Total monthly cost of ownership
Cost to Own a Home in Topeka, Indiana
A $139,000 home here costs
$1,215per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $715. The real number is $500 higher every month — 70% 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.
Topeka against LaGrange County and Indiana
| Measure | Topeka | LaGrange County |
|---|---|---|
| Median home value | $138,900 | $249,500 |
| Median property tax | $1,125 | $1,352 |
| Effective tax rate | 0.810% | 0.542% |
| Median gross rent | $872 | $816 |
| Population | 1,037 | 40,596 |
The weather behind that power bill
Topeka sits in LaGrange County, which averages a high of 82.9°F in its hottest month and a low of 16.5°F in its coldest, with 38.51" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 731 cooling and 6,427 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for LaGrange County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in LaGrange County
Full LaGrange County cost breakdown · Every county in Indiana
Common questions
How much does it cost to own a home in Topeka?
A $139,000 home in Topeka, Indiana costs approximately $1,215 per month with 20% down at 6.66%. That is $715 principal and interest, $94 property tax, $59 homeowners insurance, $231 utilities and $116 set aside for maintenance.
What is the property tax rate in Topeka?
Topeka has an effective property tax rate of 0.810%, based on a median home value of $138,900 and median real estate taxes of $1,125. That is higher than the LaGrange County average of 0.542%.
What is the average home price in Topeka?
The median owner-occupied home value in Topeka, Indiana is $138,900, against $249,500 across LaGrange County.
Is it cheaper to rent or buy in Topeka?
Median gross rent in Topeka is $872 a month, against $1,215 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 Topeka — 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.