Quick facts: Mitchell, IN

Quick Facts

95.3
Cost of Living
below US average
3,940
Population
11.42
Crime Rate per 1000
below US average
$51,025
Median Income
below US average
$165,000
Median House Price
above US average
$1317
Average Rent
below US average
10%
Poverty Rate
below US average
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 $51,025.

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Income Needed to Buy

βœ— Stretch
$52k/year
Based on $165,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $52k vs median $51,025
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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 $51,025
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Mitchell, IN

Mitchell, Indiana, nestled in Lawrence County, is a quaint city known for its rich history and small-town charm. Home to approximately 4,500 residents, it offers a friendly atmosphere and a strong sense of community. The city is famously recognized as the "Limestone Capital of the World," with its historic quarries contributing to significant architectural projects nationwide. Key attractions include the Mitchell Opera House, a beautifully restored venue that hosts a variety of performances and events, and Spring Mill State Park, which features natural beauty and historical sites, including a working gristmill and pioneer village. The park is perfect for hiking, picnicking, and exploring local flora and fauna. Mitchell’s downtown area is marked by local shops and eateries, fostering a vibrant community vibe. The city is also in close proximity to larger urban centers, making it an ideal location for those seeking a peaceful life with accessibility to bigger city amenities. Overall, Mitchell is a hidden gem that embodies the spirit of Southern Indiana.

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