Total monthly cost of ownership
Cost to Own a Home in Galveston, Indiana
A $121,000 home here costs
$1,061per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $622. The real number is $438 higher every month — 70% 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.
Galveston against Cass County and Indiana
| Measure | Galveston | Cass County |
|---|---|---|
| Median home value | $121,200 | $118,700 |
| Median property tax | $659 | $824 |
| Effective tax rate | 0.544% | 0.694% |
| Median gross rent | $639 | $778 |
| Population | 1,326 | 37,703 |
The weather behind that power bill
Galveston sits in Cass County, which averages a high of 84.4°F in its hottest month and a low of 17.8°F in its coldest, with 41.3" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 888 cooling and 5,952 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Cass County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Cass County
Common questions
How much does it cost to own a home in Galveston?
A $121,000 home in Galveston, Indiana costs approximately $1,061 per month with 20% down at 6.66%. That is $622 principal and interest, $55 property tax, $52 homeowners insurance, $231 utilities and $101 set aside for maintenance.
What is the property tax rate in Galveston?
Galveston has an effective property tax rate of 0.544%, based on a median home value of $121,200 and median real estate taxes of $659. That is lower than the Cass County average of 0.694%.
What is the average home price in Galveston?
The median owner-occupied home value in Galveston, Indiana is $121,200, against $118,700 across Cass County.
Is it cheaper to rent or buy in Galveston?
Median gross rent in Galveston is $639 a month, against $1,061 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 Galveston — 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.