The typical owner-occupied home in Lowell is worth about $248,000, 14% above the Indiana median of $218,200 and 25% below the national median of $332,700. Owners pay a median $2,197 a year in property taxes, about 0.89% of their home's value, higher than the Indiana rate of 0.74%. The median household earns $84,024 a year, so the median home costs 3.0 times the median income (3.0 times for Indiana). 84% of occupied homes here are lived in by their owners, and 71% of those owners still have a mortgage.
Lowell at a glance
| Lowell | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $248,000 | $218,200 | $332,700 |
| Median property tax paid per year | $2,197 | $1,614 | $3,119 |
| Property tax as a share of value | 0.89% | 0.74% | 0.94% |
| Median household income | $84,024 | $71,957 | $80,734 |
| Homes lived in by their owners | 84% | 71% | 65% |
| Owner homes with a mortgage | 71% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,578 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 18.7% | 18.1% | 21.0% |
| Median rent | $1,123 | $1,062 | $1,413 |
| Rent as a share of renters' income | 26.4% | 29.1% | 30.6% |
| Median year homes were built | 1990 | 1976 | 1980 |
| Vacant homes | 2.9% | 8.8% | 10.1% |
| Population | 11,073 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Lowell
At this week's average 30-year rate of 7.11%, buying the median Lowell home of $248,000 with 20% down costs about $1,622 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,035, 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 $69,511 for the 20%-down payment. That payment is 23% of the median Lowell household income of $84,024; at that income and 20% down, the 28% guideline points to a home of about $300,000.
The median rent here is $1,123 a month, so owning the median home costs about $499 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $49,600 |
|---|---|
| Loan amount | $198,400 |
| Principal and interest | $1,335 |
| Property taxes (0.89% a year) | $184 |
| Homeowners insurance (our estimate, 0.5% a year) | $103 |
| PMI | $0 |
| Total per month | $1,622 |
Change the numbers in the calculator
| Down payment | $8,680 |
|---|---|
| Loan amount | $243,508 |
| Principal and interest | $1,638 |
| Property taxes (0.89% a year) | $184 |
| Homeowners insurance (our estimate, 0.5% a year) | $103 |
| FHA mortgage insurance | $110 |
| Total per month | $2,035 |
Change the numbers in the calculator
Questions about home buying in Lowell
What is the median home value in Lowell?
About $248,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lowell?
Homeowners pay a median $2,197 a year, which is about 0.89% 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 Lowell?
For the median home with 20% down at 7.11%, the payment is about $1,622 a month. Keeping that under 28% of gross income takes about $69,511 a year.
More about Lowell
- Mortgage Refinance in Lowell
- Debt Relief in Lowell
- Home Equity Loans in Lowell
- 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