The typical owner-occupied home in Millersburg is worth about $186,400, 15% below the Indiana median of $218,200 and 44% below the national median of $332,700. Owners pay a median $1,359 a year in property taxes, about 0.73% of their home's value, close to the Indiana rate of 0.74%. The median household earns $65,833 a year, so the median home costs 2.8 times the median income (3.0 times for Indiana). 67% of occupied homes here are lived in by their owners, and 67% of those owners still have a mortgage.
Millersburg at a glance
| Millersburg | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $186,400 | $218,200 | $332,700 |
| Median property tax paid per year | $1,359 | $1,614 | $3,119 |
| Property tax as a share of value | 0.73% | 0.74% | 0.94% |
| Median household income | $65,833 | $71,957 | $80,734 |
| Homes lived in by their owners | 67% | 71% | 65% |
| Owner homes with a mortgage | 67% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,324 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 17.7% | 18.1% | 21.0% |
| Median rent | $1,082 | $1,062 | $1,413 |
| Rent as a share of renters' income | 31.9% | 29.1% | 30.6% |
| Median year homes were built | 1971 | 1976 | 1980 |
| Vacant homes | 2.0% | 8.8% | 10.1% |
| Population | 1,077 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Millersburg
At this week's average 30-year rate of 7.11%, buying the median Millersburg home of $186,400 with 20% down costs about $1,194 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,505, 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 $51,180 for the 20%-down payment. That payment is 22% of the median Millersburg household income of $65,833; at that income and 20% down, the 28% guideline points to a home of about $240,000.
The median rent here is $1,082 a month, so owning the median home costs about $112 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $37,280 |
|---|---|
| Loan amount | $149,120 |
| Principal and interest | $1,003 |
| Property taxes (0.73% a year) | $113 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| PMI | $0 |
| Total per month | $1,194 |
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| Down payment | $6,524 |
|---|---|
| Loan amount | $183,024 |
| Principal and interest | $1,231 |
| Property taxes (0.73% a year) | $113 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| FHA mortgage insurance | $82 |
| Total per month | $1,505 |
Change the numbers in the calculator
Questions about home buying in Millersburg
What is the median home value in Millersburg?
About $186,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Millersburg?
Homeowners pay a median $1,359 a year, which is about 0.73% 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 Millersburg?
For the median home with 20% down at 7.11%, the payment is about $1,194 a month. Keeping that under 28% of gross income takes about $51,180 a year.
More about Millersburg
- Mortgage Refinance in Millersburg
- Debt Relief in Millersburg
- Home Equity Loans in Millersburg
- 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