Total monthly cost of ownership
Cost to Own a Home in Waverly, Indiana
A $254,000 home here costs
$1,943per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,306. The real number is $637 higher every month — 49% 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.
Waverly against Morgan County and Indiana
| Measure | Waverly | Morgan County |
|---|---|---|
| Median home value | $254,100 | $220,100 |
| Median property tax | $1,029 | $1,056 |
| Effective tax rate | 0.405% | 0.480% |
| Median gross rent | — | $988 |
| Population | 1,006 | 72,202 |
The weather behind that power bill
Waverly sits in Morgan County, which averages a high of 83.9°F in its hottest month and a low of 18.9°F in its coldest, with 45.49" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 837 cooling and 5,647 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Morgan County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Morgan County
Common questions
How much does it cost to own a home in Waverly?
A $254,000 home in Waverly, Indiana costs approximately $1,943 per month with 20% down at 6.66%. That is $1,306 principal and interest, $86 property tax, $108 homeowners insurance, $231 utilities and $212 set aside for maintenance.
What is the property tax rate in Waverly?
Waverly has an effective property tax rate of 0.405%, based on a median home value of $254,100 and median real estate taxes of $1,029. That is lower than the Morgan County average of 0.480%.
What is the average home price in Waverly?
The median owner-occupied home value in Waverly, Indiana is $254,100, against $220,100 across Morgan County.
Is it cheaper to rent or buy in Waverly?
Rent data is not published for Waverly at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Waverly — 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.