Total monthly cost of ownership
Cost to Own a Home in Cloverdale, Indiana
A $117,000 home here costs
$1,029per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $601. The real number is $428 higher every month — 71% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Cloverdale against Putnam County and Indiana
| Measure | Cloverdale | Putnam County |
|---|---|---|
| Median home value | $117,300 | $205,800 |
| Median property tax | $592 | $978 |
| Effective tax rate | 0.505% | 0.475% |
| Median gross rent | $699 | $883 |
| Population | 2,219 | 37,091 |
The weather behind that power bill
Cloverdale sits in Putnam County, which averages a high of 83.2°F in its hottest month and a low of 16.9°F in its coldest, with 46.14" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 733 cooling and 5,973 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Putnam County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Putnam County
Common questions
How much does it cost to own a home in Cloverdale?
A $117,000 home in Cloverdale, Indiana costs approximately $1,029 per month with 20% down at 6.66%. That is $601 principal and interest, $49 property tax, $50 homeowners insurance, $231 utilities and $98 set aside for maintenance.
What is the property tax rate in Cloverdale?
Cloverdale has an effective property tax rate of 0.505%, based on a median home value of $117,300 and median real estate taxes of $592. That is higher than the Putnam County average of 0.475%.
What is the average home price in Cloverdale?
The median owner-occupied home value in Cloverdale, Indiana is $117,300, against $205,800 across Putnam County.
Is it cheaper to rent or buy in Cloverdale?
Median gross rent in Cloverdale is $699 a month, against $1,029 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Cloverdale — 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.