Total monthly cost of ownership
Cost to Own a Home in Shirley, Indiana
A $104,000 home here costs
$975per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $535. The real number is $440 higher every month — 82% 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.
Shirley against Hancock County and Indiana
| Measure | Shirley | Hancock County |
|---|---|---|
| Median home value | $103,700 | $258,100 |
| Median property tax | $930 | $1,756 |
| Effective tax rate | 0.897% | 0.680% |
| Median gross rent | $513 | $1,121 |
| Population | 1,026 | 82,013 |
Shirley extends across 2 counties. Figures here use Hancock County, where most of its housing sits.
The weather behind that power bill
Shirley sits in Hancock County, which averages a high of 84.3°F in its hottest month and a low of 18.5°F in its coldest, with 47.77" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 952 cooling and 5,706 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Hancock County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hancock County
Full Hancock County cost breakdown · Every county in Indiana
Common questions
How much does it cost to own a home in Shirley?
A $104,000 home in Shirley, Indiana costs approximately $975 per month with 20% down at 6.66%. That is $535 principal and interest, $78 property tax, $44 homeowners insurance, $231 utilities and $87 set aside for maintenance.
What is the property tax rate in Shirley?
Shirley has an effective property tax rate of 0.897%, based on a median home value of $103,700 and median real estate taxes of $930. That is higher than the Hancock County average of 0.680%.
What is the average home price in Shirley?
The median owner-occupied home value in Shirley, Indiana is $103,700, against $258,100 across Hancock County.
Is it cheaper to rent or buy in Shirley?
Median gross rent in Shirley is $513 a month, against $975 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 Shirley — 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.