Mortgage on a $250K house in Indiana
$1,624 a month with 20% down — $1,345 principal and interest plus $154 property tax and $125 insurance.
Indiana's typical property tax is 0.74% of the home's value a year (U.S. average 0.9%), which adds $154 a month on a $250K home. The typical home in Indiana is worth $257,165, so $250K is right at the typical price.
$250K home in Indiana: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $50,000 | $200,000 | $1,345 | $0 | $279 | $1,624 | $69,600 |
| 10% down | $25,000 | $225,000 | $1,514 | $94 | $279 | $1,886 | $80,800 |
| 5% down | $12,500 | $237,500 | $1,598 | $99 | $279 | $1,975 | $84,700 |
| 3.5% down (FHA) | $8,750 | $245,472 | $1,651 | $111 | $279 | $2,041 | $87,500 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.74% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Indiana does $250K buy a typical home?
In these counties the typical home value is within 15% of $250K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Tipton County | $249,148 | 0.65% | $1,606 |
| Lake County | $250,943 | 0.92% | $1,661 |
| Adams County | $251,184 | 0.77% | $1,631 |
| Wells County | $253,270 | 0.54% | $1,583 |
| Allen County | $254,595 | 0.79% | $1,634 |
| Shelby County | $244,636 | 0.66% | $1,609 |
| De Kalb County | $256,368 | 0.62% | $1,600 |
| Decatur County | $256,719 | 0.62% | $1,599 |
| Noble County | $257,549 | 0.67% | $1,609 |
| Carroll County | $242,285 | 0.56% | $1,587 |
| La Porte County | $258,616 | 0.77% | $1,631 |
| Switzerland County | $259,924 | 0.45% | $1,564 |
55 of 92 Indiana counties tracked by Zillow have a typical home value at or below $250K. See all Indiana home prices.
Other prices in Indiana
Frequently asked questions
What is the mortgage on a $250K house in Indiana?
About $1,624 a month with 20% down at 7.11%: $1,345 principal and interest, $154 property tax and $125 insurance.
How much do I need to make to buy a $250K house in Indiana?
About $69,600 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $250K house in Indiana?
At Indiana's typical effective rate of 0.74%, about $1,846 a year. Rates vary by county and city — see the county pages.