Total monthly cost of ownership
Cost to Own a Home in Tipton, Indiana
A $149,000 home here costs
$1,269per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $766. The real number is $503 higher every month — 66% 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.
Tipton against Tipton County and Indiana
| Measure | Tipton | Tipton County |
|---|---|---|
| Median home value | $148,800 | $166,000 |
| Median property tax | $1,014 | $1,069 |
| Effective tax rate | 0.681% | 0.644% |
| Median gross rent | $853 | $854 |
| Population | 5,255 | 15,329 |
The weather behind that power bill
Tipton sits in Tipton County, which averages a high of 84.7°F in its hottest month and a low of 17.0°F in its coldest, with 42.39" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 875 cooling and 5,879 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Tipton County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Tipton County
No other places of this size are published in Tipton County.
Common questions
How much does it cost to own a home in Tipton?
A $149,000 home in Tipton, Indiana costs approximately $1,269 per month with 20% down at 6.66%. That is $766 principal and interest, $85 property tax, $64 homeowners insurance, $231 utilities and $124 set aside for maintenance.
What is the property tax rate in Tipton?
Tipton has an effective property tax rate of 0.681%, based on a median home value of $148,800 and median real estate taxes of $1,014. That is higher than the Tipton County average of 0.644%.
What is the average home price in Tipton?
The median owner-occupied home value in Tipton, Indiana is $148,800, against $166,000 across Tipton County.
Is it cheaper to rent or buy in Tipton?
Median gross rent in Tipton is $853 a month, against $1,269 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 Tipton — 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.