Total monthly cost of ownership
Cost to Own a Home in Dyer, Indiana
A $289,000 home here costs
$2,427per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $104,000 a year.
A standard mortgage calculator would have told you $1,601. The real number is $827 higher every month, 52% more than the payment most buyers budget for.
Compare Lake 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.
Dyer against Lake County and Indiana
| Measure | Dyer | Lake County |
|---|---|---|
| Median home value | $288,700 | $214,700 |
| Median property tax | $2,922 | $1,987 |
| Effective tax rate | 1.012% | 0.925% |
| Median gross rent | $1,182 | $1,094 |
| Population | 16,400 | 498,990 |
The weather behind that power bill
Dyer sits in Lake County, which averages a high of 85.0°F in its hottest month and a low of 18.4°F in its coldest, with 33.35" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 975 cooling and 5,737 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Lake County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lake County
Talk to someone who works this market
These are Dyer 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 Dyer every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Dyer?
A $289,000 home in Dyer, Indiana costs approximately $2,427 per month with 20% down at 7.4%. That is $1,601 principal and interest, $244 property tax, $123 homeowners insurance, $219 utilities and $241 set aside for maintenance.
What is the property tax rate in Dyer?
Dyer has an effective property tax rate of 1.012%, based on a median home value of $288,700 and median real estate taxes of $2,922. That is higher than the Lake County average of 0.925%.
What is the average home price in Dyer?
The median owner-occupied home value in Dyer, Indiana is $288,700, against $214,700 across Lake County.
Is it cheaper to rent or buy in Dyer?
Median gross rent in Dyer is $1,182 a month, against $2,427 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 Dyer?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Dyer, Indiana at today's rate takes a household income of roughly $104,000 a year. That covers the full $2,427 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Dyer, 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.