Total monthly cost of ownership
Cost to Own a Home in Lake Holiday, Indiana
A $242,000 home here costs
$1,985per 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 $85,000 a year.
A standard mortgage calculator would have told you $1,319. The real number is $665 higher every month, 50% more than the payment most buyers budget for.
Compare Montgomery County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Lake Holiday from a five-year rolling sample, and with about 1,072 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 Montgomery 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.
Lake Holiday against Montgomery County and Indiana
| Measure | Lake Holiday | Montgomery County |
|---|---|---|
| Median home value | $242,200 | $166,300 |
| Median property tax | $1,669 | $1,047 |
| Effective tax rate | 0.689% | 0.630% |
| Median gross rent | — | $827 |
| Population | 1,072 | 38,155 |
The weather behind that power bill
Lake Holiday sits in Montgomery County, which averages a high of 82.8°F in its hottest month and a low of 17.2°F in its coldest, with 44.16" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 768 cooling and 6,067 heating degree days, which is what sets the $153 electricity line above.
See the full climate breakdown for Montgomery County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Montgomery County
Full Montgomery County cost breakdown · Every county in Indiana
Talk to someone who works this market
These are Lake Holiday 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 Lake Holiday every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Lake Holiday I already own here and may sell
Common questions
How much does it cost to own a home in Lake Holiday?
A $242,000 home in Lake Holiday, Indiana costs approximately $1,985 per month with 20% down at 7.24%. That is $1,319 principal and interest, $139 property tax, $103 homeowners insurance, $221 utilities and $202 set aside for maintenance.
What is the property tax rate in Lake Holiday?
Lake Holiday has an effective property tax rate of 0.689%, based on a median home value of $242,200 and median real estate taxes of $1,669. That is higher than the Montgomery County average of 0.630%.
What is the average home price in Lake Holiday?
The median owner-occupied home value in Lake Holiday, Indiana is $242,200, against $166,300 across Montgomery County.
Is it cheaper to rent or buy in Lake Holiday?
Rent data is not published for Lake Holiday at this level of detail.
What salary do you need to buy a home in Lake Holiday?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lake Holiday, Indiana at today's rate takes a household income of roughly $85,000 a year. That covers the full $1,985 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lake Holiday, 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.