CALCMONEY // MORTGAGE // IN
Calculate your monthly mortgage payment using Indiana-specific property tax rates, current average interest rates, and local median home prices.
Open Full Calculator$235,000
6.95%
0.85%
3.05% flat
How today's 6.95% rate compares to recent years
| Period | 30-Yr Rate | vs. Today |
|---|---|---|
| 2026 (current) | 6.95% | — |
| 2024 avg | 7.37% | -0.42% |
| 2023 avg | 7.80% | -0.85% |
| 2022 peak | 7.63% | -0.68% |
| 2021 avg | 3.55% | +3.40% |
| 2020 avg | 3.35% | +3.60% |
Rate estimates based on Freddie Mac Primary Mortgage Market Survey national averages adjusted for Indiana market conditions. Actual rates vary by lender and borrower profile.
| Principal & Interest | $1,244 |
| Property Tax | $166 |
| Homeowners Insurance (est.) | $78 |
| Total Monthly Payment (PITI) | $1,489 |
$47,000
$260,006
$63,825/yr
Indiana homebuyers face a $235,000 median price, 44% below the national figure. Against the state's $61,900 median household income, that's a 3.8x price-to-income ratio.
At a 0.85% average effective rate, Indiana property taxes add $166 to the monthly payment on the median home, $1,998 a year statewide.
Unlike the nine no-income-tax states, Indiana taxes wage income at 3.05% flat. Worth running your actual take-home pay against the $1,489/month payment here before locking in a target price.
Beyond housing, Indiana's cost of living index sits at 90 (national average = 100), running below the national baseline for groceries, transportation, and healthcare.
Indiana's median home price runs almost identical to Michigan, both landing close to $235,000.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $188,000 loan saves $8,460 in interest over 30 years.
Compare Top Indiana Mortgage Lenders