Total monthly cost of ownership
Cost to Own a Home in Danville, Indiana
A $269,000 home here costs
$2,195per 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 $94,000 a year.
A standard mortgage calculator would have told you $1,467. The real number is $729 higher every month, 50% more than the payment most buyers budget for.
Compare Hendricks 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.
Danville against Hendricks County and Indiana
| Measure | Danville | Hendricks County |
|---|---|---|
| Median home value | $269,400 | $281,500 |
| Median property tax | $2,025 | $2,344 |
| Effective tax rate | 0.752% | 0.833% |
| Median gross rent | $1,118 | $1,364 |
| Population | 11,049 | 179,379 |
The weather behind that power bill
Danville sits in Hendricks County, which averages a high of 85.2°F in its hottest month and a low of 21.2°F in its coldest, with 40.67" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,127 cooling and 5,221 heating degree days, which is what sets the $153 electricity line above.
See the full climate breakdown for Hendricks County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hendricks County
Full Hendricks County cost breakdown · Every county in Indiana
Talk to someone who works this market
These are Danville 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 Danville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Danville I already own here and may sell
Common questions
How much does it cost to own a home in Danville?
A $269,000 home in Danville, Indiana costs approximately $2,195 per month with 20% down at 7.24%. That is $1,467 principal and interest, $169 property tax, $115 homeowners insurance, $221 utilities and $224 set aside for maintenance.
What is the property tax rate in Danville?
Danville has an effective property tax rate of 0.752%, based on a median home value of $269,400 and median real estate taxes of $2,025. That is lower than the Hendricks County average of 0.833%.
What is the average home price in Danville?
The median owner-occupied home value in Danville, Indiana is $269,400, against $281,500 across Hendricks County.
Is it cheaper to rent or buy in Danville?
Median gross rent in Danville is $1,118 a month, against $2,195 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 Danville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Danville, Indiana at today's rate takes a household income of roughly $94,000 a year. That covers the full $2,195 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Danville, 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.