Total monthly cost of ownership
Cost to Own a Home in Mitchell, Indiana
A $102,000 home here costs
$967per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $524. The real number is $443 higher every month — 84% 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.
Mitchell against Lawrence County and Indiana
| Measure | Mitchell | Lawrence County |
|---|---|---|
| Median home value | $101,900 | $164,500 |
| Median property tax | $999 | $994 |
| Effective tax rate | 0.980% | 0.604% |
| Median gross rent | $751 | $800 |
| Population | 3,941 | 45,077 |
The weather behind that power bill
Mitchell sits in Lawrence County, which averages a high of 83.9°F in its hottest month and a low of 22.9°F in its coldest, with 48.63" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,043 cooling and 4,897 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Lawrence County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lawrence County
Full Lawrence County cost breakdown · Every county in Indiana
Common questions
How much does it cost to own a home in Mitchell?
A $102,000 home in Mitchell, Indiana costs approximately $967 per month with 20% down at 6.66%. That is $524 principal and interest, $83 property tax, $44 homeowners insurance, $231 utilities and $85 set aside for maintenance.
What is the property tax rate in Mitchell?
Mitchell has an effective property tax rate of 0.980%, based on a median home value of $101,900 and median real estate taxes of $999. That is higher than the Lawrence County average of 0.604%.
What is the average home price in Mitchell?
The median owner-occupied home value in Mitchell, Indiana is $101,900, against $164,500 across Lawrence County.
Is it cheaper to rent or buy in Mitchell?
Median gross rent in Mitchell is $751 a month, against $967 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 Mitchell — 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.