Total monthly cost of ownership
Cost to Own a Home in Russiaville, Indiana
A $175,000 home here costs
$1,504per 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 $64,500 a year.
A standard mortgage calculator would have told you $954. The real number is $550 higher every month, 58% more than the payment most buyers budget for.
Compare Howard County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Russiaville from a five-year rolling sample, and with about 1,374 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 Howard 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.
Russiaville against Howard County and Indiana
| Measure | Russiaville | Howard County |
|---|---|---|
| Median home value | $175,300 | $151,500 |
| Median property tax | $1,296 | $1,110 |
| Effective tax rate | 0.739% | 0.733% |
| Median gross rent | $897 | $915 |
| Population | 1,374 | 83,610 |
The weather behind that power bill
Russiaville sits in Howard County, which averages a high of 83.7°F in its hottest month and a low of 16.7°F in its coldest, with 44.4" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 833 cooling and 6,060 heating degree days, which is what sets the $153 electricity line above.
See the full climate breakdown for Howard County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Howard County
Talk to someone who works this market
These are Russiaville 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 Russiaville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Russiaville I already own here and may sell
Common questions
How much does it cost to own a home in Russiaville?
A $175,000 home in Russiaville, Indiana costs approximately $1,504 per month with 20% down at 7.24%. That is $954 principal and interest, $108 property tax, $75 homeowners insurance, $221 utilities and $146 set aside for maintenance.
What is the property tax rate in Russiaville?
Russiaville has an effective property tax rate of 0.739%, based on a median home value of $175,300 and median real estate taxes of $1,296. That is in line with the Howard County average of 0.733%.
What is the average home price in Russiaville?
The median owner-occupied home value in Russiaville, Indiana is $175,300, against $151,500 across Howard County.
Is it cheaper to rent or buy in Russiaville?
Median gross rent in Russiaville is $897 a month, against $1,504 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 Russiaville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Russiaville, Indiana at today's rate takes a household income of roughly $64,500 a year. That covers the full $1,504 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Russiaville, 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.