Quick facts: Decatur, IN

Quick Facts

95.3
Cost of Living
below US average
26,416
Population
4.5
Crime Rate per 1000
below US average
$71,566
Median Income
below US average
$229,900
Median House Price
above US average
$1317
Average Rent
below US average
8%
Poverty Rate
below US average
3.6%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $71,566.

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Income Needed to Buy

βœ— Stretch
$72k/year
Based on $229,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $72k vs median $71,566
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Income Needed to Rent

βœ“ Affordable
$56k/year
Based on $1317/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($71,566) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Decatur, IN

Decatur is a charming city located in Adams County, Indiana, with a rich history and a strong community spirit. Nestled along the banks of the St. Marys River, Decatur is known for its picturesque landscapes and friendly atmosphere. The city serves as a hub for various industries, including manufacturing and agriculture, contributing significantly to the local economy. Culturally, Decatur boasts a variety of events and festivals throughout the year that celebrate its heritage and community connections. The annual Decatur Sculpture Tour showcases local artists and attracts visitors to its downtown area. The city is also home to beautiful parks, like Riverside Park, offering recreational opportunities such as walking trails, picnicking, and sports facilities. Additionally, Decatur’s historic downtown features unique shops, restaurants, and local businesses, providing residents and visitors a taste of local flavor. With a population of around 9,000, Decatur offers a tight-knit community feel while being conveniently located near larger urban centers, making it an ideal place for both work and leisure.

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