Total monthly cost of ownership
Cost to Own a Home in Liberty, Indiana
A $122,000 home here costs
$1,085per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $627. The real number is $458 higher every month — 73% 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.
Liberty against Union County and Indiana
| Measure | Liberty | Union County |
|---|---|---|
| Median home value | $122,000 | $162,200 |
| Median property tax | $877 | $1,144 |
| Effective tax rate | 0.719% | 0.705% |
| Median gross rent | $745 | $792 |
| Population | 1,958 | 7,028 |
The weather behind that power bill
Liberty sits in Union County, which averages a high of 86.8°F in its hottest month and a low of 21.5°F in its coldest, with 41.42" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,067 cooling and 5,111 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Union County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Union County
No other places of this size are published in Union County.
Common questions
How much does it cost to own a home in Liberty?
A $122,000 home in Liberty, Indiana costs approximately $1,085 per month with 20% down at 6.66%. That is $627 principal and interest, $73 property tax, $52 homeowners insurance, $231 utilities and $102 set aside for maintenance.
What is the property tax rate in Liberty?
Liberty has an effective property tax rate of 0.719%, based on a median home value of $122,000 and median real estate taxes of $877. That is higher than the Union County average of 0.705%.
What is the average home price in Liberty?
The median owner-occupied home value in Liberty, Indiana is $122,000, against $162,200 across Union County.
Is it cheaper to rent or buy in Liberty?
Median gross rent in Liberty is $745 a month, against $1,085 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 Liberty — 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.