takes 0.99% of a home’s value a year (Indiana: 0.74%), and 48% of renters pay 30% or more of income for housing.
In dollars
- $187Ktypical home, 27% below the Indiana typical homeZillow, September 2026
- $960a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
In paychecks the grade
- 1.7 yrsof area income buys the typical home; the typical U.S. town: 3.3$66K, Bedford-area income
- 15%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 48%of renters pay 30%+ of income for housing; across Indiana: 48%Census 2020–24
- 25%of owners do; the typical U.S. town: 20%Census 2020–24
What stands out about housing in Mitchell
What’s behind Mitchell’s grade
Measured against what households in the area earn, Mitchell is more affordable than 78% of U.S. towns, #289 of 592 in Indiana. The share of households paying 30%+ for housing pulls the grade down most; home prices hold it up.
Values have lagged Indiana: the typical Mitchell home is up 22.2% in five years, against 28.7% statewide (Zillow).
Up 22.2% in five years
Slower than Indiana (28.7%).
Show as a table
| January | Mitchell | Indiana |
|---|---|---|
| 2017 | $86,000 | $133,000 |
| 2018 | $95,000 | $142,000 |
| 2019 | $104,000 | $152,000 |
| 2020 | $116,000 | $162,000 |
| 2021 | $134,000 | $180,000 |
| 2022 | $154,000 | $207,000 |
| 2023 | $161,000 | $224,000 |
| 2024 | $169,000 | $234,000 |
| 2025 | $177,000 | $246,000 |
| 2026 | $188,000 | $253,000 |
| September 2026 | $187,000 | $257,000 |
A typical Mitchell home worth $85K in October 2016 is worth about $187K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
Too few sales to read the market
Only 7 homes sold in September 2026, the latest month in Redfin’s figures: too few to describe the market or quote a median sale price.
A typical home costs 1.7 years of area income
The calculator starts from the area income the grade uses. Switch to Mitchell’s own median, or type yours.
That covers a typical Mitchell home, with $67K to spare.
A two-bedroom rents for about $960 a month here, $170 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Mitchell’s typical property tax (0.99% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $960
Renters already here pay a median of $849, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Lawrence County, IN): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
11 new homes permitted in 2025
Builders were permitted 11 new homes in Mitchell in 2025, all single-family houses, worth about $1.7 million to build. That's 2.8 per 1,000 residents, slower than across Indiana (6). Over the past 10 years, Mitchell has permitted 49 homes in all.
Between the 2010 and 2020 censuses, Mitchell's population fell by 417 even though 12 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year. Across Indiana: 1.7 new residents per new home.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 8 | 8 | 0 | $1.6 million |
| 2025 | 11 | 11 | 0 | $1.7 million |
| 2024 | 10 | 10 | 0 | $3.5 million |
| 2023 | 5 | 5 | 0 | $599,000 |
| 2022 | 9 | 9 | 0 | $1.1 million |
| 2021 | 2 | 2 | 0 | $200,000 |
| 2020 | 2 | 2 | 0 | $200,000 |
| 2019 | 3 | 3 | 0 | $139,000 |
| 2018 | 3 | 3 | 0 | $139,000 |
| 2017 | 3 | 3 | 0 | $139,000 |
| 2016 | 1 | 1 | 0 | $80,000 |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 1 | 1 | 0 | $200,000 |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 1 | 1 | 0 | $77,000 |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 1 | 1 | 0 | $50,000 |
| 2008 | 2 | 2 | 0 | $125,000 |
| 2007 | 2 | 2 | 0 | $170,000 |
| 2006 | 2 | 2 | 0 | $165,000 |
| 2005 | 3 | 3 | 0 | $300,000 |
| 2004 | 3 | 3 | 0 | $216,000 |
| 2003 | 4 | 4 | 0 | $219,000 |
| 2002 | 18 | 15 | 3 | $1 million |
| 2001 | 20 | 20 | 0 | $1 million |
| 2000 | 23 | 23 | 0 | $1.2 million |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Low tax bills, but a high tax rate
The median bill is $1,136, under the Indiana median of $1,614, because homes cost less. As a share of value it’s 0.99% a year, against 0.74% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
Mitchell and its neighbors
One source per column.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Mitchell | A− | $187K | $115K | 0.99% | $960 |
Questions about the cost of living in Mitchell
Is Mitchell expensive to live in?
Measured against what households in the area earn, Mitchell costs less than 78% of U.S. towns: an A− for cost of living, #289 of 592 in Indiana. The typical home costs 1.7 years of the median household income of the Bedford, IN micro area ($66K).
How much does a house cost in Mitchell?
About $187K, Zillow’s typical value for September 2026, up 3.0% in a year. The Indiana typical home is $257K.
What salary do you need to live in Mitchell?
To buy the typical home with 20% down at 6.3%, about $49,000 a year, keeping the payment (about $1,130 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $38,000.
How much is rent in Mitchell?
HUD puts a two-bedroom at about $960 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $849 (Census 2020–24).
What are property taxes in Mitchell?
The median bill is $1,136 a year, 0.99% of the median home value (Indiana: $1,614, 0.74%), from the Census 2020–24.
Are home prices in Mitchell going up?
Yes: up 3.0% in the past year and 22.2% in five years, against 28.7% across Indiana (Zillow).
Neighbors talk housing
What Mitchell buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, September 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.