Total monthly cost of ownership
Cost to Own a Home in Portage, Indiana
A $211,000 home here costs
$1,781per 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 $76,500 a year.
A standard mortgage calculator would have told you $1,150. The real number is $631 higher every month, 55% more than the payment most buyers budget for.
Compare Porter 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.
Portage against Porter County and Indiana
| Measure | Portage | Porter County |
|---|---|---|
| Median home value | $210,800 | $261,900 |
| Median property tax | $1,719 | $2,172 |
| Effective tax rate | 0.815% | 0.829% |
| Median gross rent | $1,138 | $1,146 |
| Population | 37,951 | 174,150 |
The weather behind that power bill
Portage sits in Porter County, which averages a high of 82.9°F in its hottest month and a low of 17.6°F in its coldest, with 40.27" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 778 cooling and 6,038 heating degree days, which is what sets the $153 electricity line above.
See the full climate breakdown for Porter County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Porter County
Talk to someone who works this market
These are Portage 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 Portage every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Portage I already own here and may sell
Common questions
How much does it cost to own a home in Portage?
A $211,000 home in Portage, Indiana costs approximately $1,781 per month with 20% down at 7.24%. That is $1,150 principal and interest, $143 property tax, $90 homeowners insurance, $221 utilities and $176 set aside for maintenance.
What is the property tax rate in Portage?
Portage has an effective property tax rate of 0.815%, based on a median home value of $210,800 and median real estate taxes of $1,719. That is lower than the Porter County average of 0.829%.
What is the average home price in Portage?
The median owner-occupied home value in Portage, Indiana is $210,800, against $261,900 across Porter County.
Is it cheaper to rent or buy in Portage?
Median gross rent in Portage is $1,138 a month, against $1,781 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 Portage?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Portage, Indiana at today's rate takes a household income of roughly $76,500 a year. That covers the full $1,781 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Portage, 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.