The typical owner-occupied home in Scotland is worth about $250,000, 15% above the Indiana median of $218,200 and 25% below the national median of $332,700. The median household earns $130,000 a year, so the median home costs 1.9 times the median income (3.0 times for Indiana). 100% of occupied homes here are lived in by their owners, and 0% of those owners still have a mortgage.
Scotland at a glance
| Scotland | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $250,000 | $218,200 | $332,700 |
| Median property tax paid per year | – | $1,614 | $3,119 |
| Median household income | $130,000 | $71,957 | $80,734 |
| Homes lived in by their owners | 100% | 71% | 65% |
| Owner homes with a mortgage | 0% | 64% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,404 | $1,963 |
| Median rent | – | $1,062 | $1,413 |
| Median year homes were built | 1985 | 1976 | 1980 |
| Vacant homes | 0.0% | 8.8% | 10.1% |
| Population | 53 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Scotland
At this week's average 30-year rate of 7.11%, buying the median Scotland home of $250,000 with 20% down costs about $1,679 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,095, 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 $71,946 for the 20%-down payment. That payment is 15% of the median Scotland household income of $130,000; at that income and 20% down, the 28% guideline points to a home of about $452,000.
| Down payment | $50,000 |
|---|---|
| Loan amount | $200,000 |
| Principal and interest | $1,345 |
| Property taxes (1.10% a year) | $229 |
| Homeowners insurance (our estimate, 0.5% a year) | $104 |
| PMI | $0 |
| Total per month | $1,679 |
Change the numbers in the calculator
| Down payment | $8,750 |
|---|---|
| Loan amount | $245,472 |
| Principal and interest | $1,651 |
| Property taxes (1.10% a year) | $229 |
| Homeowners insurance (our estimate, 0.5% a year) | $104 |
| FHA mortgage insurance | $111 |
| Total per month | $2,095 |
Change the numbers in the calculator
Questions about home buying in Scotland
What is the median home value in Scotland?
About $250,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Scotland?
For the median home with 20% down at 7.11%, the payment is about $1,679 a month. Keeping that under 28% of gross income takes about $71,946 a year.
More about Scotland
- Mortgage Refinance in Scotland
- Debt Relief in Scotland
- Home Equity Loans in Scotland
- 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