Total monthly cost of ownership
Cost to Own a Home in Goshen, Indiana
A $175,000 home here costs
$1,485per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $900. The real number is $585 higher every month — 65% 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.
Goshen against Elkhart County and Indiana
| Measure | Goshen | Elkhart County |
|---|---|---|
| Median home value | $175,200 | $194,400 |
| Median property tax | $1,604 | $1,592 |
| Effective tax rate | 0.916% | 0.819% |
| Median gross rent | $1,045 | $1,023 |
| Population | 34,374 | 206,868 |
The weather behind that power bill
Goshen sits in Elkhart County, which averages a high of 83.3°F in its hottest month and a low of 17.8°F in its coldest, with 39.85" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 793 cooling and 6,116 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Elkhart County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Elkhart County
Full Elkhart County cost breakdown · Every county in Indiana
Common questions
How much does it cost to own a home in Goshen?
A $175,000 home in Goshen, Indiana costs approximately $1,485 per month with 20% down at 6.66%. That is $900 principal and interest, $134 property tax, $75 homeowners insurance, $231 utilities and $146 set aside for maintenance.
What is the property tax rate in Goshen?
Goshen has an effective property tax rate of 0.916%, based on a median home value of $175,200 and median real estate taxes of $1,604. That is higher than the Elkhart County average of 0.819%.
What is the average home price in Goshen?
The median owner-occupied home value in Goshen, Indiana is $175,200, against $194,400 across Elkhart County.
Is it cheaper to rent or buy in Goshen?
Median gross rent in Goshen is $1,045 a month, against $1,485 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 Goshen — 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.