The typical owner-occupied home in Munster is worth about $334,300, 53% above the Indiana median of $218,200 and about the same as the national median of $332,700. Owners pay a median $3,670 a year in property taxes, about 1.10% of their home's value, higher than the Indiana rate of 0.74%. The median household earns $110,187 a year, so the median home costs 3.0 times the median income (3.0 times for Indiana). 87% of occupied homes here are lived in by their owners, and 65% of those owners still have a mortgage.
Munster at a glance
| Munster | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $334,300 | $218,200 | $332,700 |
| Median property tax paid per year | $3,670 | $1,614 | $3,119 |
| Property tax as a share of value | 1.10% | 0.74% | 0.94% |
| Median household income | $110,187 | $71,957 | $80,734 |
| Homes lived in by their owners | 87% | 71% | 65% |
| Owner homes with a mortgage | 65% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,827 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 18.0% | 18.1% | 21.0% |
| Median rent | $1,507 | $1,062 | $1,413 |
| Rent as a share of renters' income | 29.7% | 29.1% | 30.6% |
| Median year homes were built | 1973 | 1976 | 1980 |
| Vacant homes | 3.5% | 8.8% | 10.1% |
| Population | 23,733 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Munster
At this week's average 30-year rate of 7.11%, buying the median Munster home of $334,300 with 20% down costs about $2,245 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,802, 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 $96,207 for the 20%-down payment. That payment is 24% of the median Munster household income of $110,187; at that income and 20% down, the 28% guideline points to a home of about $383,000.
The median rent here is $1,507 a month, so owning the median home costs about $738 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $66,860 |
|---|---|
| Loan amount | $267,440 |
| Principal and interest | $1,799 |
| Property taxes (1.10% a year) | $306 |
| Homeowners insurance (our estimate, 0.5% a year) | $139 |
| PMI | $0 |
| Total per month | $2,245 |
Change the numbers in the calculator
| Down payment | $11,700 |
|---|---|
| Loan amount | $328,245 |
| Principal and interest | $2,208 |
| Property taxes (1.10% a year) | $306 |
| Homeowners insurance (our estimate, 0.5% a year) | $139 |
| FHA mortgage insurance | $148 |
| Total per month | $2,802 |
Change the numbers in the calculator
Questions about home buying in Munster
What is the median home value in Munster?
About $334,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Munster?
Homeowners pay a median $3,670 a year, which is about 1.10% 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 Munster?
For the median home with 20% down at 7.11%, the payment is about $2,245 a month. Keeping that under 28% of gross income takes about $96,207 a year.
More about Munster
- Mortgage Refinance in Munster
- Debt Relief in Munster
- Home Equity Loans in Munster
- 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