Total monthly cost of ownership
Cost to Own a Home in Pendleton, Indiana
A $236,000 home here costs
$1,899per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,213. The real number is $686 higher every month — 57% 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.
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 $163 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
Common questions
How much does it cost to own a home in Pendleton?
A $236,000 home in Pendleton, Indiana costs approximately $1,899 per month with 20% down at 6.66%. That is $1,213 principal and interest, $158 property tax, $101 homeowners insurance, $231 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 $1,899 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 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.