Total monthly cost of ownership
Cost to Own a Home in Terre Haute, Indiana
A $110,000 home here costs
$1,055per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $45,000 a year.
A standard mortgage calculator would have told you $609. The real number is $446 higher every month, 73% more than the payment most buyers budget for.
Compare Vigo 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.
Terre Haute against Vigo County and Indiana
| Measure | Terre Haute | Vigo County |
|---|---|---|
| Median home value | $109,500 | $140,400 |
| Median property tax | $1,060 | $1,256 |
| Effective tax rate | 0.968% | 0.895% |
| Median gross rent | $877 | $879 |
| Population | 58,491 | 106,201 |
The weather behind that power bill
Terre Haute sits in Vigo County, which averages a high of 85.9°F in its hottest month and a low of 20.7°F in its coldest, with 40.84" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,077 cooling and 5,235 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Vigo County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Vigo County
Talk to someone who works this market
These are Terre Haute 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 Terre Haute 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 Terre Haute?
A $110,000 home in Terre Haute, Indiana costs approximately $1,055 per month with 20% down at 7.4%. That is $609 principal and interest, $89 property tax, $47 homeowners insurance, $219 utilities and $92 set aside for maintenance.
What is the property tax rate in Terre Haute?
Terre Haute has an effective property tax rate of 0.968%, based on a median home value of $109,500 and median real estate taxes of $1,060. That is higher than the Vigo County average of 0.895%.
What is the average home price in Terre Haute?
The median owner-occupied home value in Terre Haute, Indiana is $109,500, against $140,400 across Vigo County.
Is it cheaper to rent or buy in Terre Haute?
Median gross rent in Terre Haute is $877 a month, against $1,055 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 Terre Haute?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Terre Haute, Indiana at today's rate takes a household income of roughly $45,000 a year. That covers the full $1,055 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Terre Haute, 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.