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EconPulse

Local economy signal dashboard

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PLACEThriving

Westfield, IN

Thriving overall. GDP / Output is the clearest support signal, while housing needs the most attention. Housing reads as affordable for a median-income household.

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Overall score87out of 100
Compare
100
84
100
77
80

Population

54,677

Data freshness

Unknown

GDP / Output

+8.8% YoY

100

$31.6B

Output changed +8.8% in 2024.

Vintage date unknown

State growth4.6%
U.S. growth5.3%

Jobs

Unemployment rate

84

2.8%

Unemployment is 2.8% for Latest available.

Vintage date unknown

State avg4.3%
U.S. avg5.2%

Population

+31.3% 5-year

100

54,677

Population moved +31.3% over the latest ACS window.

Vintage date unknown

State population6,851,073
U.S. population334,922,499

Housing

Rent share of income

77

16.3%

Median rent consumes 16.3% of median household income: Affordable.

Vintage date unknown

State rent$1.1K
U.S. rent$1.4K
HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

Federal Funds

$5.6K per resident

80

$1.9B

$1.9B in federal obligations flowed here in FY2025.

Vintage date unknown

State total$207.1B
U.S. total$5.3T

Population and output

Trend Snapshot

Reported share

Industry Breakdown

FY2025

Federal Money

Federal obligations

$1.9B

$5.6K per resident in reported federal flow.

Top agencies

Dollars
1. Social Security Administration$1.6B
2. Department of Veterans Affairs$145.3M
3. Department of Justice$46.5M

Top recipients

Dollars
1. SEVEN CORNERS INC$45.9M
2. INDIANA DEPARTMENT OF TRANSPORTATION$42.3M
3. AHEPA AFFORDABLE HOUSING MANAGEMENT CO$12.3M

Affordable

Housing Affordability

16.3%

of median income

1BR estimate$1,367
2BR estimate$1,800
Median income$122,789
Median home value$425,700

ACS context

Quick Facts

Population

54,677

Median age

36.9

Bachelor's degree+

59.8%

Poverty rate

3.6%

Labor force participation

73.1%

Prime rate

6.8%

CPI YoY

+3.2%

U.S. GDP YoY

+6.5%

Sources and warnings

Data Provenance

Census ACS 5-year

2024

BLS LAUS / CPS

Latest available

BEA regional CAGDP1

2024

USAspending

FY2025

FRED

2026-07-30

HUD Fair Market Rent

Latest available

Data notes
  • HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

5-year compound growth

Historical Trends

Population CAGR

+5.6%

GDP CAGR

+8.2%

Federal flow

5 years

Population (5 years)
202041,652
202145,695
202248,262
202351,109
202454,677
GDP (5 years)
2020$21.4B
2021$24.1B
2022$26.7B
2023$29.1B
2024$31.6B

2-year linear forecast

Predictive Outlook

Population forecast

202454,677
202557,718 *
202660,865 *

R² = 99.5% · * projected

GDP forecast

2024$31.6B
2025$34.2B *
2026$36.8B *

R² = 100.0% · * projected

Linear regression over available historical data. Projections are estimates based on past trends and do not account for policy changes, economic shocks, or other external factors.

housing affordability breakdown

Cost of Living

Median household income$122,789/yr
Median rent$1,667/mo
Rent share of income16.3%
Est. mortgage (30yr, 6.5%)$25,831/yr
Mortgage share of income21.0%

Rent data from Census ACS 5-year. Mortgage estimate assumes 20% down, 6.5% APR, 30-year fixed.

employment snapshot

Job Market

Unemployment rate2.8%
State avg4.3%
U.S. avg5.2%
Labor force participation73.1%
Poverty rate3.6%

Data from BLS LAUS / CPS. Latest available.

valuation snapshot

Real Estate

Median home value$425,700
Median monthly rent$1,667
Price-to-rent ratio21.3x

High price-to-rent ratio — renting may be more economical than buying in this market.

composite score

Investment Climate

Investment climateStrong
Composite score93/100
Economic growth100/100
Labor market84/100
Population momentum100/100
Overall stability87/100

Composite score weighs economic growth, labor market health, population momentum, and overall stability. Not financial advice.

Location Context

Westfield city, Indiana

City/Town

Part of

Indianapolis-Carmel-Greenwood, IN

Nearby locations

Hortonville, INCarmel, INSheridan, INNoblesville, INCicero, IN