Total monthly cost of ownership
Cost to Own a Home in Hope, Indiana
A $127,000 home here costs
$1,133per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $48,500 a year.
A standard mortgage calculator would have told you $692. The real number is $441 higher every month, 64% more than the payment most buyers budget for.
Compare Bartholomew County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Hope from a five-year rolling sample, and with about 1,988 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Bartholomew County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Hope against Bartholomew County and Indiana
| Measure | Hope | Bartholomew County |
|---|---|---|
| Median home value | $127,200 | $221,100 |
| Median property tax | $715 | $1,597 |
| Effective tax rate | 0.562% | 0.722% |
| Median gross rent | $1,101 | $1,110 |
| Population | 1,988 | 82,881 |
The weather behind that power bill
Hope sits in Bartholomew County, which averages a high of 86.1°F in its hottest month and a low of 21.5°F in its coldest, with 47.34" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,127 cooling and 5,082 heating degree days, which is what sets the $153 electricity line above.
See the full climate breakdown for Bartholomew County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Bartholomew County
Full Bartholomew County cost breakdown · Every county in Indiana
Talk to someone who works this market
These are Hope averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Hope every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Hope?
A $127,000 home in Hope, Indiana costs approximately $1,133 per month with 20% down at 7.24%. That is $692 principal and interest, $59 property tax, $54 homeowners insurance, $221 utilities and $106 set aside for maintenance.
What is the property tax rate in Hope?
Hope has an effective property tax rate of 0.562%, based on a median home value of $127,200 and median real estate taxes of $715. That is lower than the Bartholomew County average of 0.722%.
What is the average home price in Hope?
The median owner-occupied home value in Hope, Indiana is $127,200, against $221,100 across Bartholomew County.
Is it cheaper to rent or buy in Hope?
Median gross rent in Hope is $1,101 a month, against $1,133 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Hope?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Hope, Indiana at today's rate takes a household income of roughly $48,500 a year. That covers the full $1,133 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Hope, 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.