Your housing dollar certainly goes a long way in Indianapolis.

But it goes even further in another Hoosier city.

The Circle City is No. 12 nationally for most affordable housing costs, according to SmartAsset.com. Indy also ranks among the best for its closing costs and property taxes in the new survey of more than 150 U.S. cities.

According to SmartAsset, Indy's high ranking is based on a number of factors, including its No. 4 ranking for closing costs ($2,036); No. 9 ranking for annual property taxes ($1,292); and No. 19 ranking for average annual mortgage payment ($5,620). It also factors in residents' median annual income of $41,987.

►Historic prices:Indy-area housing market surges to record prices

►Take that, Big Apple:Indy's the envy of New York in new ranking for best places to live

►TV wars:IndyCar CEO Mark Miles: Expect local Indy 500 blackout to continue

As remarkable as Indianapolis' numbers are, it's actually second for overall affordability in Indiana.

SmartAsset says Fort Wayne is not only the most affordable city in Indiana, it's also No. 1 nationwide in its recent survey. By comparison, these are Fort Wayne's numbers: closing costs ($1,992); property taxes ($991); annual mortgage payment ($4,784); and median annual income ($43,774).

One of the major advantages of living in Indianapolis: low taxes. Taxes are 12.47 percent lower than the national average, SmartAsset says.

The city also has comparatively low rates of violent crime (0.54 per 1,000 people, as reported in 2014, which is 0.15 times the national average) and property crime (6.60 property crimes per 1,000 people in 2014 — 0.29 times the national average).

More bang for the buck

SmartAsset, a tech company which does financial modeling to help inform consumers on major decisions regarding refinancing, student loans, retirement and the like, created its affordability index to locate the most affordable housing markets.

Smart Asset also wanted to find out which counties in each state had the most purchasing power — in other words, where would your buck would stretch the furthest?

So it compared median income levels to cost of living data to come up with this list. Hint: Hamilton and Boone counties ranked the highest.

Top Ten Counties in Indiana for Purchasing Power

No. 1, Hamilton, cost of living ($45,085), median income ($86,222), and purchasing power (86.59).

No. 2, Boone, cost of living ($39,161), median income ($67,552), purchasing power (78.11).

No. 3, Hancock, cost of living ($39,123), median income ($66,606), purchasing power (77.09).

No. 4, Porter, cost of living ($37,686), median income ($63,926,) purchasing power (76.81).

No. 5, Hendricks, cost of living ($42,376), median income ($70,163), purchasing power (74.97).

No. 6, Johnson, cost of living ($37,783), median income ($62,147), purchasing power (74.48).

No. 7, Warrick, cost of living ($37,985), median income ($62,185), purchasing power (74.13).

No. 8, Spencer, cost of living ($34,436), median income ($55,247). purchasing power (72.64).

No. 9, Dearborn, cost of living ($36,682), median income ($58,680), purchasing power (72.43).

No. 10, Noble, cost of living ($32,215), median income ($49,331) and purchasing power (69.34).

Call IndyStar digital producer Dwight Adams at (317) 444-6532. Follow him on Twitter: @hdwightadams.

Other stories by Dwight Adams:

►Art controversy:Room with mural of KKK rally will no longer be a classroom, IU says

►Insider's look:Here's how the FBI says the college basketball scandal worked

►Road warriors:Craziest RV features to blow your mind

►Going small:Famed golf course designer Pete Dye brings love of game to Children's Museum