The typical owner-occupied home in Newberry is worth about $81,700, 63% below the Indiana median of $218,200 and 75% below the national median of $332,700. Owners pay a median $674 a year in property taxes, about 0.82% of their home's value, higher than the Indiana rate of 0.74%. The median household earns $50,625 a year, so the median home costs 1.6 times the median income (3.0 times for Indiana). 93% of occupied homes here are lived in by their owners, and 50% of those owners still have a mortgage.
Newberry at a glance
| Newberry | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $81,700 | $218,200 | $332,700 |
| Median property tax paid per year | $674 | $1,614 | $3,119 |
| Property tax as a share of value | 0.82% | 0.74% | 0.94% |
| Median household income | $50,625 | $71,957 | $80,734 |
| Homes lived in by their owners | 93% | 71% | 65% |
| Owner homes with a mortgage | 50% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,021 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 22.8% | 18.1% | 21.0% |
| Median rent | – | $1,062 | $1,413 |
| Median year homes were built | 1944 | 1976 | 1980 |
| Vacant homes | 12.1% | 8.8% | 10.1% |
| Population | 121 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Newberry
At this week's average 30-year rate of 7.11%, buying the median Newberry home of $81,700 with 20% down costs about $530 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $666, 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 $22,695 for the 20%-down payment. That payment is 13% of the median Newberry household income of $50,625; at that income and 20% down, the 28% guideline points to a home of about $182,000.
| Down payment | $16,340 |
|---|---|
| Loan amount | $65,360 |
| Principal and interest | $440 |
| Property taxes (0.82% a year) | $56 |
| Homeowners insurance (our estimate, 0.5% a year) | $34 |
| PMI | $0 |
| Total per month | $530 |
Change the numbers in the calculator
| Down payment | $2,860 |
|---|---|
| Loan amount | $80,220 |
| Principal and interest | $540 |
| Property taxes (0.82% a year) | $56 |
| Homeowners insurance (our estimate, 0.5% a year) | $34 |
| FHA mortgage insurance | $36 |
| Total per month | $666 |
Change the numbers in the calculator
Questions about home buying in Newberry
What is the median home value in Newberry?
About $81,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Newberry?
Homeowners pay a median $674 a year, which is about 0.82% 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 Newberry?
For the median home with 20% down at 7.11%, the payment is about $530 a month. Keeping that under 28% of gross income takes about $22,695 a year.
More about Newberry
- Mortgage Refinance in Newberry
- Debt Relief in Newberry
- Home Equity Loans in Newberry
- 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