Can You Afford to Buy a Home in Terre Haute?
The median home in Terre Haute costs $132,000. To afford it at current mortgage rates with 20% down, you need a household income of about $39,514/year. Your monthly payment would be around $922, including taxes and insurance.
Based on national median home values adjusted by Terre Haute’s Regional Price Parity (87.8). Current 30-year fixed rate: 6.52% (Freddie Mac, as of Jun 11, 2026). Methodology
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Monthly payment breakdown
$132,000 home, 20% down, 6.52% rate, 30-year fixed
Rent vs. buy in Terre Haute
Buying is actually cheaper than renting here by $172/mo, and you build equity. Strong signal to explore homeownership.
What can you afford in Terre Haute?
Home price you can afford at each salary level (28% DTI, 20% down)
| Salary | Home you can afford | Monthly payment |
|---|---|---|
| $50K | $180K | $922 |
| $75K | $295K | $922 |
| $100K | $411K | $922 |
| $125K | $526K | $922 |
| $150K | $641K | $922 |
| $200K | $871K | $922 |
Based on 28% front-end DTI ratio, 20% down payment, 6.52% 30-year fixed rate, 1.1% property tax, ~$150/mo insurance.
Can common careers afford a home in Terre Haute?
Local median salary vs. the $40K needed to buy
Frequently asked questions
What salary do I need to buy a home in Terre Haute?
To comfortably afford the median home ($132,000) in Terre Haute with a 20% down payment and current mortgage rates, you need a household income of about $39,514. That keeps your housing costs at or below 28% of your gross income, which is the standard lender guideline.
How much does a house cost in Terre Haute?
The median home price in the Terre Haute, IN metro area is $132,000, based on the Census ACS 2023 median home value for the metro. Prices vary widely by neighborhood. A 20% down payment would be $26,400, or $6,600 at 5% down.
What would my monthly mortgage be in Terre Haute?
On a $132,000 home with 20% down at current rates, your estimated monthly payment would be $922 including principal, interest, property tax, and insurance. With only 5% down, add about $52/mo for PMI.
Is it cheaper to rent or buy in Terre Haute?
Median 2-bedroom rent in Terre Haute is $1,094/mo (HUD Fair Market Rent). The estimated mortgage payment on the median home is $922/mo. Buying and renting are close in monthly cost, but buying builds equity.