Total monthly cost of ownership
Cost to Own a Home in Shirley, Indiana
A $104,000 home here costs
$997per 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 $42,500 a year.
A standard mortgage calculator would have told you $567. The real number is $430 higher every month, 76% more than the payment most buyers budget for.
Compare Hancock County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Shirley from a five-year rolling sample, and with about 1,026 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 Hancock 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.
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 $153 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
Talk to someone who works this market
These are Shirley 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 Shirley every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Shirley I already own here and may sell
Common questions
How much does it cost to own a home in Shirley?
A $104,000 home in Shirley, Indiana costs approximately $997 per month with 20% down at 7.24%. That is $567 principal and interest, $78 property tax, $44 homeowners insurance, $221 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 $997 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 Shirley?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Shirley, Indiana at today's rate takes a household income of roughly $42,500 a year. That covers the full $997 monthly cost, not just the mortgage payment.
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.