Total monthly cost of ownership
Cost to Own a Home in Galena, Indiana
A $269,000 home here costs
$2,080per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,383. The real number is $697 higher every month — 50% 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.
Galena against Floyd County and Indiana
| Measure | Galena | Floyd County |
|---|---|---|
| Median home value | $269,000 | $235,100 |
| Median property tax | $1,525 | $1,656 |
| Effective tax rate | 0.567% | 0.704% |
| Median gross rent | — | $990 |
| Population | 1,618 | 80,512 |
The weather behind that power bill
Galena sits in Floyd County, which averages a high of 89.0°F in its hottest month and a low of 27.8°F in its coldest, with 48.34" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,742 cooling and 3,936 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Floyd County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Floyd County
Common questions
How much does it cost to own a home in Galena?
A $269,000 home in Galena, Indiana costs approximately $2,080 per month with 20% down at 6.66%. That is $1,383 principal and interest, $127 property tax, $115 homeowners insurance, $231 utilities and $224 set aside for maintenance.
What is the property tax rate in Galena?
Galena has an effective property tax rate of 0.567%, based on a median home value of $269,000 and median real estate taxes of $1,525. That is lower than the Floyd County average of 0.704%.
What is the average home price in Galena?
The median owner-occupied home value in Galena, Indiana is $269,000, against $235,100 across Floyd County.
Is it cheaper to rent or buy in Galena?
Rent data is not published for Galena at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Galena — 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.