Total monthly cost of ownership
Cost to Own a Home in Hope, Indiana
A $127,000 home here costs
$1,104per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $653. The real number is $451 higher every month — 69% 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.
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 $163 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
Common questions
How much does it cost to own a home in Hope?
A $127,000 home in Hope, Indiana costs approximately $1,104 per month with 20% down at 6.66%. That is $653 principal and interest, $59 property tax, $54 homeowners insurance, $231 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 $1,104 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 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.