Lakeside Indiana Town is the Most Expensive City in the State

Chances are, you would not be able to guess which city is the most expensive in Indiana.

The cost of living in Indiana is much lower than in other states. However, that doesn't mean that it's not hard to get by day to day. A lot of us have felt the struggle of living paycheck to paycheck. It's not a secret that the cost of living is high, and going up. Inflation has caused so much to be more expensive than it has ever been in the past. It makes it hard to pay your bills, buy groceries, and fill up your gas tank when everything is getting more pricey, but your paycheck remains the same. We have all been feeling the weight of how hard it is to get by in today's economy. That being said, some folks are feeling it more than others. That's especially true in one Indiana city.

A while back, we reported on the cheapest and safest places to live in Indiana, now we are going in the opposite direction. What is the most expensive place to live in the state?

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The Most Expensive City in Indiana

I recently found a study conducted earlier this year by GOBankingRates where they found the most expensive city in each state. Here's how they did it:

GOBankingRates was able to find the most expensive city in every state by selecting cities with populations over 10,000 from the U.S. Census American Community Survey. Each city’s cost-of-living index — including overall, grocery, healthcare, housing, utilities and transportation — was sourced from Sperling’s BestPlaces.

Naturally, I was expecting to see a place like Indianapolis, Carmel, or even Fort Wayne to be Indiana's most expensive city. However, that "honor" goes to a city that is located about 35 minutes from Indianapolis. This city is one that I certainly didn't expect. Indiana's most expensive city is Cicero.

According to the Town of Cicero:

The Town of Cicero surrounds the upper portion of Morse Reservoir. The man-made lake covers 1,500 acres with a shoreline of over 32 miles. Considering the fact that over 600 homes are on the water, have water views or access, it is easy to understand why Cicero is Hamilton County’s Recreational and Resort Community.

Seeing how it is a recreational and resort town, it makes a little more sense why GOBankingRates named Cicero the most expensive city in the Hoosier State. GOBankingRates released the following data when it comes to Cicero:

• Cost-of-living index: 106.0

• State cost-of-living index: 83.7

• % higher than state average: 27%

• Average home value: $330,500

Again, I was surprised myself, when I saw this. However, for those who live in the Cicero area, perhaps you aren't. I'm not going to lie, with all of the amazing views, the lake, and activities, this is a place that I'd love to call home. I just have to be able to afford some lakefront property. You can check out the full list of the most expensive places to live in each state by clicking here.