Total monthly cost of ownership
Cost to Own a Home in Bedford, Indiana
A $137,000 home here costs
$1,226per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $52,500 a year.
A standard mortgage calculator would have told you $747. The real number is $479 higher every month, 64% more than the payment most buyers budget for.
Compare Lawrence County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Bedford against Lawrence County and Indiana
| Measure | Bedford | Lawrence County |
|---|---|---|
| Median home value | $136,900 | $164,500 |
| Median property tax | $1,018 | $994 |
| Effective tax rate | 0.744% | 0.604% |
| Median gross rent | $819 | $800 |
| Population | 13,824 | 45,077 |
The weather behind that power bill
Bedford sits in Lawrence County, which averages a high of 83.9°F in its hottest month and a low of 22.9°F in its coldest, with 48.63" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,043 cooling and 4,897 heating degree days, which is what sets the $153 electricity line above.
See the full climate breakdown for Lawrence County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lawrence County
Full Lawrence County cost breakdown · Every county in Indiana
Talk to someone who works this market
These are Bedford averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Bedford every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Bedford I already own here and may sell
Common questions
How much does it cost to own a home in Bedford?
A $137,000 home in Bedford, Indiana costs approximately $1,226 per month with 20% down at 7.24%. That is $747 principal and interest, $85 property tax, $58 homeowners insurance, $221 utilities and $114 set aside for maintenance.
What is the property tax rate in Bedford?
Bedford has an effective property tax rate of 0.744%, based on a median home value of $136,900 and median real estate taxes of $1,018. That is higher than the Lawrence County average of 0.604%.
What is the average home price in Bedford?
The median owner-occupied home value in Bedford, Indiana is $136,900, against $164,500 across Lawrence County.
Is it cheaper to rent or buy in Bedford?
Median gross rent in Bedford is $819 a month, against $1,226 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Bedford?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Bedford, Indiana at today's rate takes a household income of roughly $52,500 a year. That covers the full $1,226 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Bedford, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Indiana.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.