Compare Indiana mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Indiana.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Indiana. Plus, shopping lenders is free and there is no obligation.
December 7, 2023
Below we offer valuable insights on the housing market and real estate prices in Indiana. Understand how much you need to make to buy a house in Indiana, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Indiana is affordable for you. We provide this helpful information to help you decide if living in Indiana is right for you.
The median home value for Indiana is $205,427
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Indiana is $42,855
With this income, you could qualify for a $184,884 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Indiana is $992
The median household income for Indiana is $64,897
Based on this income, you can afford a home valued at approximately $311,085
The home price you can afford to buy based on household income in Indiana is 151% of the median home value which means housing prices are super affordable. Indiana ranks 5 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Indiana is super affordable