Quick facts: Rensselaer, IN

Quick Facts

95.3
Cost of Living
below US average
5,677
Population
29.06
Crime Rate per 1000
above US average
$58,659
Median Income
below US average
$244,900
Median House Price
above US average
$1317
Average Rent
below US average
8%
Poverty Rate
below US average
3.2%
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 $58,659.

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Income Needed to Buy

βœ— Stretch
$77k/year
Based on $244,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $77k vs median $58,659
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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 ($58,659) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Rensselaer, IN

Rensselaer, located in Jasper County, Indiana, is a small city known for its charming small-town atmosphere and rich agricultural heritage. Founded in the mid-19th century, Rensselaer serves as the county seat and offers a blend of historical sites and modern amenities. The city is home to several parks, providing residents and visitors with recreational opportunities, including fishing, hiking, and sports. Rensselaer has a diverse economy, with agriculture playing a significant role alongside manufacturing and retail businesses. The local community is vibrant, characterized by friendly neighborhoods and a strong sense of local pride. Education is emphasized in the area, with Rensselaer Central Schools serving the community. The city hosts annual events, including the Rensselaer Farmer's Market, which showcases local produce and crafts, and the Jasper County Fair, a celebration of community spirit and agriculture. Additionally, its proximity to major highways allows for easy access to larger cities like Lafayette and Chicago, making it an appealing spot for those seeking a quaint lifestyle without sacrificing convenience.

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