Clay
RANK #775 / 996 NAT · #28 / 28 IN · POP 349,527
1YR FORECAST: +0.5%
5YR OUTLOOK: +17%
Carmel, a notable town in Hamilton County, Indiana, is recognized for its urban planning and has received accolades as a desirable place to live. Located directly north of Indianapolis, Hamilton County offers a blend of suburban living with access to urban amenities. Commuting to Indianapolis is facilitated by major interstates and local transportation options like carpooling services and the Hamilton County Express. The county features extensive outdoor recreation, including the Monon Trail, a 24-mile paved path for walking, running, and cycling that connects several towns and extends into downtown Indianapolis. Additionally, Strawtown Koteewi Park offers 750 acres with hiking and equestrian trails.
Life in Hamilton County often appeals to families and young professionals, drawn by highly-rated public schools such as Carmel Clay Schools and Hamilton Southeastern Schools. The local economy is diverse, with growth in sectors like healthcare, professional services, and technology. Recent economic developments include investments in infrastructure and energy, contributing to job growth that is projected to surpass regional and national rates. The county also offers various public transportation services, including options for seniors and individuals with disabilities, enhancing connectivity within the area.
Above national median (4.7x)
Below-average climate & terrain
Above national median (13x)
Housing is fairly valued at 4.9x relative to local economic output. The typical U.S. county is 4–6x.
Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.
Source: Redfin · Census BPS — Browse sales on Redfin →
Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →
Source: EPA Air Quality System (2021–2023). Grade based on 3-year average median AQI. Learn about AQI →
| PROJECT | AMOUNT | STATUS |
|---|---|---|
|
Noblesville Solar Project
Doral Renewables
|
$200M | Planned |
|
Kingfisher Reserve Battery Energy Storage System (BESS)
Aypa Power
|
$200M | Rejected |
|
Hamilton County Government and Judicial Center Expansion
Hamilton County
|
$65M | Planned |
|
RWE Clean Energy Wind/Solar Project
RWE Clean Energy
|
$50M | Proposed |
Source: public records, news, corporate announcements. Amounts are estimates where noted.
Bars show percentile rank among all 996 counties.
At 22/100, Hamilton County faces headwinds that place it in the lower third of the 996 counties we track. Median income of $114,866 combined with job growth of +1.8% suggests the local economy is struggling to keep pace with national trends.
Housing in Hamilton County is roughly in line with national affordability norms. The median home costs $350,900 and the income-to-home-value ratio sits at 0.33, with rents averaging $1,412/month. Not a bargain, but not a stretch for most local earners either.
Hamilton County is growing on multiple fronts. Population is up +2.3% year-over-year while employers added jobs at a +1.8% clip. Home values shifted +2.5% in the past year.
There's a moderate stream of newcomers. About 3.72% of residents moved from another state, which is above average and suggests Hamilton County has appeal as a relocation destination — though it's not among the highest-inflow counties nationally.