Carmel, IN vs Fishers, IN
Side-by-side fiscal comparison · U.S. Census Bureau data (2023)
Carmel, IN outspends Fishers, IN by a wide margin per resident — $16,389 versus $6,900, a 138% difference. A gap this size usually reflects a structurally different service mix or accounting scope rather than a single line item.
Fishers, IN holds the stronger Fiscal Health Score, 84/100 (grade A) against 56/100 (grade C) for Carmel, IN — a 28-point spread that puts the two in different grade territory.
Fishers, IN reports no outstanding debt per resident in its Census filing, while Carmel, IN carries $846 per resident. Both cities pour the most per-resident dollars into the same function: parks and recreation leads in Carmel, IN at $1,484 per resident and in Fishers, IN at $655.
On the revenue side both lean hardest on intergovernmental transfers — 100% of total revenue in Carmel, IN and 61% in Fishers, IN.
Summary
Carmel spends 137.5% more per capita than Fishers ($9,489/person difference). Fishers, IN has the stronger Fiscal Health Score (A, 84/100).
Fiscal Health Score
Key Metrics
Per Capita Spending by Department
Revenue Breakdown (Per Capita)
| Sales Tax | $1,264 | $101 |
| Intergovernmental | $90,764 | $23,257 |
| Charges & Fees | $5,500 | $0 |
| Other | $2,404 | $2,313 |
Spending Breakdown (Per Capita)
| Fire Protection | $166 | $330 |
| Highways & Roads | $354 | $0 |
| Public Welfare | $1,885 | $534 |
| Hospitals | $1,121 | $0 |
| Parks & Recreation | $1,484 | $655 |
| Housing | $2,696 | $1,613 |
| Sewerage | $0 | $169 |
| Utilities | $1,251 | $0 |
| Other | $7,432 | $3,599 |
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Source: Census Annual Survey of State and Local Government Finances, 2026.