Chicago · Registered nurse · $98,500 · One adult, renting a 1-bedroomSaved on this device

Chicago · Registered nurse · $98,500 · One adult, renting a 1-bedroom

Indianapolis, IN

Housing in Indianapolis, IN: Rent, Home Prices & Property Tax

$1,189/mo (1 bd) in Indianapolis. Median home $244,000. Property tax 0.86%.

Compare vs Chicago Rank metros from IndianapolisHow we figure this

Rent (1 bd): $1,189; /mo
Buy: $1,632; Mortgage, tax, insurance
Buying costs more: $443; /mo

State tax and rent

To buy

20% down payment$48,800
Mortgage at 6.5%$1,234
Property tax (0.86% of value)$175/mo · $2,098/yr
Insurance and upkeep$224
Monthly total$1,632

45.4% of renters spend 30% or more of income on rent. Census ACS 2023.

Months to 20% down

$2,485 left each month. About 20 months (1.7 years) to save $48,800.

Asking rent. Census median home price. 30-year fixed, 6.5%, 20% down. Not lending advice.

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