The typical owner-occupied home in Oaktown is worth about $65,200, 70% below the Indiana median of $218,200 and 80% below the national median of $332,700. Owners pay a median $280 a year in property taxes, about 0.43% of their home's value, lower than the Indiana rate of 0.74%. The median household earns $38,333 a year, so the median home costs 1.7 times the median income (3.0 times for Indiana). 59% of occupied homes here are lived in by their owners, and 40% of those owners still have a mortgage.
Oaktown at a glance
| Oaktown | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $65,200 | $218,200 | $332,700 |
| Median property tax paid per year | $280 | $1,614 | $3,119 |
| Property tax as a share of value | 0.43% | 0.74% | 0.94% |
| Median household income | $38,333 | $71,957 | $80,734 |
| Homes lived in by their owners | 59% | 71% | 65% |
| Owner homes with a mortgage | 40% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,039 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 14.0% | 18.1% | 21.0% |
| Median rent | $697 | $1,062 | $1,413 |
| Rent as a share of renters' income | 31.5% | 29.1% | 30.6% |
| Median year homes were built | 1973 | 1976 | 1980 |
| Vacant homes | 6.1% | 8.8% | 10.1% |
| Population | 860 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Oaktown
At this week's average 30-year rate of 7.11%, buying the median Oaktown home of $65,200 with 20% down costs about $401 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $510, 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 $17,203 for the 20%-down payment. That payment is 13% of the median Oaktown household income of $38,333; at that income and 20% down, the 28% guideline points to a home of about $145,000.
The median rent here is $697 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $13,040 |
|---|---|
| Loan amount | $52,160 |
| Principal and interest | $351 |
| Property taxes (0.43% a year) | $23 |
| Homeowners insurance (our estimate, 0.5% a year) | $27 |
| PMI | $0 |
| Total per month | $401 |
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| Down payment | $2,282 |
|---|---|
| Loan amount | $64,019 |
| Principal and interest | $431 |
| Property taxes (0.43% a year) | $23 |
| Homeowners insurance (our estimate, 0.5% a year) | $27 |
| FHA mortgage insurance | $29 |
| Total per month | $510 |
Change the numbers in the calculator
Questions about home buying in Oaktown
What is the median home value in Oaktown?
About $65,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Oaktown?
Homeowners pay a median $280 a year, which is about 0.43% 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 Oaktown?
For the median home with 20% down at 7.11%, the payment is about $401 a month. Keeping that under 28% of gross income takes about $17,203 a year.
More about Oaktown
- Mortgage Refinance in Oaktown
- Debt Relief in Oaktown
- Home Equity Loans in Oaktown
- 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