The typical owner-occupied home in Thorntown is worth about $193,800, 11% below the Indiana median of $218,200 and 42% below the national median of $332,700. Owners pay a median $1,289 a year in property taxes, about 0.67% of their home's value, lower than the Indiana rate of 0.74%. The median household earns $73,750 a year, so the median home costs 2.6 times the median income (3.0 times for Indiana). 66% of occupied homes here are lived in by their owners, and 66% of those owners still have a mortgage.
Thorntown at a glance
| Thorntown | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $193,800 | $218,200 | $332,700 |
| Median property tax paid per year | $1,289 | $1,614 | $3,119 |
| Property tax as a share of value | 0.67% | 0.74% | 0.94% |
| Median household income | $73,750 | $71,957 | $80,734 |
| Homes lived in by their owners | 66% | 71% | 65% |
| Owner homes with a mortgage | 66% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,236 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 19.6% | 18.1% | 21.0% |
| Median rent | $928 | $1,062 | $1,413 |
| Rent as a share of renters' income | 32.0% | 29.1% | 30.6% |
| Median year homes were built | 1950 | 1976 | 1980 |
| Vacant homes | 6.9% | 8.8% | 10.1% |
| Population | 1,212 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Thorntown
At this week's average 30-year rate of 7.11%, buying the median Thorntown home of $193,800 with 20% down costs about $1,232 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,555, 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 $52,797 for the 20%-down payment. That payment is 20% of the median Thorntown household income of $73,750; at that income and 20% down, the 28% guideline points to a home of about $271,000.
The median rent here is $928 a month, so owning the median home costs about $304 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $38,760 |
|---|---|
| Loan amount | $155,040 |
| Principal and interest | $1,043 |
| Property taxes (0.67% a year) | $108 |
| Homeowners insurance (our estimate, 0.5% a year) | $81 |
| PMI | $0 |
| Total per month | $1,232 |
Change the numbers in the calculator
| Down payment | $6,783 |
|---|---|
| Loan amount | $190,290 |
| Principal and interest | $1,280 |
| Property taxes (0.67% a year) | $108 |
| Homeowners insurance (our estimate, 0.5% a year) | $81 |
| FHA mortgage insurance | $86 |
| Total per month | $1,555 |
Change the numbers in the calculator
Questions about home buying in Thorntown
What is the median home value in Thorntown?
About $193,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Thorntown?
Homeowners pay a median $1,289 a year, which is about 0.67% 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 Thorntown?
For the median home with 20% down at 7.11%, the payment is about $1,232 a month. Keeping that under 28% of gross income takes about $52,797 a year.
More about Thorntown
- Mortgage Refinance in Thorntown
- Debt Relief in Thorntown
- Home Equity Loans in Thorntown
- 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