Total monthly cost of ownership
Cost to Own a Home in Meridian Hills, Indiana
A $638,000 home here costs
$4,866per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $3,280. The real number is $1,586 higher every month — 48% 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.
Meridian Hills against Marion County and Indiana
| Measure | Meridian Hills | Marion County |
|---|---|---|
| Median home value | $637,800 | $207,000 |
| Median property tax | $6,605 | $1,923 |
| Effective tax rate | 1.036% | 0.929% |
| Median gross rent | — | $1,107 |
| Population | 1,708 | 971,822 |
The weather behind that power bill
Meridian Hills sits in Marion County, which averages a high of 85.2°F in its hottest month and a low of 21.2°F in its coldest, with 40.67" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,127 cooling and 5,221 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Marion County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Marion County
Common questions
How much does it cost to own a home in Meridian Hills?
A $638,000 home in Meridian Hills, Indiana costs approximately $4,866 per month with 20% down at 6.66%. That is $3,280 principal and interest, $551 property tax, $272 homeowners insurance, $231 utilities and $532 set aside for maintenance.
What is the property tax rate in Meridian Hills?
Meridian Hills has an effective property tax rate of 1.036%, based on a median home value of $637,800 and median real estate taxes of $6,605. That is higher than the Marion County average of 0.929%.
What is the average home price in Meridian Hills?
The median owner-occupied home value in Meridian Hills, Indiana is $637,800, against $207,000 across Marion County.
Is it cheaper to rent or buy in Meridian Hills?
Rent data is not published for Meridian Hills at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Meridian Hills — 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.