The typical owner-occupied home in New Washington is worth about $187,500, 14% below the Indiana median of $218,200 and 44% below the national median of $332,700. Owners pay a median $1,094 a year in property taxes, about 0.58% of their home's value, lower than the Indiana rate of 0.74%. The median household earns $81,705 a year, so the median home costs 2.3 times the median income (3.0 times for Indiana). 79% of occupied homes here are lived in by their owners, and 38% of those owners still have a mortgage.
New Washington at a glance
| New Washington | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $187,500 | $218,200 | $332,700 |
| Median property tax paid per year | $1,094 | $1,614 | $3,119 |
| Property tax as a share of value | 0.58% | 0.74% | 0.94% |
| Median household income | $81,705 | $71,957 | $80,734 |
| Homes lived in by their owners | 79% | 71% | 65% |
| Owner homes with a mortgage | 38% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,208 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 18.6% | 18.1% | 21.0% |
| Median rent | – | $1,062 | $1,413 |
| Median year homes were built | 1961 | 1976 | 1980 |
| Vacant homes | 19.0% | 8.8% | 10.1% |
| Population | 351 | 6,851,073 | 334,922,499 |
What a typical home costs per month in New Washington
At this week's average 30-year rate of 7.11%, buying the median New Washington home of $187,500 with 20% down costs about $1,178 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,490, 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 $50,478 for the 20%-down payment. That payment is 17% of the median New Washington household income of $81,705; at that income and 20% down, the 28% guideline points to a home of about $303,000.
| Down payment | $37,500 |
|---|---|
| Loan amount | $150,000 |
| Principal and interest | $1,009 |
| Property taxes (0.58% a year) | $91 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| PMI | $0 |
| Total per month | $1,178 |
Change the numbers in the calculator
| Down payment | $6,562 |
|---|---|
| Loan amount | $184,104 |
| Principal and interest | $1,238 |
| Property taxes (0.58% a year) | $91 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| FHA mortgage insurance | $83 |
| Total per month | $1,490 |
Change the numbers in the calculator
Questions about home buying in New Washington
What is the median home value in New Washington?
About $187,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in New Washington?
Homeowners pay a median $1,094 a year, which is about 0.58% 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 New Washington?
For the median home with 20% down at 7.11%, the payment is about $1,178 a month. Keeping that under 28% of gross income takes about $50,478 a year.
More about New Washington
- Mortgage Refinance in New Washington
- Debt Relief in New Washington
- Home Equity Loans in New Washington
- 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