Carmel, Indiana Demographics & Population 2026
During the 2020–2024 ACS period, Carmel, Indiana had a total population of 101,651, the 6th largest city in Indiana, with a median household income of $141,505, which is 97% higher than the state average. The poverty rate is 3.9%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 97% above the state average — one of the wealthiest communities in Indiana.
- An exceptionally low poverty rate of 3.9% — among the lowest in Indiana.
- 74.4% of adults hold a bachelor's degree or higher — top 10% in Indiana.
Carmel Quick Facts
How Carmel Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 100,501 | 101,651 | +1.1% |
| Median household income | $134,602 | $141,505 | +5.1% |
| Median home value | $455,500 | $486,800 | +6.9% |
How Carmel Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
Moderate diversity with one or two groups making up the majority.
State average: 41 | National average: 61
Education
Educational Attainment (Adults 25+)
Carmel Rankings in Indiana
Explore Indiana Rankings
Other Cities in Hamilton County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Fishers | 102,337 | $130,203 | 4.0% | $391,000 |
| Noblesville | 73,362 | $104,047 | 5.3% | $349,700 |
| Westfield | 54,677 | $122,789 | 3.6% | $425,700 |
| Cicero | 5,509 | $66,934 | 11.5% | $282,100 |
| Sheridan | 3,205 | $66,534 | 3.0% | $195,600 |
| Arcadia | 1,556 | $66,901 | 9.5% | $182,900 |
| Atlanta | 816 | $69,286 | 18.8% | $148,400 |
Cities Similar to Carmel
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Fishers | 102,337 | $130,203 | $391,000 | 66.5% | 4.0% |
| South Bend | 103,085 | $55,786 | $140,400 | 29.3% | 20.8% |
| Noblesville | 73,362 | $104,047 | $349,700 | 51.6% | 5.3% |
| Evansville | 116,116 | $53,387 | $143,100 | 22.8% | 18.4% |
| Westfield | 54,677 | $122,789 | $425,700 | 59.8% | 3.6% |
Population Overview
Carmel is a major urban center located in Indiana, within Hamilton County. The total population is 101,651. It ranks as the 6th most populous out of 967 Census-designated places in Indiana.
Age Demographics
The median age in Carmel is 40.6 years. This is 7% higher than the state median of 38.1 years.
Economy, Income & Housing
The median household income in Carmel is $141,505. This is 97% higher than the state median of $71,957. It is also 75% higher than the national median of $80,734. The poverty rate stands at 3.9%. This is 68% lower than the state poverty rate of 12.3%. This exceptionally low poverty rate indicates strong economic prosperity across the community. The unemployment rate is 2.7%. This is 36% lower than the state rate of 4.3%. The median home value is $486,800. Housing costs are 123% higher than the state median of $218,200. The home-value-to-income ratio is 3.4x. 74.3% of occupied housing units are owner-occupied. This homeownership rate is 5% higher than the state average of 70.5%.
Race & Ethnicity
The largest racial or ethnic group in Carmel is White (non-Hispanic), making up 75.4% of the population. Asian residents account for 11.6%. The Black or African American population (3.0%) is well below the state average of 9.1%. The Asian population is significantly higher than the state average (11.6% vs 2.6%).
Education
74.4% of residents aged 25 and older hold a bachelor's degree or higher. This places Carmel in the top 10% of all cities in the state for educational attainment. This is 152% higher than the state rate of 29.5%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 97.8%. Notably, 31.7% of adults hold a graduate or professional degree, indicating a highly educated workforce.
Data Sources & Methodology
All demographic data for Carmel, Indiana is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against Indiana state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 967 Census-designated places in Indiana. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Carmel, Indiana?
Carmel, Indiana has a population of 101,651 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Carmel, IN?
The median household income in Carmel is $141,505, which is 75% higher than the national median of $80,734.
What is the poverty rate in Carmel, IN?
The poverty rate in Carmel is 3.9%. This means approximately 3,975 residents live below the federal poverty line.
What is the racial makeup of Carmel, Indiana?
Carmel's population is 75.4% White, 3.0% Black, 5.5% Hispanic/Latino, and 11.6% Asian.
What is the median home value in Carmel, IN?
The median home value in Carmel is $486,800. The home-value-to-income ratio is 3.4x.
How educated is Carmel, Indiana?
74.4% of adults (25+) in Carmel hold a bachelor's degree or higher, and 31.7% hold a graduate or professional degree.