Total monthly cost of ownership
Cost to Own a Home in South Haven, Indiana
A $164,000 home here costs
$1,414per 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 $60,500 a year.
A standard mortgage calculator would have told you $894. The real number is $519 higher every month, 58% more than the payment most buyers budget for.
Compare Porter 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.
South Haven against Porter County and Indiana
| Measure | South Haven | Porter County |
|---|---|---|
| Median home value | $163,500 | $261,900 |
| Median property tax | $1,093 | $2,172 |
| Effective tax rate | 0.669% | 0.829% |
| Median gross rent | $1,308 | $1,146 |
| Population | 7,177 | 174,150 |
The weather behind that power bill
South Haven sits in Porter County, which averages a high of 82.9°F in its hottest month and a low of 17.6°F in its coldest, with 40.27" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 778 cooling and 6,038 heating degree days, which is what sets the $153 electricity line above.
See the full climate breakdown for Porter County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Porter County
Talk to someone who works this market
These are South Haven 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 South Haven every week. Free, no obligation, and we never sell your details to a list.
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Common questions
How much does it cost to own a home in South Haven?
A $164,000 home in South Haven, Indiana costs approximately $1,414 per month with 20% down at 7.24%. That is $894 principal and interest, $91 property tax, $70 homeowners insurance, $221 utilities and $137 set aside for maintenance.
What is the property tax rate in South Haven?
South Haven has an effective property tax rate of 0.669%, based on a median home value of $163,500 and median real estate taxes of $1,093. That is lower than the Porter County average of 0.829%.
What is the average home price in South Haven?
The median owner-occupied home value in South Haven, Indiana is $163,500, against $261,900 across Porter County.
Is it cheaper to rent or buy in South Haven?
Median gross rent in South Haven is $1,308 a month, against $1,414 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 South Haven?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in South Haven, Indiana at today's rate takes a household income of roughly $60,500 a year. That covers the full $1,414 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for South Haven, 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.