Total monthly cost of ownership
Cost to Own a Home in Greenwood, Indiana
A $249,000 home here costs
$1,972per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,280. The real number is $691 higher every month — 54% 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.
Greenwood against Johnson County and Indiana
| Measure | Greenwood | Johnson County |
|---|---|---|
| Median home value | $248,700 | $260,400 |
| Median property tax | $1,756 | $1,875 |
| Effective tax rate | 0.706% | 0.720% |
| Median gross rent | $1,252 | $1,208 |
| Population | 64,237 | 163,983 |
The weather behind that power bill
Greenwood sits in Johnson County, which averages a high of 84.2°F in its hottest month and a low of 17.9°F in its coldest, with 45.36" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 897 cooling and 5,752 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Johnson County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Johnson County
Full Johnson County cost breakdown · Every county in Indiana
Common questions
How much does it cost to own a home in Greenwood?
A $249,000 home in Greenwood, Indiana costs approximately $1,972 per month with 20% down at 6.66%. That is $1,280 principal and interest, $146 property tax, $106 homeowners insurance, $231 utilities and $208 set aside for maintenance.
What is the property tax rate in Greenwood?
Greenwood has an effective property tax rate of 0.706%, based on a median home value of $248,700 and median real estate taxes of $1,756. That is lower than the Johnson County average of 0.720%.
What is the average home price in Greenwood?
The median owner-occupied home value in Greenwood, Indiana is $248,700, against $260,400 across Johnson County.
Is it cheaper to rent or buy in Greenwood?
Median gross rent in Greenwood is $1,252 a month, against $1,972 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 Greenwood — 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.