The typical owner-occupied home in Elnora is worth about $101,300, 54% below the Indiana median of $218,200 and 70% below the national median of $332,700. Owners pay a median $807 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 $41,786 a year, so the median home costs 2.4 times the median income (3.0 times for Indiana). 71% of occupied homes here are lived in by their owners, and 61% of those owners still have a mortgage.
Elnora at a glance
| Elnora | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $101,300 | $218,200 | $332,700 |
| Median property tax paid per year | $807 | $1,614 | $3,119 |
| Property tax as a share of value | 0.80% | 0.74% | 0.94% |
| Median household income | $41,786 | $71,957 | $80,734 |
| Homes lived in by their owners | 71% | 71% | 65% |
| Owner homes with a mortgage | 61% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $853 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 21.5% | 18.1% | 21.0% |
| Median rent | $625 | $1,062 | $1,413 |
| Rent as a share of renters' income | 33.4% | 29.1% | 30.6% |
| Median year homes were built | 1941 | 1976 | 1980 |
| Vacant homes | 16.3% | 8.8% | 10.1% |
| Population | 531 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Elnora
At this week's average 30-year rate of 7.11%, buying the median Elnora home of $101,300 with 20% down costs about $655 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $824, 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 $28,067 for the 20%-down payment. That payment is 19% of the median Elnora household income of $41,786; at that income and 20% down, the 28% guideline points to a home of about $151,000.
The median rent here is $625 a month, so owning the median home costs about $30 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $20,260 |
|---|---|
| Loan amount | $81,040 |
| Principal and interest | $545 |
| Property taxes (0.80% a year) | $68 |
| Homeowners insurance (our estimate, 0.5% a year) | $42 |
| PMI | $0 |
| Total per month | $655 |
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| Down payment | $3,546 |
|---|---|
| Loan amount | $99,465 |
| Principal and interest | $669 |
| Property taxes (0.80% a year) | $68 |
| Homeowners insurance (our estimate, 0.5% a year) | $42 |
| FHA mortgage insurance | $45 |
| Total per month | $824 |
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Questions about home buying in Elnora
What is the median home value in Elnora?
About $101,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Elnora?
Homeowners pay a median $807 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 Elnora?
For the median home with 20% down at 7.11%, the payment is about $655 a month. Keeping that under 28% of gross income takes about $28,067 a year.
More about Elnora
- Mortgage Refinance in Elnora
- Debt Relief in Elnora
- Home Equity Loans in Elnora
- 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