Total monthly cost of ownership
Cost to Own a Home in Ellettsville, Indiana
A $224,000 home here costs
$1,794per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,152. The real number is $643 higher every month — 56% 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.
Ellettsville against Monroe County and Indiana
| Measure | Ellettsville | Monroe County |
|---|---|---|
| Median home value | $224,400 | $261,700 |
| Median property tax | $1,555 | $1,837 |
| Effective tax rate | 0.693% | 0.702% |
| Median gross rent | $746 | $1,151 |
| Population | 6,653 | 139,822 |
The weather behind that power bill
Ellettsville sits in Monroe County, which averages a high of 85.1°F in its hottest month and a low of 20.6°F in its coldest, with 49.38" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,069 cooling and 5,281 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Monroe County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Monroe County
Common questions
How much does it cost to own a home in Ellettsville?
A $224,000 home in Ellettsville, Indiana costs approximately $1,794 per month with 20% down at 6.66%. That is $1,152 principal and interest, $129 property tax, $96 homeowners insurance, $231 utilities and $187 set aside for maintenance.
What is the property tax rate in Ellettsville?
Ellettsville has an effective property tax rate of 0.693%, based on a median home value of $224,400 and median real estate taxes of $1,555. That is in line with the Monroe County average of 0.702%.
What is the average home price in Ellettsville?
The median owner-occupied home value in Ellettsville, Indiana is $224,400, against $261,700 across Monroe County.
Is it cheaper to rent or buy in Ellettsville?
Median gross rent in Ellettsville is $746 a month, against $1,794 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 Ellettsville — 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.