Total monthly cost of ownership
Cost to Own a Home in Prince's Lakes, Indiana
A $229,000 home here costs
$1,898per 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 $81,500 a year.
A standard mortgage calculator would have told you $1,249. The real number is $650 higher every month, 52% more than the payment most buyers budget for.
Compare Johnson County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Prince's Lakes from a five-year rolling sample, and with about 1,257 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Johnson County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Prince's Lakes against Johnson County and Indiana
| Measure | Prince's Lakes | Johnson County |
|---|---|---|
| Median home value | $228,800 | $260,400 |
| Median property tax | $1,674 | $1,875 |
| Effective tax rate | 0.732% | 0.720% |
| Median gross rent | $1,406 | $1,208 |
| Population | 1,257 | 163,983 |
The weather behind that power bill
Prince's Lakes sits in Johnson County, which averages a high of 84.2°F in its hottest month and a low of 17.9°F in its coldest, with 45.36" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 897 cooling and 5,752 heating degree days, which is what sets the $153 electricity line above.
See the full climate breakdown for Johnson County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Johnson County
Full Johnson County cost breakdown · Every county in Indiana
Talk to someone who works this market
These are Prince's Lakes 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 Prince's Lakes every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Prince's Lakes I already own here and may sell
Common questions
How much does it cost to own a home in Prince's Lakes?
A $229,000 home in Prince's Lakes, Indiana costs approximately $1,898 per month with 20% down at 7.24%. That is $1,249 principal and interest, $140 property tax, $98 homeowners insurance, $221 utilities and $191 set aside for maintenance.
What is the property tax rate in Prince's Lakes?
Prince's Lakes has an effective property tax rate of 0.732%, based on a median home value of $228,800 and median real estate taxes of $1,674. That is higher than the Johnson County average of 0.720%.
What is the average home price in Prince's Lakes?
The median owner-occupied home value in Prince's Lakes, Indiana is $228,800, against $260,400 across Johnson County.
Is it cheaper to rent or buy in Prince's Lakes?
Median gross rent in Prince's Lakes is $1,406 a month, against $1,898 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 Prince's Lakes?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Prince's Lakes, Indiana at today's rate takes a household income of roughly $81,500 a year. That covers the full $1,898 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Prince's Lakes, 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.