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City · 55,367 residents · Madison County, Indiana

Anderson , Indiana

In Anderson, a typical home is worth $119,000 and typical rent is $925 a month. Compared with all of Madison County, the typical home value is 26% lower, typical household income is 26% lower, and the share of households that own their home is 15 points lower.

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  • Typical home value

    $119,000

    26% below the county

    45% below Indiana

    • Anderson
    • Madison
    • Indiana

  • Typical rent

    $925a month

    About the same as the county

    13% below Indiana

    • Anderson
    • Madison
    • Indiana

  • Typical household income

    $46,909a year

    26% below the county

    35% below Indiana

    • Anderson
    • Madison
    • Indiana

  • Households that own their home

    55%

    15 points below the county

    15 points below Indiana

    • Anderson
    • Madison
    • Indiana

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$132,635
1.1% more than 12 months ago
Typical rent
$1,088 a month
2.9% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Anderson is in Madison County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Madison County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Anderson apart

What this place has that others do not, from public data, most unusual first.

  1. 55% of households in Anderson own their home, against 70% in Madison County.

  2. The typical home in Anderson is worth $119,000, 26% less than in Madison County as a whole ($161,300).

  3. The typical household income in Anderson is $46,909, 26% less than in Madison County as a whole ($63,037).

  4. Nearby, in Alexandria, the typical home value is $97,800: 18% less than in Anderson ($119,000).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Anderson

What homes there are in Anderson, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house is still the most common home in Anderson, but it weighs less than in Madison County: 70% against 78%.

Year built

Homes in Anderson are older: the typical year built is 1961; in Madison County, 1965.

Homes in Anderson are smaller: 48% have 3 bedrooms or more; in Madison County, 62%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

The FHA limit for Madison County is high ($541,287): at least 98% of owner-occupied homes in Anderson are worth less than $500,000.

Monthly rent with utilities

HUD's 2-bedroom fair market rent (FMR) for Madison County is $1,331; about 83% of rents in Anderson are below it.

With a mortgage

$1,050 a month

Madison County: $1,214 a month

Without a mortgage

$452 a month

Madison County: $460 a month

Owners with a mortgage

55%

Madison County: 62%

The typical cost for an owner with a mortgage in Anderson is $1,050 a month, less than in Madison County ($1,214); without one, $452.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Anderson rose 63% since 2015–2019, about the same as in Madison County (66%).

Much as in Madison County, the typical rent in Anderson rose 22% since 2015–2019.

The typical household income in Anderson rose 27% over that time; home values changed +63% and rent +22%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureAndersonMadison CountyIndianaUnited States
Rental vacancy 6.7%5.7%5.6%5.5%
Homeowner vacancy Unreliable estimate0.8%0.8%0.9%
More than one person per room 1.5%1.2%1.8%3.4%
People per household 2.202.372.462.53
Drive alone 74%77%76%69%
Carpool 12%10%9%9%
Public transit Unreliable estimate0%1%3%
Walk or bike 3%2%2%3%
Work from home 10%10%11%15%
Other means Unreliable estimate1%1%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

In Anderson, the rental vacancy rate is 6.7%; in Madison County, 5.7%.

More than one person per room: that is how 1.5% of households in Anderson live, near the figure in Madison County (1.2%).

On average, a household in Anderson has 2.20 people, fewer than in Madison County (2.37).

To get to work, 74% of workers in Anderson drive alone; in Madison County, 77%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Anderson?

A typical home is within reach of the typical income

We start with a typical home in Anderson, worth $119,000, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 25% of the typical household income in Anderson, which is $46,909 a year.

The calculator's FHA and conventional loan limits are those of all of Madison County.

Your numbers

Local data
$

Starts at the typical home value in Anderson. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $4,165 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$977

at 7.18% · 30 years

Loan amount
$116,845
Total interest
$168,112
Paid off in
November 2056

Includes $2,010 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,095 a month

    Your payment · 25%

  • Tight

    $1,095 to $1,407 a month

  • Hard

    more than $1,407 a month

Compared with the typical household income in Anderson ($46,909 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$977
Principal & interest$792
Property tax$83
Home insurance$50
FHA mortgage insurance (MIP)$53

You need at least $4,165 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Anderson and Madison County

Anderson is in Madison County, Indiana. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Anderson's own numbers

Typical home value
$119,000
Typical monthly rent
$925
Typical yearly household income
$46,909
Households that own their home
55%
Effective property tax rate
0.84%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Madison County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,331
Price change over 5 years (FHFA)
+57%
Homes in a high flood-risk zone
2.3%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Madison County.

Everything about Madison County

Buying

Buying a home in Anderson

A typical home in Anderson is worth $119,000: 26% below the county and 45% below Indiana. With the typical household income in Anderson ($46,909 a year), a typical home costs 2.5 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Anderson 2.5 years
  • Madison 2.6 years
  • Indiana 3.0 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Madison County

According to FHFA’s house price index, home prices in Madison County rose 107% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Madison County.

Period County Indiana U.S.
Last year (2025) +3.4% +4.3% +2.9%
5 years (2020–2025) +57% +53% +47%
10 years (2015–2025) +107% +95% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Anderson next to Madison County, Indiana and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Anderson $119,000
  • Madison $161,300
  • Indiana $218,200
  • United States $332,700
Typical monthly rent
  • Anderson $925
  • Madison $939
  • Indiana $1,062
  • United States $1,413
Typical yearly household income
  • Anderson $46,909
  • Madison $63,037
  • Indiana $71,957
  • United States $80,734
See the full table
Anderson next to Madison County and Indiana
Measure Anderson Madison County Indiana U.S.
Typical home value $119,000 $161,300 $218,200 $332,700
Typical monthly rent $925 $939 $1,062 $1,413
Typical yearly household income $46,909 $63,037 $71,957 $80,734
Households that own their home 55% 70% 71% 65%
Typical yearly property tax $996 $1,192 $1,614 $3,119
Effective property tax rate 0.84% 0.74% 0.74% 0.94%
Renters with high rent for their income 51% 49% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Madison County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Anderson

For a typical $119,000 home in Anderson, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Anderson's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $977a month

    Least cash to close
    Down payment
    $4,165
    Cash to close
    $7,735
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $53

  • Conventional, 5% down $955a month

    Down payment
    $5,950
    Cash to close
    $9,520
    Rate
    7.18%
    Mortgage insurance
    PMI · $57

  • Conventional, 20% down, no PMI $778a month

    Down payment
    $23,800
    Cash to close
    $27,370
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $888a month

    Down payment
    $17,850
    Cash to close
    $21,420
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Anderson and for Madison County.

Property tax

Effective rate in Anderson

0.84%of the home’s value each year

$996 a year for the typical owner in Anderson.

  • Anderson 0.84%
  • Madison 0.74%
  • Indiana 0.74%

What Indiana publishes Homestead standard deduction: the amount drops each year (Indiana Department of Local Government Finance (DLGF), Form HC10)

Exemptions and deadlines in Indiana

Flood risk in Madison County

FEMA does not publish these numbers by city: they are for all of Madison County.

Homes in the high-risk zone
2.3%
1,272
Of those, with NFIP insurance
14%
County Indiana U.S.
Homes in the high-risk zone 2.3% 2.3% 3.5%
Of those, with NFIP insurance 14% 17% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Anderson

Typical rent in Anderson is $925 a month: about the same as the county. In Anderson, 51% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Madison County, by unit size. To pay the 2-bedroom one ($1,331 a month) without spending more than 30% of your income, you would need to earn $25.60 an hour working full time.

HUD fair market rent for all of Madison County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,011 $19.44 $40,440
1 bedroom $1,017 $19.56 $40,680
2 bedrooms $1,331 $25.60 $53,240
3 bedrooms $1,743 $33.52 $69,720
4 bedrooms $1,749 $33.63 $69,960

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Anderson

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Anderson has 4 ZIP codes with their own.

For 2 bedrooms it runs from $1,290 in 46013 to $1,520 in 46011.

3 of the 4 are above the fair market rent for Madison County ($1,331).

  • 46011 $1,520$1,990
  • 46012 $1,410$1,840
  • 46013 $1,290$1,690
  • 46016 $1,380$1,810

3 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Anderson when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Anderson

HUD lists 17 buildings with rents for lower incomes in Anderson. These are the largest.

  • The Towers 524 W 53rd St, Anderson 46013 307 homes, 305 low-income · For older adults (765) 642-4917
  • Cambridge Square Anderson 1430 E 60th St, Anderson 46013 150 low-income homes · For older adults (765) 649-7366
  • Cottages of Anderson 3221 Morton St, Anderson 46016 120 low-income homes · 1 bd: 28 · 2 bd: 64 · 3 bd: 28 · In service since 2018 · For older adults
  • Westvale Manor 2207 Fulton St, Anderson 46016 117 low-income homes · Run by Housing Authority of the City of Anderson · Average payment: $329 a month · Average wait: 8 months (765) 641-2620
  • Longfellow Plaza 319 E 12th St, Anderson 46016 100 low-income homes · For older adults (765) 642-9888

See all 25 buildings in Madison County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Anderson

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Madison County; none says it serves in Spanish.

A man leans over the armchair where a girl is reading a book.

HUD counseling is free or low-cost

Assistance programs in Anderson

No down payment, repair or rent-help program on our list is for Anderson or Madison County. The ones below are statewide in Indiana: they work in Anderson the same as in the rest of the state.

Which programs do I qualify for? All programs in Indiana

  • Next Home

    Statewide in Indiana

    Indiana state agency program with down payment assistance of 2.5% or 3.5% of the price, alongside a 30-year FHA or conventional mortgage. Offered by Indiana Housing and Community Development Authority (IHCDA).

    Type not stated

    See the program Official page

  • First Step

    Statewide in Indiana

    Indiana state agency 30-year FHA or conventional mortgage for first-time buyers (or homes in designated areas), with down payment assistance as a second mortgage with no interest or payments, repaid when the first mortgage ends. Offered by Indiana Housing and Community Development Authority (IHCDA).

    Deferred

    See the program Official page

Housing counselors near Anderson

The HUD-approved agencies closest to the center of Anderson, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Transition Resources - Pendleton

    600 Corporation Dr Ste 105, Pendleton · 7 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 7 more
    (866) 844-8556

  • Pathstone Corporation - Indiana

    420 S High St Ste 101, Muncie · 17 miles away · Spanish

    • Budget and financial counseling
    • Budget and credit workshops
    • and 5 more
    (765) 286-2162

  • Habitat for Humanity of Greater Indianapolis

    3135 N Meridian St, Indianapolis · 31 miles away

    • Budget and financial counseling
    • Budget and credit workshops
    • and 2 more
    (317) 777-6084

Every agency in Madison County All counseling agencies in Indiana

Help in Spanish near Anderson

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Anderson

HUD’s record names them for Anderson or Madison County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of the City of Anderson Public housing and Section 8 vouchers (765) 641-2620

One other authority has an office in Madison County: see the list Source: HUD

Cities

Other cities in Madison County

These cities are also in Madison County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Madison County Housing in Indiana

Nearby cities

The cities closest to Anderson, with the typical home value.

Neighboring counties

If Madison County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Anderson.

All guides
A family walks a boardwalk trail in the forest; one of them uses a wheelchair.

Questions

Housing questions about Anderson

Short answers with the numbers for Anderson and all of Madison County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Anderson?

The typical home value in Anderson is $119,000, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Madison County it is $161,300.

How much does it cost to rent in Anderson?

Typical rent in Anderson is $925 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Madison County is $1,331.

What is the FHA loan limit in Anderson?

Anderson uses the FHA limit for all of Madison County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Anderson?

The typical homeowner in Anderson pays $996 a year, according to the U.S. Census Bureau. That is 0.84% of the home’s value; in Madison County, the rate is 0.74%.

Where can I find free help to buy or rent in Anderson?

There is 1 HUD-approved counseling agency with an office in Madison County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).