Total monthly cost of ownership
Cost to Own a Home in Heritage Lake, Indiana
A $237,000 home here costs
$1,831per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,218. The real number is $613 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.
Heritage Lake against Putnam County and Indiana
| Measure | Heritage Lake | Putnam County |
|---|---|---|
| Median home value | $237,300 | $205,800 |
| Median property tax | $996 | $978 |
| Effective tax rate | 0.420% | 0.475% |
| Median gross rent | — | $883 |
| Population | 2,913 | 37,091 |
The weather behind that power bill
Heritage Lake sits in Putnam County, which averages a high of 83.2°F in its hottest month and a low of 16.9°F in its coldest, with 46.14" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 733 cooling and 5,973 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Putnam County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Putnam County
Common questions
How much does it cost to own a home in Heritage Lake?
A $237,000 home in Heritage Lake, Indiana costs approximately $1,831 per month with 20% down at 6.66%. That is $1,218 principal and interest, $83 property tax, $101 homeowners insurance, $231 utilities and $198 set aside for maintenance.
What is the property tax rate in Heritage Lake?
Heritage Lake has an effective property tax rate of 0.420%, based on a median home value of $237,300 and median real estate taxes of $996. That is lower than the Putnam County average of 0.475%.
What is the average home price in Heritage Lake?
The median owner-occupied home value in Heritage Lake, Indiana is $237,300, against $205,800 across Putnam County.
Is it cheaper to rent or buy in Heritage Lake?
Rent data is not published for Heritage Lake at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Heritage Lake — 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.