Total monthly cost of ownership
Cost to Own a Home in Oakland City, Indiana
A $102,000 home here costs
$952per 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 $428 higher every month — 82% 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.
Oakland City against Gibson County and Indiana
| Measure | Oakland City | Gibson County |
|---|---|---|
| Median home value | $102,000 | $170,500 |
| Median property tax | $814 | $1,244 |
| Effective tax rate | 0.798% | 0.730% |
| Median gross rent | $883 | $914 |
| Population | 2,635 | 32,986 |
The weather behind that power bill
Oakland City sits in Gibson County, which averages a high of 88.0°F in its hottest month and a low of 21.1°F in its coldest, with 49.84" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,303 cooling and 4,920 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Gibson County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Gibson County
Common questions
How much does it cost to own a home in Oakland City?
A $102,000 home in Oakland City, Indiana costs approximately $952 per month with 20% down at 6.66%. That is $524 principal and interest, $68 property tax, $44 homeowners insurance, $231 utilities and $85 set aside for maintenance.
What is the property tax rate in Oakland City?
Oakland City has an effective property tax rate of 0.798%, based on a median home value of $102,000 and median real estate taxes of $814. That is higher than the Gibson County average of 0.730%.
What is the average home price in Oakland City?
The median owner-occupied home value in Oakland City, Indiana is $102,000, against $170,500 across Gibson County.
Is it cheaper to rent or buy in Oakland City?
Median gross rent in Oakland City is $883 a month, against $952 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 Oakland City — 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.