Total monthly cost of ownership
Cost to Own a Home in Jimmerson Lake, Indiana
A $317,000 home here costs
$2,479per 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 $106,500 a year.
A standard mortgage calculator would have told you $1,728. The real number is $751 higher every month, 43% more than the payment most buyers budget for.
Compare Steuben County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Jimmerson Lake from a five-year rolling sample, and with about 1,076 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 Steuben 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.
Jimmerson Lake against Steuben County and Indiana
| Measure | Jimmerson Lake | Steuben County |
|---|---|---|
| Median home value | $317,100 | $204,300 |
| Median property tax | $1,562 | $1,188 |
| Effective tax rate | 0.493% | 0.581% |
| Median gross rent | — | $921 |
| Population | 1,076 | 34,648 |
The weather behind that power bill
Jimmerson Lake sits in Steuben County, which averages a high of 81.8°F in its hottest month and a low of 16.0°F in its coldest, with 38.78" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 620 cooling and 6,676 heating degree days, which is what sets the $153 electricity line above.
See the full climate breakdown for Steuben County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Steuben County
Full Steuben County cost breakdown · Every county in Indiana
Talk to someone who works this market
These are Jimmerson Lake 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 Jimmerson Lake every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Jimmerson Lake I already own here and may sell
Common questions
How much does it cost to own a home in Jimmerson Lake?
A $317,000 home in Jimmerson Lake, Indiana costs approximately $2,479 per month with 20% down at 7.24%. That is $1,728 principal and interest, $130 property tax, $135 homeowners insurance, $221 utilities and $264 set aside for maintenance.
What is the property tax rate in Jimmerson Lake?
Jimmerson Lake has an effective property tax rate of 0.493%, based on a median home value of $317,100 and median real estate taxes of $1,562. That is lower than the Steuben County average of 0.581%.
What is the average home price in Jimmerson Lake?
The median owner-occupied home value in Jimmerson Lake, Indiana is $317,100, against $204,300 across Steuben County.
Is it cheaper to rent or buy in Jimmerson Lake?
Rent data is not published for Jimmerson Lake at this level of detail.
What salary do you need to buy a home in Jimmerson Lake?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Jimmerson Lake, Indiana at today's rate takes a household income of roughly $106,500 a year. That covers the full $2,479 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Jimmerson 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.