Total monthly cost of ownership
Cost to Own a Home in Underwood, Indiana
A $181,000 home here costs
$1,486per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $931. The real number is $555 higher every month — 60% 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.
Underwood against Clark County and Indiana
| Measure | Underwood | Clark County |
|---|---|---|
| Median home value | $181,300 | $212,400 |
| Median property tax | $1,156 | $1,566 |
| Effective tax rate | 0.638% | 0.737% |
| Median gross rent | — | $1,058 |
| Population | 1,140 | 122,800 |
The weather behind that power bill
Underwood sits in Clark County, which averages a high of 87.9°F in its hottest month and a low of 27.1°F in its coldest, with 48.12" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,543 cooling and 4,150 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Clark County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Clark County
Common questions
How much does it cost to own a home in Underwood?
A $181,000 home in Underwood, Indiana costs approximately $1,486 per month with 20% down at 6.66%. That is $931 principal and interest, $96 property tax, $77 homeowners insurance, $231 utilities and $151 set aside for maintenance.
What is the property tax rate in Underwood?
Underwood has an effective property tax rate of 0.638%, based on a median home value of $181,300 and median real estate taxes of $1,156. That is lower than the Clark County average of 0.737%.
What is the average home price in Underwood?
The median owner-occupied home value in Underwood, Indiana is $181,300, against $212,400 across Clark County.
Is it cheaper to rent or buy in Underwood?
Rent data is not published for Underwood at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Underwood — 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.