Total monthly cost of ownership
Cost to Own a Home in Tri-Lakes, Indiana
A $294,000 home here costs
$2,271per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,511. The real number is $760 higher every month — 50% 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.
Tri-Lakes against Whitley County and Indiana
| Measure | Tri-Lakes | Whitley County |
|---|---|---|
| Median home value | $293,900 | $205,200 |
| Median property tax | $1,895 | $1,432 |
| Effective tax rate | 0.645% | 0.698% |
| Median gross rent | — | $867 |
| Population | 1,070 | 34,388 |
The weather behind that power bill
Tri-Lakes sits in Whitley County, which averages a high of 82.5°F in its hottest month and a low of 16.2°F in its coldest, with 39.07" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 717 cooling and 6,347 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Whitley County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Whitley County
Full Whitley County cost breakdown · Every county in Indiana
Common questions
How much does it cost to own a home in Tri-Lakes?
A $294,000 home in Tri-Lakes, Indiana costs approximately $2,271 per month with 20% down at 6.66%. That is $1,511 principal and interest, $158 property tax, $125 homeowners insurance, $231 utilities and $245 set aside for maintenance.
What is the property tax rate in Tri-Lakes?
Tri-Lakes has an effective property tax rate of 0.645%, based on a median home value of $293,900 and median real estate taxes of $1,895. That is lower than the Whitley County average of 0.698%.
What is the average home price in Tri-Lakes?
The median owner-occupied home value in Tri-Lakes, Indiana is $293,900, against $205,200 across Whitley County.
Is it cheaper to rent or buy in Tri-Lakes?
Rent data is not published for Tri-Lakes at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Tri-Lakes — 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.