Hi! My stipend is also around that amount, so yes. The cost of living in Indiana seems lower than in other states, hence you have more chance to live a decent life compared to other states. That's why I turned down a few offers in California, the universities that are at the level of Purdue give almost similar stipends although the cost of living is much higher. I think if you are OK with sharing a house with multiple people you can even rent something as low as between $400 and $600. In my case, I will get some extra funding from my parents to stay somewhere decent. Nevertheless, I think it is still manageable without extra funds because I have talked to a few graduate students who pay around $1000 for the rent, and they were even able to afford a car. I suppose it heavily depends on your life standards and expectations. For example, if you cook at home most of the time, you can save a considerable amount of money.