Total monthly cost of ownership
Cost to Own a Home in Woodburn, Indiana
A $123,000 home here costs
$1,126per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $48,500 a year.
A standard mortgage calculator would have told you $681. The real number is $445 higher every month, 65% more than the payment most buyers budget for.
Compare Allen County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Woodburn from a five-year rolling sample, and with about 1,292 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Allen County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Woodburn against Allen County and Indiana
| Measure | Woodburn | Allen County |
|---|---|---|
| Median home value | $122,900 | $194,300 |
| Median property tax | $856 | $1,559 |
| Effective tax rate | 0.697% | 0.802% |
| Median gross rent | $943 | $976 |
| Population | 1,292 | 388,791 |
The weather behind that power bill
Woodburn sits in Allen County, which averages a high of 84.1°F in its hottest month and a low of 18.4°F in its coldest, with 39.48" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 849 cooling and 5,968 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Allen County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Allen County
Talk to someone who works this market
These are Woodburn averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Woodburn every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Woodburn I already own here and may sell
Common questions
How much does it cost to own a home in Woodburn?
A $123,000 home in Woodburn, Indiana costs approximately $1,126 per month with 20% down at 7.4%. That is $681 principal and interest, $71 property tax, $52 homeowners insurance, $219 utilities and $103 set aside for maintenance.
What is the property tax rate in Woodburn?
Woodburn has an effective property tax rate of 0.697%, based on a median home value of $122,900 and median real estate taxes of $856. That is lower than the Allen County average of 0.802%.
What is the average home price in Woodburn?
The median owner-occupied home value in Woodburn, Indiana is $122,900, against $194,300 across Allen County.
Is it cheaper to rent or buy in Woodburn?
Median gross rent in Woodburn is $943 a month, against $1,126 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Woodburn?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Woodburn, Indiana at today's rate takes a household income of roughly $48,500 a year. That covers the full $1,126 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Woodburn, 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.