Total monthly cost of ownership
Cost to Own a Home in Washington, Indiana
A $131,000 home here costs
$1,158per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $673. The real number is $484 higher every month — 72% 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.
Washington against Daviess County and Indiana
| Measure | Washington | Daviess County |
|---|---|---|
| Median home value | $130,700 | $187,500 |
| Median property tax | $1,053 | $1,276 |
| Effective tax rate | 0.806% | 0.681% |
| Median gross rent | $854 | $837 |
| Population | 12,192 | 33,442 |
The weather behind that power bill
Washington sits in Daviess County, which averages a high of 87.4°F in its hottest month and a low of 23.9°F in its coldest, with 47.98" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,370 cooling and 4,494 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Daviess County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Daviess County
Full Daviess County cost breakdown · Every county in Indiana
Common questions
How much does it cost to own a home in Washington?
A $131,000 home in Washington, Indiana costs approximately $1,158 per month with 20% down at 6.66%. That is $673 principal and interest, $88 property tax, $56 homeowners insurance, $231 utilities and $109 set aside for maintenance.
What is the property tax rate in Washington?
Washington has an effective property tax rate of 0.806%, based on a median home value of $130,700 and median real estate taxes of $1,053. That is higher than the Daviess County average of 0.681%.
What is the average home price in Washington?
The median owner-occupied home value in Washington, Indiana is $130,700, against $187,500 across Daviess County.
Is it cheaper to rent or buy in Washington?
Median gross rent in Washington is $854 a month, against $1,158 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 Washington — 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.