Total monthly cost of ownership
Cost to Own a Home in Winchester, Indiana
A $97,000 home here costs
$925per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $499. The real number is $426 higher every month — 85% 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.
Winchester against Randolph County and Indiana
| Measure | Winchester | Randolph County |
|---|---|---|
| Median home value | $97,000 | $106,000 |
| Median property tax | $872 | $881 |
| Effective tax rate | 0.899% | 0.831% |
| Median gross rent | $727 | $741 |
| Population | 4,912 | 24,425 |
The weather behind that power bill
Winchester sits in Randolph County, which averages a high of 82.8°F in its hottest month and a low of 17.8°F in its coldest, with 40.06" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 830 cooling and 5,983 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Randolph County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Randolph County
Full Randolph County cost breakdown · Every county in Indiana
Common questions
How much does it cost to own a home in Winchester?
A $97,000 home in Winchester, Indiana costs approximately $925 per month with 20% down at 6.66%. That is $499 principal and interest, $73 property tax, $41 homeowners insurance, $231 utilities and $81 set aside for maintenance.
What is the property tax rate in Winchester?
Winchester has an effective property tax rate of 0.899%, based on a median home value of $97,000 and median real estate taxes of $872. That is higher than the Randolph County average of 0.831%.
What is the average home price in Winchester?
The median owner-occupied home value in Winchester, Indiana is $97,000, against $106,000 across Randolph County.
Is it cheaper to rent or buy in Winchester?
Median gross rent in Winchester is $727 a month, against $925 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 Winchester — 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.