Quick facts: Shoals, IN

Quick Facts

95.3
Cost of Living
below US average
675
Population
Crime rate Data is updating, will be available soon
$35,724
Median Income
below US average
$139,900
Median House Price
above US average
$1317
Average Rent
below US average
Poverty rate Data is updating, will be available soon
Unemployment Data is updating, will be available soon

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 $35,724.

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Income Needed to Buy

βœ— Stretch
$44k/year
Based on $139,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $44k vs median $35,724
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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 $35,724
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Shoals, IN

Shoals is a small town located in Martin County, Indiana. Nestled in the scenic hills of southern Indiana, it has a population of just over 1,000 residents, giving it a tight-knit community feel. The town is known for its rural charm and friendly atmosphere, making it an inviting place for families and individuals alike. Founded in the 19th century, Shoals offers a blend of historical architecture and modern amenities. The area is characterized by its lush landscapes, with plenty of outdoor recreational opportunities. Nearby attractions include the Hoosier National Forest, which provides numerous hiking trails, camping sites, and wildlife watching opportunities. Shoals also has a rich local culture, highlighted by events and festivals that foster community engagement, such as the annual Labor Day Celebration. Its location in Martin County allows residents easy access to nearby larger towns for shopping and dining. Overall, Shoals is a quaint, peaceful town that captures the essence of small-town Indiana life, perfect for those who appreciate a slower pace surrounded by nature.

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