Total monthly cost of ownership
Cost to Own a Home in Petersburg, Indiana
A $95,000 home here costs
$901per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $488. The real number is $412 higher every month — 84% 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.
Petersburg against Pike County and Indiana
| Measure | Petersburg | Pike County |
|---|---|---|
| Median home value | $94,700 | $128,400 |
| Median property tax | $735 | $1,044 |
| Effective tax rate | 0.776% | 0.813% |
| Median gross rent | $634 | $676 |
| Population | 2,141 | 12,187 |
The weather behind that power bill
Petersburg sits in Pike County, which averages a high of 85.7°F in its hottest month and a low of 21.9°F in its coldest, with 47.9" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,033 cooling and 5,064 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Pike County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Pike County
No other places of this size are published in Pike County.
Common questions
How much does it cost to own a home in Petersburg?
A $95,000 home in Petersburg, Indiana costs approximately $901 per month with 20% down at 6.66%. That is $488 principal and interest, $61 property tax, $41 homeowners insurance, $231 utilities and $79 set aside for maintenance.
What is the property tax rate in Petersburg?
Petersburg has an effective property tax rate of 0.776%, based on a median home value of $94,700 and median real estate taxes of $735. That is lower than the Pike County average of 0.813%.
What is the average home price in Petersburg?
The median owner-occupied home value in Petersburg, Indiana is $94,700, against $128,400 across Pike County.
Is it cheaper to rent or buy in Petersburg?
Median gross rent in Petersburg is $634 a month, against $901 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 Petersburg — 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.