Photo: Chris Flook · CC BY-SA 4.0Measured against area pay, Pendleton costs less to live in than 62% of U.S. towns
It ranks #435 of 592 in Indiana for affordability. Up 1.5% in a year, 30% above the Indiana typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Indianapolis-Carmel-Greenwood, IN metro area ($80K). How TownRatings grades cost of living
The grade compares costs with what households across the Indianapolis metro earn ($80K, Census 2020–24). The typical home costs 3.1 years of metro income, and 41% of renters pay 30% or more of income for housing.
In dollars
- $334Ktypical home, 30% above the Indiana typical homeZillow, September 2026
- $1,420a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 96prices across the Indianapolis metro, where the U.S. is 100 (housing 89)BEA Regional Price Parities, 2024
In paychecks the grade
- 3.1 yrsof area income buys the typical home; the typical U.S. town: 3.3$80K, Indianapolis-area income
- 18%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 41%of renters pay 30%+ of income for housing; across Indiana: 48%Census 2020–24
- 15%of owners do; the typical U.S. town: 20%Census 2020–24
What Pendleton’s housing numbers say
Homes haven’t kept up with new residents
Between the 2010 and 2020 censuses, Pendleton gained 464 residents while 103 new homes were permitted: about 4.5 new residents per new home, against 1.7 across Indiana. New homes ↓
The priciest town in its area
Pendleton tops the three neighboring towns with a Zillow value. The next most expensive is Lapel at $230K; the least, Anderson at $133K. Vs. neighbors ↓
Building at more than twice the Indiana pace
Builders were permitted 75 new homes in 2025: 14 per 1,000 residents, against 6 across Indiana. That’s 643 in the past 10 years. New homes ↓
Written from the data on this page. Home values are the Zillow Home Value Index, through September 2026; sales and supply are Redfin’s for September 2026; permits are Census figures through 2025; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Pendleton’s grade
Measured against what households in the area earn, Pendleton is more affordable than 62% of U.S. towns, #435 of 592 in Indiana. Rent pulls the grade down most; property tax holds it up.
Prices here have kept pace with Indiana: up 24.5% in five years, against 28.7% statewide (Zillow).
Up 24.5% in five years
Slower than Indiana (28.7%).
Show as a table
| January | Pendleton | Indiana |
|---|---|---|
| 2017 | $171,000 | $133,000 |
| 2018 | $183,000 | $142,000 |
| 2019 | $197,000 | $152,000 |
| 2020 | $213,000 | $162,000 |
| 2021 | $238,000 | $180,000 |
| 2022 | $280,000 | $207,000 |
| 2023 | $302,000 | $224,000 |
| 2024 | $312,000 | $234,000 |
| 2025 | $324,000 | $246,000 |
| 2026 | $333,000 | $253,000 |
| September 2026 | $334,000 | $257,000 |
A typical Pendleton home worth $170K in October 2016 is worth about $334K 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 13 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 3.1 years of area income
The calculator starts from the area income the grade uses. Switch to Pendleton’s own median, or type yours.
That’s $19K short of a typical Pendleton home.
A two-bedroom rents for about $1,420 a month here, $560 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Pendleton’s typical property tax (0.82% 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 $1,420
Renters already here pay a median of $1,209, 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 (Anderson, IN HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
75 new homes permitted in 2025
Builders were permitted 75 new homes in Pendleton in 2025, all single-family houses, worth about $27.3 million to build. That's 14 per 1,000 residents, faster than across Indiana (6). Over the past 10 years, Pendleton has permitted 643 homes in all.
Between the 2010 and 2020 censuses, Pendleton gained 464 residents while 103 new homes were permitted: about 4.5 new residents per new home. Population grew faster than building, so existing homes filled up: a sign of tight supply. 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) | 76 | 76 | 0 | $29.5 million |
| 2025 | 75 | 75 | 0 | $27.3 million |
| 2024 | 66 | 66 | 0 | $23.2 million |
| 2023 | 45 | 45 | 0 | $12.2 million |
| 2022 | 193 | 193 | 0 | $56.3 million |
| 2021 | 151 | 145 | 6 | $42.2 million |
| 2020 | 59 | 59 | 0 | $18.3 million |
| 2019 | 15 | 9 | 6 | $4.3 million |
| 2018 | 16 | 16 | 0 | $5.1 million |
| 2017 | 12 | 12 | 0 | $2.2 million |
| 2016 | 11 | 11 | 0 | $2 million |
| 2015 | 11 | 11 | 0 | $2 million |
| 2014 | 11 | 11 | 0 | $2.5 million |
| 2013 | 9 | 9 | 0 | $1.3 million |
| 2012 | 3 | 3 | 0 | $459,000 |
| 2011 | 7 | 7 | 0 | $1.2 million |
| 2010 | 8 | 8 | 0 | $1.6 million |
| 2009 | 9 | 9 | 0 | $1.8 million |
| 2008 | 16 | 16 | 0 | $3.1 million |
| 2007 | 25 | 25 | 0 | $3.8 million |
| 2006 | 33 | 33 | 0 | $5 million |
| 2005 | 37 | 37 | 0 | $5.9 million |
| 2004 | 50 | 50 | 0 | $5.1 million |
| 2003 | 20 | 20 | 0 | $2.5 million |
| 2002 | 7 | 7 | 0 | $1.1 million |
| 2001 | 11 | 11 | 0 | $1.2 million |
| 2000 | 14 | 14 | 0 | $1.6 million |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Property tax runs above the Indiana norm
The median bill is $2,042 (Indiana: $1,614), 0.82% of a home’s value 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+”.
The rest of a budget near Pendleton
Only figures published free for the whole country, each labeled with the area it covers: the Indianapolis-Carmel-Greenwood, IN metro area, or Indiana. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 96 | IN 93 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 94 | IN 96 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 86 | IN 86 | metro | BEA, 2024 |
| Other services U.S. = 100 | 99 | IN 99 | metro | BEA, 2024 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Pendleton vs. its neighbors
Of the 4 towns here with a Zillow value, Pendleton has the 4th-lowest. Green Township and Fall Creek Township and Stony Creek Township have no Zillow value, so they are in the table only.
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 |
|---|---|---|---|---|---|
| Pendleton | B | $334K | $248K | 0.82% | $1,420 |
| Ingalls | A− | $180K | $190K | 0.61% | $1,510 |
| Anderson | A | $133K | $119K | 0.84% | $1,260 |
| Green Township | B | — | $261K | 0.59% | $1,460 |
| Fall Creek Township | B+ | — | $244K | 0.71% | $1,400 |
| Lapel | B+ | $230K | $220K | 0.64% | $1,420 |
| Stony Creek Township | B+ | — | $188K | 0.75% | $1,400 |
“—” under Zillow: Zillow publishes no value for that town, so it’s left blank rather than mixed with Census figures.
Questions about the cost of living in Pendleton
Is Pendleton expensive to live in?
Measured against what households in the area earn, Pendleton costs less than 62% of U.S. towns: a B for cost of living, #435 of 592 in Indiana. The typical home costs 3.1 years of the median household income of the Indianapolis-Carmel-Greenwood, IN metro area ($80K).
How much does a house cost in Pendleton?
About $334K, Zillow’s typical value for September 2026, up 1.5% in a year. The Indiana typical home is $257K.
What salary do you need to live in Pendleton?
To buy the typical home with 20% down at 6.3%, about $85,000 a year, keeping the payment (about $1,980 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $57,000.
How much is rent in Pendleton?
HUD puts a two-bedroom at about $1,420 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $1,209 (Census 2020–24).
What are property taxes in Pendleton?
The median bill is $2,042 a year, 0.82% of the median home value (Indiana: $1,614, 0.74%), from the Census 2020–24.
Are home prices in Pendleton going up?
Yes: up 1.5% in the past year and 24.5% in five years, against 28.7% across Indiana (Zillow).
Neighbors talk housing
What Pendleton 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.