The typical owner-occupied home in Decatur is worth about $142,800, 35% below the Indiana median of $218,200 and 57% below the national median of $332,700. Owners pay a median $1,142 a year in property taxes, about 0.80% of their home's value, higher than the Indiana rate of 0.74%. The median household earns $58,646 a year, so the median home costs 2.4 times the median income (3.0 times for Indiana). 77% of occupied homes here are lived in by their owners, and 64% of those owners still have a mortgage.
Decatur at a glance
| Decatur | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $142,800 | $218,200 | $332,700 |
| Median property tax paid per year | $1,142 | $1,614 | $3,119 |
| Property tax as a share of value | 0.80% | 0.74% | 0.94% |
| Median household income | $58,646 | $71,957 | $80,734 |
| Homes lived in by their owners | 77% | 71% | 65% |
| Owner homes with a mortgage | 64% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,114 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 19.2% | 18.1% | 21.0% |
| Median rent | $820 | $1,062 | $1,413 |
| Rent as a share of renters' income | 27.5% | 29.1% | 30.6% |
| Median year homes were built | 1969 | 1976 | 1980 |
| Vacant homes | 6.9% | 8.8% | 10.1% |
| Population | 9,811 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Decatur
At this week's average 30-year rate of 7.11%, buying the median Decatur home of $142,800 with 20% down costs about $923 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,161, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $39,566 for the 20%-down payment. That payment is 19% of the median Decatur household income of $58,646; at that income and 20% down, the 28% guideline points to a home of about $212,000.
The median rent here is $820 a month, so owning the median home costs about $103 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $28,560 |
|---|---|
| Loan amount | $114,240 |
| Principal and interest | $768 |
| Property taxes (0.80% a year) | $95 |
| Homeowners insurance (our estimate, 0.5% a year) | $60 |
| PMI | $0 |
| Total per month | $923 |
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| Down payment | $4,998 |
|---|---|
| Loan amount | $140,214 |
| Principal and interest | $943 |
| Property taxes (0.80% a year) | $95 |
| Homeowners insurance (our estimate, 0.5% a year) | $60 |
| FHA mortgage insurance | $63 |
| Total per month | $1,161 |
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Questions about home buying in Decatur
What is the median home value in Decatur?
About $142,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Decatur?
Homeowners pay a median $1,142 a year, which is about 0.80% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Decatur?
For the median home with 20% down at 7.11%, the payment is about $923 a month. Keeping that under 28% of gross income takes about $39,566 a year.
More about Decatur
- Mortgage Refinance in Decatur
- Debt Relief in Decatur
- Home Equity Loans in Decatur
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data