Total monthly cost of ownership
Cost to Own a Home in Rensselaer, Indiana
A $149,000 home here costs
$1,280per 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 $55,000 a year.
A standard mortgage calculator would have told you $812. The real number is $468 higher every month, 58% more than the payment most buyers budget for.
Compare Jasper 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.
Rensselaer against Jasper County and Indiana
| Measure | Rensselaer | Jasper County |
|---|---|---|
| Median home value | $149,100 | $204,400 |
| Median property tax | $704 | $998 |
| Effective tax rate | 0.472% | 0.488% |
| Median gross rent | $868 | $926 |
| Population | 5,369 | 33,198 |
The weather behind that power bill
Rensselaer sits in Jasper County, which averages a high of 83.9°F in its hottest month and a low of 16.1°F in its coldest, with 40.09" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 891 cooling and 6,148 heating degree days, which is what sets the $153 electricity line above.
See the full climate breakdown for Jasper County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Jasper County
Talk to someone who works this market
These are Rensselaer 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 Rensselaer every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Rensselaer I already own here and may sell
Common questions
How much does it cost to own a home in Rensselaer?
A $149,000 home in Rensselaer, Indiana costs approximately $1,280 per month with 20% down at 7.24%. That is $812 principal and interest, $59 property tax, $64 homeowners insurance, $221 utilities and $124 set aside for maintenance.
What is the property tax rate in Rensselaer?
Rensselaer has an effective property tax rate of 0.472%, based on a median home value of $149,100 and median real estate taxes of $704. That is lower than the Jasper County average of 0.488%.
What is the average home price in Rensselaer?
The median owner-occupied home value in Rensselaer, Indiana is $149,100, against $204,400 across Jasper County.
Is it cheaper to rent or buy in Rensselaer?
Median gross rent in Rensselaer is $868 a month, against $1,280 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 Rensselaer?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Rensselaer, Indiana at today's rate takes a household income of roughly $55,000 a year. That covers the full $1,280 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Rensselaer, 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.