Total monthly cost of ownership
Cost to Own a Home in South Whitley, Indiana
A $130,000 home here costs
$1,173per 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 $50,500 a year.
A standard mortgage calculator would have told you $709. The real number is $465 higher every month, 66% more than the payment most buyers budget for.
Compare Whitley County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for South Whitley from a five-year rolling sample, and with about 1,412 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 Whitley 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.
South Whitley against Whitley County and Indiana
| Measure | South Whitley | Whitley County |
|---|---|---|
| Median home value | $130,300 | $205,200 |
| Median property tax | $955 | $1,432 |
| Effective tax rate | 0.733% | 0.698% |
| Median gross rent | $735 | $867 |
| Population | 1,412 | 34,388 |
The weather behind that power bill
South Whitley sits in Whitley County, which averages a high of 82.5°F in its hottest month and a low of 16.2°F in its coldest, with 39.07" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 717 cooling and 6,347 heating degree days, which is what sets the $153 electricity line above.
See the full climate breakdown for Whitley County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Whitley County
Full Whitley County cost breakdown · Every county in Indiana
Talk to someone who works this market
These are South Whitley 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 Whitley every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in South Whitley I already own here and may sell
Common questions
How much does it cost to own a home in South Whitley?
A $130,000 home in South Whitley, Indiana costs approximately $1,173 per month with 20% down at 7.24%. That is $709 principal and interest, $79 property tax, $55 homeowners insurance, $221 utilities and $108 set aside for maintenance.
What is the property tax rate in South Whitley?
South Whitley has an effective property tax rate of 0.733%, based on a median home value of $130,300 and median real estate taxes of $955. That is higher than the Whitley County average of 0.698%.
What is the average home price in South Whitley?
The median owner-occupied home value in South Whitley, Indiana is $130,300, against $205,200 across Whitley County.
Is it cheaper to rent or buy in South Whitley?
Median gross rent in South Whitley is $735 a month, against $1,173 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 Whitley?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in South Whitley, Indiana at today's rate takes a household income of roughly $50,500 a year. That covers the full $1,173 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for South Whitley, 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.