Total monthly cost of ownership
Cost to Own a Home in Montgomery, Indiana
A $226,000 home here costs
$1,789per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,162. The real number is $628 higher every month — 54% 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.
Montgomery against Daviess County and Indiana
| Measure | Montgomery | Daviess County |
|---|---|---|
| Median home value | $226,000 | $187,500 |
| Median property tax | $1,341 | $1,276 |
| Effective tax rate | 0.593% | 0.681% |
| Median gross rent | $827 | $837 |
| Population | 1,184 | 33,442 |
The weather behind that power bill
Montgomery sits in Daviess County, which averages a high of 87.4°F in its hottest month and a low of 23.9°F in its coldest, with 47.98" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,370 cooling and 4,494 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Daviess County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Daviess County
Full Daviess County cost breakdown · Every county in Indiana
Common questions
How much does it cost to own a home in Montgomery?
A $226,000 home in Montgomery, Indiana costs approximately $1,789 per month with 20% down at 6.66%. That is $1,162 principal and interest, $112 property tax, $96 homeowners insurance, $231 utilities and $188 set aside for maintenance.
What is the property tax rate in Montgomery?
Montgomery has an effective property tax rate of 0.593%, based on a median home value of $226,000 and median real estate taxes of $1,341. That is lower than the Daviess County average of 0.681%.
What is the average home price in Montgomery?
The median owner-occupied home value in Montgomery, Indiana is $226,000, against $187,500 across Daviess County.
Is it cheaper to rent or buy in Montgomery?
Median gross rent in Montgomery is $827 a month, against $1,789 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 Montgomery — 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.