Total monthly cost of ownership
Cost to Own a Home in Winfield, Indiana
A $401,000 home here costs
$3,090per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,062. The real number is $1,028 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.
Winfield against Lake County and Indiana
| Measure | Winfield | Lake County |
|---|---|---|
| Median home value | $401,200 | $214,700 |
| Median property tax | $3,506 | $1,987 |
| Effective tax rate | 0.874% | 0.925% |
| Median gross rent | $1,981 | $1,094 |
| Population | 7,501 | 498,990 |
The weather behind that power bill
Winfield sits in Lake County, which averages a high of 85.0°F in its hottest month and a low of 18.4°F in its coldest, with 33.35" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 975 cooling and 5,737 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Lake County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lake County
Common questions
How much does it cost to own a home in Winfield?
A $401,000 home in Winfield, Indiana costs approximately $3,090 per month with 20% down at 6.66%. That is $2,062 principal and interest, $292 property tax, $171 homeowners insurance, $231 utilities and $334 set aside for maintenance.
What is the property tax rate in Winfield?
Winfield has an effective property tax rate of 0.874%, based on a median home value of $401,200 and median real estate taxes of $3,506. That is lower than the Lake County average of 0.925%.
What is the average home price in Winfield?
The median owner-occupied home value in Winfield, Indiana is $401,200, against $214,700 across Lake County.
Is it cheaper to rent or buy in Winfield?
Median gross rent in Winfield is $1,981 a month, against $3,090 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 Winfield — 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.