Total monthly cost of ownership
Cost to Own a Home in Middlebury, Indiana
A $230,000 home here costs
$1,877per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,182. The real number is $695 higher every month — 59% 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.
Middlebury against Elkhart County and Indiana
| Measure | Middlebury | Elkhart County |
|---|---|---|
| Median home value | $230,300 | $194,400 |
| Median property tax | $2,086 | $1,592 |
| Effective tax rate | 0.906% | 0.819% |
| Median gross rent | $1,072 | $1,023 |
| Population | 3,681 | 206,868 |
The weather behind that power bill
Middlebury sits in Elkhart County, which averages a high of 83.3°F in its hottest month and a low of 17.8°F in its coldest, with 39.85" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 793 cooling and 6,116 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Elkhart County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Elkhart County
Full Elkhart County cost breakdown · Every county in Indiana
Common questions
How much does it cost to own a home in Middlebury?
A $230,000 home in Middlebury, Indiana costs approximately $1,877 per month with 20% down at 6.66%. That is $1,182 principal and interest, $174 property tax, $98 homeowners insurance, $231 utilities and $192 set aside for maintenance.
What is the property tax rate in Middlebury?
Middlebury has an effective property tax rate of 0.906%, based on a median home value of $230,300 and median real estate taxes of $2,086. That is higher than the Elkhart County average of 0.819%.
What is the average home price in Middlebury?
The median owner-occupied home value in Middlebury, Indiana is $230,300, against $194,400 across Elkhart County.
Is it cheaper to rent or buy in Middlebury?
Median gross rent in Middlebury is $1,072 a month, against $1,877 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 Middlebury — 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.