Quick facts: Merom, IN

Quick Facts

95.3
Cost of Living
below US average
206
Population
4.85
Crime Rate per 1000
below US average
$40,938
Median Income
below US average
$49,900
Median House Price
above US average
$1317
Average Rent
below US average
Poverty rate Data is updating, will be available soon
3.5%
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 $40,938.

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Income Needed to Buy

βœ“ Affordable
$16k/year
Based on $49,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($40,938) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$56k/year
Based on $1317/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $56k vs median $40,938
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Merom, IN

Merom is a small town located in Sullivan County, Indiana. Situated along the banks of the Wabash River, it offers a quaint, rural atmosphere with a close-knit community vibe. The town’s population is relatively small, reflecting its status as a peaceful residential area. Merom has a rich history, with roots tracing back to the 19th century. It was once a thriving steamboat landing, which contributed to its development in earlier days. The area is characterized by its scenic landscapes, featuring lush greenery and wooded areas, making it an attractive spot for nature enthusiasts. Nearby attractions include the Sullivan County Fairgrounds, which host various events throughout the year, and the Wabash River, providing opportunities for fishing, boating, and outdoor recreation. Merom is also in proximity to larger cities like Sullivan and Terre Haute, offering residents access to more amenities, shopping, and entertainment options. Overall, Merom embodies the charm of small-town Indiana, with a welcoming community and a peaceful way of life.

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