Total monthly cost of ownership
Cost to Own a Home in Tipton, Indiana
A $149,000 home here costs
$1,306per 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 $56,000 a year.
A standard mortgage calculator would have told you $812. The real number is $494 higher every month, 61% more than the payment most buyers budget for.
Compare Tipton 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.
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 $153 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.
Talk to someone who works this market
These are Tipton 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 Tipton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Tipton I already own here and may sell
Common questions
How much does it cost to own a home in Tipton?
A $149,000 home in Tipton, Indiana costs approximately $1,306 per month with 20% down at 7.24%. That is $812 principal and interest, $85 property tax, $64 homeowners insurance, $221 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 $1,306 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 Tipton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Tipton, Indiana at today's rate takes a household income of roughly $56,000 a year. That covers the full $1,306 monthly cost, not just the mortgage payment.
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.