Total monthly cost of ownership
Cost to Own a Home in Ingalls, Indiana
A $161,000 home here costs
$1,400per 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 $60,000 a year.
A standard mortgage calculator would have told you $878. The real number is $523 higher every month, 60% more than the payment most buyers budget for.
Compare Madison County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Ingalls from a five-year rolling sample, and with about 2,453 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 Madison 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.
Ingalls against Madison County and Indiana
| Measure | Ingalls | Madison County |
|---|---|---|
| Median home value | $161,000 | $147,700 |
| Median property tax | $1,182 | $1,128 |
| Effective tax rate | 0.734% | 0.764% |
| Median gross rent | $1,392 | $926 |
| Population | 2,453 | 130,949 |
The weather behind that power bill
Ingalls sits in Madison County, which averages a high of 83.8°F in its hottest month and a low of 20.7°F in its coldest, with 43.76" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 977 cooling and 5,473 heating degree days, which is what sets the $153 electricity line above.
See the full climate breakdown for Madison County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Madison County
Full Madison County cost breakdown · Every county in Indiana
Talk to someone who works this market
These are Ingalls 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 Ingalls every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Ingalls I already own here and may sell
Common questions
How much does it cost to own a home in Ingalls?
A $161,000 home in Ingalls, Indiana costs approximately $1,400 per month with 20% down at 7.24%. That is $878 principal and interest, $98 property tax, $69 homeowners insurance, $221 utilities and $134 set aside for maintenance.
What is the property tax rate in Ingalls?
Ingalls has an effective property tax rate of 0.734%, based on a median home value of $161,000 and median real estate taxes of $1,182. That is lower than the Madison County average of 0.764%.
What is the average home price in Ingalls?
The median owner-occupied home value in Ingalls, Indiana is $161,000, against $147,700 across Madison County.
Is it cheaper to rent or buy in Ingalls?
Median gross rent in Ingalls is $1,392 a month, against $1,400 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 Ingalls?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Ingalls, Indiana at today's rate takes a household income of roughly $60,000 a year. That covers the full $1,400 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ingalls, 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.