Electricity rates in Carmel, Indiana

Carmel, IN ranks 1st of 35 Indiana cities for the fewest households under $35,000 (7.7%). Carmel, Indiana has 100,501 residents in 38,160 households; 33.3% heat with electricity.

Carmel on the map

Hamilton County, with Carmel marked

Who lives in Carmel: income, cars, homes

In Carmel, IN, 2,932 of 38,160 households earn under $35,000, 7,583 $35,000-$75,000, 10,250 $75,000-$150,000 and 17,395 $150,000 or more. Of 52,838 workers in Carmel, IN, 13,204 work from home, 36,496 drive alone, 27 ride transit and 682 walk. 3,738 residents of Carmel, IN live below the poverty line, and the median age is 40.5. In Carmel, IN, 840 households own no vehicle and 27,268 own two or more; home EV charging depends on that. Carmel, IN homes: 30,207 have 3+ bedrooms, 4,259 none or one, median 7.7 rooms. In Carmel, IN, 4,029 of 9,458 renter households pay 30% or more of income in rent; 13,820 households moved in since 2018 and 6,435 before 2000, so electric accounts turn over at a moderate pace.

Household income in Carmel, IN

% of households by income, Carmel, IN

Under $35,0007.7
$35,000 to $75,00019.9
$75,000 to $150,00026.9
$150,000 or more45.6

Carmel, IN households against Indiana cities with 30,000+ residents
Carmel, IN	Value	Rank in Indiana (1 = highest)
Carmel, IN, households under $35,000	7.7%	35 of 35
Carmel, IN, households $150,000 or more	45.6%	2 of 35
Carmel, IN, residents below poverty	3.7%	33 of 35
Carmel, IN, median age	40.5	3 of 35
Carmel, IN, homes with 3+ bedrooms	74.6%	5 of 35
Carmel, IN, households without a vehicle	2.2%	32 of 35
Carmel, IN, households with 2+ vehicles	71.5%	5 of 35
Carmel, IN, workers at home	25.0%	2 of 35
Carmel, IN, cost-burdened renters	42.6%	27 of 35
Carmel, IN, moved in since 2018	36.2%	23 of 35
Carmel, IN, moved in before 2000	16.9%	17 of 35

Who supplies Carmel

Hamilton County lists 6 utilities for Carmel, IN (100,501 residents): homes pay 12.04 to 16.51 cents per kWh, about $108 to $149 a month at 901 kWh, 1.0% to 1.3% of the $134,602 Carmel median income. Hamilton County page.

Facts about Carmel

Residents of Carmel, IN, ACS 2023: 100,5016 of 35 Indiana cities with 30,000+
Median household income in Carmel, IN: $134,6022 of 35 of those cities
Households in Carmel, IN: 38,1602.63 people each
Owner-occupied homes in Carmel, IN: 74.6%28,450 owners and 9,710 renter households
Housing units in Carmel, IN: 40,4772,317 vacant or seasonal
Homes heated by electricity in Carmel, IN: 33.3%12,708 of 38,160 homes
Land area of Carmel, IN: 49.1 sq mi2,047.4 people per sq mi
Bill as share of income in Carmel, IN: 1.0% to 1.3%at 901 kWh a month over the $134,602 median household income
Wind and tornado reports within 15 miles of Carmel, IN: 186NWS point reports 2015 to 2025, 185.1 per 100,000 residents
Median year homes were built in Carmel, IN: 19979,375 of 40,477 homes (23.2%) before 1980
Median home value and rent in Carmel, IN: $455,500$1,607 gross rent a month, 4.23% of value a year

Electricity price since 2015 around Carmel

Duke Energy Indiana, LLC charged Carmel homes 11.01 ¢/kWh in 2015. Carmel: 12.75 ¢ in 2024, 16% up. Carmel: against 28% up for the Indiana average.

Carmel: a 901 kWh month at that price. Carmel: $99 in 2015, $115 in 2024. Carmel: $1,378 a year, 1.0% of the $134,602 median income.

Carmel: 10 yearly prices

Year	Duke Energy Indiana, LLC, Carmel	Carmel: Gap to Indiana average	Carmel: Gap to U.S. average
2015, Carmel	11.01	-0.56	-1.64
2016, Carmel	11.05	-0.74	-1.50
2017, Carmel	11.63	-0.66	-1.26
2018, Carmel	11.53	-0.73	-1.34
2019, Carmel	11.73	-0.85	-1.28
2020, Carmel	11.68	-1.15	-1.47
2021, Carmel	12.95	-0.42	-0.71
2022, Carmel	15.15	+0.56	+0.11
2023, Carmel	14.31	-0.63	-1.69
2024, Carmel	12.75	-2.02	-3.73

Carmel, IN: EIA-861 home prices, 2015 to 2024, not a Carmel, IN price.

CSV

Housing and heating in Carmel

Carmel, IN: 9,375 of 40,477 homes were built before 1980 and 17,167 in 2000 or later. Carmel, IN has 28,479 detached houses, 8,286 homes in 5+ unit buildings and 128 mobile homes.

Age of homes in Carmel, IN

% of homes by decade built, Carmel, IN

1pre-40
140s
350s
560s
1270s
1380s
2290s
2200s
1910s
220+

Heating fuel in Carmel, IN

% of homes by main fuel, Carmel

Utility gas65.5
Electricity33.3

Carmel, IN housing against its county and state cities
Carmel, IN	Value	County	Gap	Rank (1 = highest)
Carmel, IN, median year built	1997	2000	-3 years	7 of 35
Carmel, IN, built before 1980	23.2%	18.6%	+4.6 points	31 of 35
Carmel, IN, built 2000 or later	42.4%	50.5%	-8.1 points	7 of 35
Carmel, IN, detached houses	70.4%	75.2%	-4.8 points	12 of 35
Carmel, IN, apartments in 5+ unit buildings	20.5%	14.8%	+5.7 points	13 of 35
Carmel, IN, mobile homes	0.3%	1.5%	-1.2 points	32 of 35
Carmel, IN, renter households	25.4%	23.7%	+1.7 points	30 of 35
Carmel, IN, median home value	$455,500	$379,100	+$76,400	2 of 35
Carmel, IN, median gross rent a month	$1,607	$1,468	+$139	2 of 35
Carmel, IN, people per household	2.62	2.67	-0.05	9 of 35

Cost of living with electricity in Carmel

Carmel, IN: 38,160 households at $1,756 a year per home for electricity (Hamilton County average, DOE LEAD) come to about $67.0 million, an estimate; all home energy is $2,574 a year per household.

Home energy cost, Carmel, IN
Group in Carmel, IN	Households	Power per home	Power bill of the group	Share of Carmel, IN median income
Carmel, IN, all households	38,160	$1,756	$67.0 million	1.30%
Carmel, IN, homeowners	28,450	$1,926	$54.8 million	1.43%
Carmel, IN, renters	9,710	$1,208	$11.7 million	0.90%

Outage risk around Carmel

Carmel, IN, NWS reports within 15 miles of the center, 2015 to 2025: 177 wind and 9 tornado, 185.1 per 100,000 residents of 100,501. Top gust near Carmel, IN: 70 knots, 81 mph. Damage near Carmel, IN: $5.7M.

Reports within 15 miles of Carmel, IN

wind and tornado reports, Carmel, IN

22'15
21'16
17'17
8'18
24'19
18'20
8'21
13'22
19'23
4'24
32'25

Storm reports near Carmel, IN
Carmel, IN	Wind	Tornado	Total
Carmel, IN, 2015	21	1	22
Carmel, IN, 2016	16	5	21
Carmel, IN, 2017	17	0	17
Carmel, IN, 2018	8	0	8
Carmel, IN, 2019	24	0	24
Carmel, IN, 2020	18	0	18
Carmel, IN, 2021	8	0	8
Carmel, IN, 2022	13	0	13
Carmel, IN, 2023	18	1	19
Carmel, IN, 2024	4	0	4
Carmel, IN, 2025	30	2	32

Climate and electric heating around Carmel

Carmel is in Hamilton County, IN. Carmel: degree days are county values.

Carmel: 5,669 heating degree days a year. Carmel: 892 cooling degree days a year.

Carmel: degree days, electric heat
Carmel	County value
Carmel, heating degree days, 1991-2020 normal	5,669
Carmel, heating degree days, 2016-2025 mean	5,357
Carmel, cooling degree days, 1991-2020 normal	892
Carmel, cooling degree days, 2016-2025 mean	967
Carmel, homes heated with electricity, ACS 2019-2023	36.6%

Carmel: NOAA nClimDiv 7 Oct 2026; ACS B25040.

Analyst note on Carmel

Household income in Carmel, IN is $134,602; 28,450 of its 38,160 households own. Carmel, IN counts 100,501 residents in 38,160 households, on 49.1 square miles. 12,708 of the 38,160 occupied homes in Carmel, IN heat with electricity.

Carmel, IN has 40,477 housing units, 2,317 of them vacant or seasonal. Carmel, IN ranks 2nd of 35 Indiana cities for the highest median home value ($455,500). Carmel, IN ranks 2nd of 35 Indiana cities for the highest median rent ($1,607 a month).

Carmel, IN ranks 2nd of 35 Indiana cities for median household income ($134,602).

Bill and heat pump calculator, Carmel

Compare Carmel with nearby cities

Nearest Indiana cities with 30,000+ residents to Carmel, IN
City near Carmel, IN	Distance from Carmel	Residents	Median income	Median year built	Median home value	Storm reports within 15 miles	Work from home
Carmel, IN (this page)	0 mi	100,501	$134,602	1997	$455,500	186	25.0%
Westfield, IN	4.9 mi north	51,109 (-49,392)	$119,598 (-$15,004)	2008 (+11 yr)	$391,900 (-$63,600)	138 (-48)	19.1% (-5.9 pts)
Noblesville, IN	9.2 mi northeast	71,940 (-28,561)	$102,319 (-$32,283)	2002 (+5 yr)	$321,800 (-$133,700)	149 (-37)	16.9% (-8.1 pts)
Zionsville, IN	9.4 mi west	31,442 (-69,059)	$159,126 (+$24,524)	1998 (+1 yr)	$543,800 (+$88,300)	148 (-38)	25.2% (+0.2 pts)
Fishers, IN	9.5 mi east	100,918 (+417)	$128,141 (-$6,461)	2002 (+5 yr)	$370,200 (-$85,300)	165 (-21)	21.9% (-3.1 pts)
Lawrence, IN	10.9 mi southeast	49,284 (-51,217)	$73,455 (-$61,147)	1993 (-4 yr)	$220,400 (-$235,100)	210 (+24)	13.5% (-11.5 pts)

ZIP codes in Carmel

ZIP area touching Carmel, IN	Share of the ZIP's land inside Carmel	Share of Carmel's land in the ZIP
46032 (Carmel, IN)	94.5%	48.8%
46033 (Carmel, IN)	83.3%	29.6%
46280 (Carmel, IN)	100.0%	8.4%
46074 (Carmel, IN)	10.2%	7.6%
46077 (Carmel, IN)	3.8%	3.5%
46290 (Carmel, IN)	100.0%	1.3%

Census 2020 ZCTA to place land-area overlap. Look up any ZIP.

Indiana: home prices since 2001, planned plants.

Questions on Carmel

Carmel: what is the electricity rate?

Carmel, IN has no price of its own; its 100,501 residents are served by one of 6 utilities, and a 901 kWh month costs $108 to $149.

Carmel: how does it rank among Indiana cities?

Carmel, IN: rank 6 of 35 by its 100,501 residents, rank 2 of 35 by $134,602 median income.

Carmel: how many homes heat with electricity?

Carmel, IN: 12,708 of 38,160 occupied homes, 33.3%; Hamilton County 36.6%.

Carmel: how much income goes to electricity?

At 901 kWh a month, 1.0% to 1.3% of the $134,602 median income in Carmel, IN.

Carmel: damaging storms reported nearby?

186 NWS wind and tornado reports within 15 miles of the center of Carmel, IN, 2015 to 2025, 185.1 per 100,000 residents.

How old are the homes in Carmel?

Carmel, IN: median home built 1997; 9,375 of 40,477 homes (23.2%) predate 1980, 28,479 are detached and 8,286 sit in buildings of 5+ units.

How many households in Carmel, IN earn under $35,000?

2,932 of 38,160, against 17,395 at $150,000 or more.

How many people in Carmel, IN work from home?

13,204 of 52,838 workers.

How many residents of Carmel, IN live below the poverty line?

3,738 residents.

Primary sources for Carmel, IN

Census Bureau profile of Carmel, IN, ACS data
EIA-861 utility data for Carmel, IN, prices
DOE LEAD tool for Carmel, IN, energy burden
NOAA storms and FEMA flood claims for Carmel, IN