Total monthly cost of ownership
Cost to Own a Home in Montpelier, Indiana
A $77,000 home here costs
$779per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $396. The real number is $383 higher every month — 97% 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.
Montpelier against Blackford County and Indiana
| Measure | Montpelier | Blackford County |
|---|---|---|
| Median home value | $77,100 | $96,700 |
| Median property tax | $663 | $779 |
| Effective tax rate | 0.860% | 0.806% |
| Median gross rent | $649 | $635 |
| Population | 1,444 | 12,007 |
The weather behind that power bill
Montpelier sits in Blackford County, which averages a high of 83.2°F in its hottest month and a low of 18.9°F in its coldest, with 41.74" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 887 cooling and 5,828 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Blackford County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Blackford County
Full Blackford County cost breakdown · Every county in Indiana
Common questions
How much does it cost to own a home in Montpelier?
A $77,000 home in Montpelier, Indiana costs approximately $779 per month with 20% down at 6.66%. That is $396 principal and interest, $55 property tax, $33 homeowners insurance, $231 utilities and $64 set aside for maintenance.
What is the property tax rate in Montpelier?
Montpelier has an effective property tax rate of 0.860%, based on a median home value of $77,100 and median real estate taxes of $663. That is higher than the Blackford County average of 0.806%.
What is the average home price in Montpelier?
The median owner-occupied home value in Montpelier, Indiana is $77,100, against $96,700 across Blackford County.
Is it cheaper to rent or buy in Montpelier?
Median gross rent in Montpelier is $649 a month, against $779 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 Montpelier — 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.