When I graduated Purdue, 9 years ago, there was very little in the way of software jobs at least (And I got the impression that the top companeis hiring Mech E and EE students could be as selective as they wanted). I had to go to one of the coasts to get a sane offer.
The only real job offer I got in Indiana was a one year contract for $30k/year in Fort Wayne, which was less than half the salary for the non-contract position I took in California. There is no sane cost of living adjustment that will cause those to be comparable.
Twin Cities and Chicago areas are exceptions to the rule, when it comes to Midwest. Both have a healthy mix of old-school industrial giants, financial, retail, and new tech and bio companies. This is different from other big metros in the region like Detroit, Cleveland, Cincinnati, St. Louis, and Indianapolis. Pittsburgh is another (arguably) Midwestern city that has a growing new-tech/bio industry (Google and Intel + recently, old-school Bosch Research Center + several medical-sector startups).
The only real job offer I got in Indiana was a one year contract for $30k/year in Fort Wayne, which was less than half the salary for the non-contract position I took in California. There is no sane cost of living adjustment that will cause those to be comparable.