Compare Carmel, IN mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Carmel.
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August 22, 2025
Below we provide helpful information on the real estate market, home prices and housing affordability in Carmel. Understand how much you need to earn to afford a home in Carmel, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Carmel fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Carmel is right for you.
The median home value for Carmel, IN (Hamilton County) is $384,066
Based on current mortgage rates and a 10% down payment, you need to make $80,122 per year to buy the median priced home in Carmel
With this income, you could qualify for a $345,659 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Carmel is $1,855
The median household income for Carmel, IN (Hamilton County) is $103,948
Based on this income, you can afford a home valued at approximately $498,273
The home price you can afford to buy based on household income in Carmel is 130% of the median home value which means housing prices are average. Carmel (Hamilton County) ranks 90 out of 92 counties in Indiana and 2,331 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Carmel, IN is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Carmel (Hamilton County) below.
Conforming loan limits for Carmel, IN
FHA loan limits for Carmel, IN