2026 data · 0.79% property tax · Median home $190,000
Indiana Mortgage Calculator
A median-priced home in Indiana ($190,000) costs roughly $1,216 per month all-in (PITI), assuming 20% down and a 30-year fixed at 7.0%. Indiana's effective property tax rate is 0.79% — well below the US average of about 1.0%.
Indiana median-home monthly payment
$1,216/mo
P&I $1,011 · Tax $125 · Insurance $79
@ $190,000 price, 20% down, 30-yr fixed at 7.0%
For a custom calculation with your specific numbers (different down payment, rate, term, or home price), use the main mortgage calculator — it includes a full amortization schedule.
Monthly payments at common home prices in Indiana
| Home price | 20% down | P&I | Prop tax | Insurance | Total PITI/mo |
|---|---|---|---|---|---|
| $190,000 (state median) | $38,000 | $1,011 | $125 | $79 | $1,216 |
| $200,000 | $40,000 | $1,064 | $132 | $83 | $1,279 |
| $300,000 | $60,000 | $1,597 | $198 | $125 | $1,919 |
| $400,000 | $80,000 | $2,129 | $263 | $167 | $2,559 |
| $500,000 | $100,000 | $2,661 | $329 | $208 | $3,199 |
| $750,000 | $150,000 | $3,992 | $494 | $313 | $4,798 |
Calculations use Indiana's 0.79% effective property tax rate, estimated homeowners insurance at 0.50%/year of home value, 30-year fixed at 7.0%, no PMI (20% down). Closing costs not included.
Indiana property tax
Effective rate
0.79%
Median home value
$190,000
Median property tax
$1,478/yr
Indiana caps property tax at 1% of assessed value for primary residences (2% for rentals, 3% for commercial). Homestead deduction available for owner-occupied homes.
See our property tax calculator for a state-by-state property tax breakdown, and our Indiana paycheck calculator to estimate take-home pay against this monthly housing cost.
Indiana vs neighboring states
| State | Property tax rate | Median home | Median tax/yr | |
|---|---|---|---|---|
| Indiana (this page) | 0.79% | $190,000 | $1,478 | |
| Michigan | 1.33% | $210,100 | $2,754 | Michigan mortgage → |
| Ohio | 1.36% | $204,200 | $2,770 | Ohio mortgage → |
| Kentucky | 0.80% | $177,400 | $1,382 | Kentucky mortgage → |
| Illinois | 1.97% | $240,100 | $4,942 | Illinois mortgage → |
FAQs about Indiana mortgages
What is the property tax rate in Indiana?
Indiana's effective property tax rate is 0.79%, meaning the average homeowner pays roughly 0.79% of their home's value in property tax annually. On a $190,000 home (the state median), that's about $1,478 per year, or $123 per month added to your mortgage payment.
What is the average monthly mortgage payment in Indiana?
For a home at Indiana's median value of $190,000, assuming 20% down, a 30-year fixed mortgage at 7.0%, and Indiana's 0.79% property tax + estimated insurance, the typical monthly PITI payment is approximately $1,216. This includes $1,011 principal & interest, $125 property tax, and $79 homeowners insurance.
How much income do I need to buy a house in Indiana?
Using the standard 28% front-end DTI rule, you'd need annual income of approximately $52,114 to comfortably afford Indiana's median-priced home. Lenders typically allow up to 43% total DTI (including all debts), which corresponds to about $33,935 annual income at the maximum end. Your specific qualification depends on credit score, down payment, debts, and lender requirements.
Is Indiana a good state to buy a house?
Indiana's combination of 0.79% property tax (well below the national average of ~1.0%) and median home value of $190,000 make it one of the more affordable states for homeowners. Indiana caps property tax at 1% of assessed value for primary residences (2% for rentals, 3% for commercial).
How does Indiana property tax compare to neighboring states?
Indiana's 0.79% rate compares to: Michigan at 1.33%, Ohio at 1.36%, Kentucky at 0.80%, Illinois at 1.97%. Property taxes can differ substantially between bordering states — moving 30 miles across a state line can change your annual tax bill by thousands.
Does Indiana have a homestead exemption?
Indiana caps property tax at 1% of assessed value for primary residences (2% for rentals, 3% for commercial). Homestead deduction available for owner-occupied homes.
What's included in PITI?
PITI stands for Principal, Interest, Taxes, and Insurance — the four standard components of a mortgage payment. For your Indiana mortgage, the breakdown on a median-priced home would be: Principal & Interest $1,011, Property Tax $125, Homeowners Insurance $79. Add PMI if your down payment is under 20%, and HOA fees if your home is in a community with one.