Total monthly cost of ownership
Cost to Own a Home in North Liberty, Indiana
A $157,000 home here costs
$1,343per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $807. The real number is $535 higher every month — 66% 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.
North Liberty against St. Joseph County and Indiana
| Measure | North Liberty | St. Joseph County |
|---|---|---|
| Median home value | $157,100 | $179,800 |
| Median property tax | $1,279 | $1,559 |
| Effective tax rate | 0.814% | 0.867% |
| Median gross rent | $855 | $1,030 |
| Population | 1,838 | 272,574 |
The weather behind that power bill
North Liberty sits in St. Joseph County, which averages a high of 82.7°F in its hottest month and a low of 17.0°F in its coldest, with 39.23" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 722 cooling and 6,400 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for St. Joseph County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in St. Joseph County
Full St. Joseph County cost breakdown · Every county in Indiana
Common questions
How much does it cost to own a home in North Liberty?
A $157,000 home in North Liberty, Indiana costs approximately $1,343 per month with 20% down at 6.66%. That is $807 principal and interest, $106 property tax, $67 homeowners insurance, $231 utilities and $131 set aside for maintenance.
What is the property tax rate in North Liberty?
North Liberty has an effective property tax rate of 0.814%, based on a median home value of $157,100 and median real estate taxes of $1,279. That is lower than the St. Joseph County average of 0.867%.
What is the average home price in North Liberty?
The median owner-occupied home value in North Liberty, Indiana is $157,100, against $179,800 across St. Joseph County.
Is it cheaper to rent or buy in North Liberty?
Median gross rent in North Liberty is $855 a month, against $1,343 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 North Liberty — 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.