Total monthly cost of ownership
Cost to Own a Home in North Manchester, Indiana
A $136,000 home here costs
$1,201per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $51,500 a year.
A standard mortgage calculator would have told you $741. The real number is $460 higher every month, 62% more than the payment most buyers budget for.
Compare Wabash County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for North Manchester from a five-year rolling sample, and with about 4,904 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Wabash County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
North Manchester against Wabash County and Indiana
| Measure | North Manchester | Wabash County |
|---|---|---|
| Median home value | $135,500 | $143,600 |
| Median property tax | $803 | $765 |
| Effective tax rate | 0.593% | 0.533% |
| Median gross rent | $644 | $752 |
| Population | 4,904 | 30,901 |
The weather behind that power bill
North Manchester sits in Wabash County, which averages a high of 84.8°F in its hottest month and a low of 17.9°F in its coldest, with 40.34" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 938 cooling and 5,841 heating degree days, which is what sets the $153 electricity line above.
See the full climate breakdown for Wabash County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Wabash County
Talk to someone who works this market
These are North Manchester averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works North Manchester every week. Free, no obligation, and we never sell your details to a list.
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Common questions
How much does it cost to own a home in North Manchester?
A $136,000 home in North Manchester, Indiana costs approximately $1,201 per month with 20% down at 7.24%. That is $741 principal and interest, $67 property tax, $58 homeowners insurance, $221 utilities and $113 set aside for maintenance.
What is the property tax rate in North Manchester?
North Manchester has an effective property tax rate of 0.593%, based on a median home value of $135,500 and median real estate taxes of $803. That is higher than the Wabash County average of 0.533%.
What is the average home price in North Manchester?
The median owner-occupied home value in North Manchester, Indiana is $135,500, against $143,600 across Wabash County.
Is it cheaper to rent or buy in North Manchester?
Median gross rent in North Manchester is $644 a month, against $1,201 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in North Manchester?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in North Manchester, Indiana at today's rate takes a household income of roughly $51,500 a year. That covers the full $1,201 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for North Manchester, 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.