Estimated Monthly Payment — Median Indiana Home
$1,626
Based on $235,000 home · 20% down · 6.7% APR · 30-year fixed · taxes & insurance included
Median Price
$235,000
Property Tax
0.84%
Avg. HOA
$150/mo
Median Rent
$1,050/mo
Free · No signup · Adjust every variable
Estimate only. Not a loan offer, approval, pre-approval, or financial advice. Actual payments and terms may vary. Consult a licensed mortgage professional before making real estate decisions.
Market Insights
About the Indiana housing market
Indiana's housing market is well below the national average, with a median home price around $235,000. Indianapolis is the largest metro, with Fort Wayne a close second. Indiana's lower cost of living, growing tech and life-science sectors in Indianapolis, and stable property values make it attractive for first-time buyers. Indiana's effective property tax rate of 0.84% is below the national average.
The median Indiana home costs $235,000. At today's average 30-year fixed rate (6.7%) with 20% down, principal & interest works out to roughly $1,213, and the total monthly payment including taxes, insurance, and average HOA comes to approximately $1,626. First-time buyers in Indiana can explore programs through Indiana HFA.
Photo by Ryan De Hamer on Unsplash
Buying in Indiana?
Explore Indiana HFA programs, check your affordability, and make confident decisions.
Learn about Indiana HFA programs →
FAQ
Indiana mortgage FAQs
What's the property tax rate in Indiana?
Indiana's effective property tax rate averages about 0.84% — below the national average. On a $235,000 home, that's roughly $164/month or $1,974/year.
How much do I need to earn to afford a typical Indiana home?
Using the 28/36 rule, a buyer would need roughly $61,000–$78,000 in gross annual income to comfortably afford Indiana's $235,000 median home with 20% down at current rates.
What first-time buyer programs are available in Indiana?
IHCDA offers the Next Home program with down payment assistance and Mortgage Credit Certificates that can save buyers up to $2,000 annually on federal taxes. Eligibility typically requires being a first-time buyer with income within program limits and completing homebuyer education.
Ready to run the full numbers?
Adjust every variable, explore scenarios, and plan with confidence.