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As far as non-college nightlife, Muncie has a (very small) downtown district with some nicer bars... there are also some college strip bars that are geared for alums and a slightly older crowd... Muncie is a vibrant city because of BSU, and the campus has a lot of new facilities that are top-notch, so you will find some decent entertainment (comics, musical acts) on a regular basis. It's not a bad place to live, and it would be a lot less expensive than communities closer to Indy.
You're not going to find much culture or much to do in Noblesville or Fishers, I don't think. They are very suburban communities... so you will still be driving to Indy's north side (Broad Ripple or downtown) to find any real nightlife. But, you will be closer.
Keep in mind that in winter the snow, wind, and ice get bad, and my personal opinion is that the state does a terrible job with snow removal and salting... I-69 gets slick. It's probably more due to the blowing and drifting than anything else... much of the way from Noblesville to Muncie is wide open spaces.
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