Total monthly cost of ownership
Cost to Own a Home in Pendleton, Indiana
A $236,000 home here costs
$1,963per 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 $84,000 a year.
A standard mortgage calculator would have told you $1,287. The real number is $676 higher every month, 53% more than the payment most buyers budget for.
Compare Madison County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Pendleton against Madison County and Indiana
| Measure | Pendleton | Madison County |
|---|---|---|
| Median home value | $236,200 | $147,700 |
| Median property tax | $1,892 | $1,128 |
| Effective tax rate | 0.801% | 0.764% |
| Median gross rent | $1,154 | $926 |
| Population | 5,115 | 130,949 |
The weather behind that power bill
Pendleton sits in Madison County, which averages a high of 83.8°F in its hottest month and a low of 20.7°F in its coldest, with 43.76" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 977 cooling and 5,473 heating degree days, which is what sets the $153 electricity line above.
See the full climate breakdown for Madison County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Madison County
Full Madison County cost breakdown · Every county in Indiana
Talk to someone who works this market
These are Pendleton 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 Pendleton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Pendleton I already own here and may sell
Common questions
How much does it cost to own a home in Pendleton?
A $236,000 home in Pendleton, Indiana costs approximately $1,963 per month with 20% down at 7.24%. That is $1,287 principal and interest, $158 property tax, $101 homeowners insurance, $221 utilities and $197 set aside for maintenance.
What is the property tax rate in Pendleton?
Pendleton has an effective property tax rate of 0.801%, based on a median home value of $236,200 and median real estate taxes of $1,892. That is higher than the Madison County average of 0.764%.
What is the average home price in Pendleton?
The median owner-occupied home value in Pendleton, Indiana is $236,200, against $147,700 across Madison County.
Is it cheaper to rent or buy in Pendleton?
Median gross rent in Pendleton is $1,154 a month, against $1,963 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 Pendleton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Pendleton, Indiana at today's rate takes a household income of roughly $84,000 a year. That covers the full $1,963 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Pendleton, 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.