Sitting at the bottom of the Great Lakes below Michigan and beside Illinois and Ohio, Indiana makes up one of the major crossroads of the region. Indianapolis has several Interstate connections running through and around the city, giving it a hub-and-spoke reach across the rest of the state. Major urban areas include Fort Wayne, Bloomington, South Bend, Evansville, Lafayette, Carmel, and Fishers. The state has a diverse economic base: in terms of energy and natural resources Indiana produces coal, oil, and a growing share of wind and other renewable power. Indiana also draws major tourism every year thanks to its motorsports heritage and the Indianapolis 500. Professional and collegiate sports - football, basketball, and auto racing among them - contribute meaningfully to the state economy.

The Hoosier State is home to roughly 6.97 million residents as of 2025, making it about the 17th-most-populous state in the country, even though it ranks 38th by land area. Indiana's economy remains heavily tied to manufacturing - the state is a national leader in producing motor vehicles, heavy machinery, pharmaceuticals, and medical devices - while health care, life sciences, logistics, and agriculture round out a broad and resilient base.

Places to Live in IN

Indiana has long been one of the more affordable states in the Midwest. As of 2025, the typical home value in Indiana is roughly $254,000 (Zillow), still below the national average and generally more affordable than neighboring Illinois. Values have risen substantially over the past decade, but Indiana continues to offer relatively accessible housing across much of the state. Affluent Indianapolis suburbs such as Carmel and Zionsville carry higher median prices, while many smaller cities and rural communities remain among the most affordable places to buy a home in the region.

Here are a few notable cities in Indiana:

Indianapolis

Population: approximately 895,000 (2024)

Indiana's state capital, Indianapolis, is also its largest city and one of the largest in the United States. The city is well known as the home of major sporting events like the Indianapolis 500. The Indianapolis economy centers on health care, life sciences, manufacturing, logistics, and trade, with Eli Lilly and Company among its anchor employers. Its combination of relatively affordable housing and a diversified economy continues to make Indianapolis an attractive place to buy a home. Fast-growing suburbs such as Carmel and Fishers, each now home to more than 100,000 residents, have expanded the metro's housing options considerably.

Fort Wayne

Population: approximately 269,000 (2024)

Located in northeastern Indiana near the Ohio border, Fort Wayne is the state's second-largest city and has been recognized multiple times as an All-America City. Historically a manufacturing center, Fort Wayne's economy has broadened into logistics, health care, insurance, and professional services. It remains an Indiana city known for affordable housing paired with a steady, diversified economy.

Evansville

Population: approximately 116,000 (2024)

Also known as "River City," Evansville is the largest city in southwest Indiana, anchoring a metro area that reaches into Kentucky. The local economy is defined by manufacturing, health care, and finance. The city is home to the University of Evansville and the University of Southern Indiana.

South Bend

Population: approximately 103,000 (2024)

South Bend is perhaps best known as the home of the University of Notre Dame, located just north of the city in Notre Dame, Indiana. The university is one of the region's largest employers and vital to the local economy, alongside major health systems and manufacturers. South Bend anchors the growing north-central Indiana region.

Local Financial Institutions

As a major Midwestern state, Indiana gives consumers plenty of options when it comes to banking. Here, we break down your choices, with links to reviews where appropriate.

The following banks are headquartered in Indiana. Most are community-focused institutions, although First Internet Bank operates primarily online without traditional branches.

  1. Old National Bank
  2. First Merchants Bank
  3. 1st Source Bank
  4. German American Bank
  5. First Internet Bank
  6. Lake City Bank
  7. Centier Bank
  8. Horizon Bank

Indiana is also home to a number of large, well-established credit unions. Several of the biggest include:

  1. Everwise Credit Union (formerly Teachers Credit Union)
  2. Indiana Members Credit Union
  3. Centra Credit Union
  4. FORUM Credit Union
  5. Evansville Teachers Federal Credit Union
  6. Purdue Federal Credit Union
  7. Financial Center First Credit Union
  8. Notre Dame Federal Credit Union

The following national banks also have branches within Indiana. These are generally good choices if you frequently travel across the country and need access to ATMs wherever you go. They're also a solid bet for the latest banking technology and a broad array of products.

  1. Chase
  2. Fifth Third Bank
  3. PNC
  4. Regions Bank
  5. Truist (formerly BB&T)

Indiana Interest Rates and Homebuyer Resources

Whether you're relocating to be closer to the heart of American motorsports or simply for the quality of life Indiana offers families, RateZip.com can help you compare regional lending options from a range of lenders. You can quickly compare quotes and weigh fixed-rate, adjustable-rate, FHA, and VA home loans side by side. Because rates change daily, we encourage you to review current rates before making a decision rather than relying on any single figure.

First-time buyers in Indiana should also look at the Indiana Housing and Community Development Authority (IHCDA), the state agency that administers down-payment assistance and affordable-mortgage programs through participating lenders. These programs can help qualified buyers with down payment and closing costs.

For residents of Indiana, RateZip also makes it easy to compare banking products, including checking accounts, savings accounts, certificates of deposit (CDs), and money market accounts. When shopping for a bank, it's important to weigh the interest rate you earn against the convenience the bank offers. It may be prudent, for example, to accept a slightly lower rate from a bank with branches near where you live and work.

When Does It Make Sense to Pick a Local Bank?

A local bank might be right for you if you're looking for a financial institution that's community oriented, focused on providing personalized service, and willing to be flexible to keep your business and grow the relationship over time.