Total monthly cost of ownership
Cost to Own a Home in Lowell, Indiana
A $237,000 home here costs
$1,924per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,218. The real number is $706 higher every month — 58% 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.
Lowell against Lake County and Indiana
| Measure | Lowell | Lake County |
|---|---|---|
| Median home value | $236,900 | $214,700 |
| Median property tax | $2,108 | $1,987 |
| Effective tax rate | 0.890% | 0.925% |
| Median gross rent | $1,222 | $1,094 |
| Population | 10,911 | 498,990 |
The weather behind that power bill
Lowell sits in Lake County, which averages a high of 85.0°F in its hottest month and a low of 18.4°F in its coldest, with 33.35" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 975 cooling and 5,737 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Lake County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lake County
Common questions
How much does it cost to own a home in Lowell?
A $237,000 home in Lowell, Indiana costs approximately $1,924 per month with 20% down at 6.66%. That is $1,218 principal and interest, $176 property tax, $101 homeowners insurance, $231 utilities and $198 set aside for maintenance.
What is the property tax rate in Lowell?
Lowell has an effective property tax rate of 0.890%, based on a median home value of $236,900 and median real estate taxes of $2,108. That is lower than the Lake County average of 0.925%.
What is the average home price in Lowell?
The median owner-occupied home value in Lowell, Indiana is $236,900, against $214,700 across Lake County.
Is it cheaper to rent or buy in Lowell?
Median gross rent in Lowell is $1,222 a month, against $1,924 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 Lowell — 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.