Total monthly cost of ownership
Cost to Own a Home in Trafalgar, Indiana
A $216,000 home here costs
$1,783per 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 $76,500 a year.
A standard mortgage calculator would have told you $1,178. The real number is $606 higher every month, 51% more than the payment most buyers budget for.
Compare Johnson County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Trafalgar from a five-year rolling sample, and with about 1,433 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 Johnson 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.
Trafalgar against Johnson County and Indiana
| Measure | Trafalgar | Johnson County |
|---|---|---|
| Median home value | $216,400 | $260,400 |
| Median property tax | $1,350 | $1,875 |
| Effective tax rate | 0.624% | 0.720% |
| Median gross rent | $1,000 | $1,208 |
| Population | 1,433 | 163,983 |
The weather behind that power bill
Trafalgar sits in Johnson County, which averages a high of 84.2°F in its hottest month and a low of 17.9°F in its coldest, with 45.36" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 897 cooling and 5,752 heating degree days, which is what sets the $153 electricity line above.
See the full climate breakdown for Johnson County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Johnson County
Full Johnson County cost breakdown · Every county in Indiana
Talk to someone who works this market
These are Trafalgar 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 Trafalgar every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Trafalgar I already own here and may sell
Common questions
How much does it cost to own a home in Trafalgar?
A $216,000 home in Trafalgar, Indiana costs approximately $1,783 per month with 20% down at 7.24%. That is $1,178 principal and interest, $112 property tax, $92 homeowners insurance, $221 utilities and $180 set aside for maintenance.
What is the property tax rate in Trafalgar?
Trafalgar has an effective property tax rate of 0.624%, based on a median home value of $216,400 and median real estate taxes of $1,350. That is lower than the Johnson County average of 0.720%.
What is the average home price in Trafalgar?
The median owner-occupied home value in Trafalgar, Indiana is $216,400, against $260,400 across Johnson County.
Is it cheaper to rent or buy in Trafalgar?
Median gross rent in Trafalgar is $1,000 a month, against $1,783 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 Trafalgar?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Trafalgar, Indiana at today's rate takes a household income of roughly $76,500 a year. That covers the full $1,783 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Trafalgar, 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.