The typical owner-occupied home in Salamonia is worth about $83,800, 62% below the Indiana median of $218,200 and 75% below the national median of $332,700. The median household earns $44,464 a year, so the median home costs 1.9 times the median income (3.0 times for Indiana). 69% of occupied homes here are lived in by their owners, and 42% of those owners still have a mortgage.
Salamonia at a glance
| Salamonia | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $83,800 | $218,200 | $332,700 |
| Median property tax paid per year | – | $1,614 | $3,119 |
| Median household income | $44,464 | $71,957 | $80,734 |
| Homes lived in by their owners | 69% | 71% | 65% |
| Owner homes with a mortgage | 42% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,102 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 17.5% | 18.1% | 21.0% |
| Median rent | $1,286 | $1,062 | $1,413 |
| Rent as a share of renters' income | 40.8% | 29.1% | 30.6% |
| Median year homes were built | 1970 | 1976 | 1980 |
| Vacant homes | 5.6% | 8.8% | 10.1% |
| Population | 218 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Salamonia
At this week's average 30-year rate of 7.11%, buying the median Salamonia home of $83,800 with 20% down costs about $563 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $702, 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 $24,116 for the 20%-down payment. That payment is 15% of the median Salamonia household income of $44,464; at that income and 20% down, the 28% guideline points to a home of about $155,000.
The median rent here is $1,286 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $16,760 |
|---|---|
| Loan amount | $67,040 |
| Principal and interest | $451 |
| Property taxes (1.10% a year) | $77 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| PMI | $0 |
| Total per month | $563 |
Change the numbers in the calculator
| Down payment | $2,933 |
|---|---|
| Loan amount | $82,282 |
| Principal and interest | $554 |
| Property taxes (1.10% a year) | $77 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| FHA mortgage insurance | $37 |
| Total per month | $702 |
Change the numbers in the calculator
Questions about home buying in Salamonia
What is the median home value in Salamonia?
About $83,800 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 Salamonia?
For the median home with 20% down at 7.11%, the payment is about $563 a month. Keeping that under 28% of gross income takes about $24,116 a year.
More about Salamonia
- Mortgage Refinance in Salamonia
- Debt Relief in Salamonia
- Home Equity Loans in Salamonia
- 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