The typical owner-occupied home in Paragon is worth about $104,100, 52% below the Indiana median of $218,200 and 69% below the national median of $332,700. Owners pay a median $328 a year in property taxes, about 0.32% of their home's value, lower than the Indiana rate of 0.74%. The median household earns $73,750 a year, so the median home costs 1.4 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.
Paragon at a glance
| Paragon | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $104,100 | $218,200 | $332,700 |
| Median property tax paid per year | $328 | $1,614 | $3,119 |
| Property tax as a share of value | 0.32% | 0.74% | 0.94% |
| Median household income | $73,750 | $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 | $879 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 13.9% | 18.1% | 21.0% |
| Median rent | $1,019 | $1,062 | $1,413 |
| Rent as a share of renters' income | 51.0% | 29.1% | 30.6% |
| Median year homes were built | 1951 | 1976 | 1980 |
| Vacant homes | 31.7% | 8.8% | 10.1% |
| Population | 537 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Paragon
At this week's average 30-year rate of 7.11%, buying the median Paragon home of $104,100 with 20% down costs about $631 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $805, 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 $27,059 for the 20%-down payment. That payment is 10% of the median Paragon household income of $73,750; at that income and 20% down, the 28% guideline points to a home of about $284,000.
The median rent here is $1,019 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $20,820 |
|---|---|
| Loan amount | $83,280 |
| Principal and interest | $560 |
| Property taxes (0.32% a year) | $28 |
| Homeowners insurance (our estimate, 0.5% a year) | $43 |
| PMI | $0 |
| Total per month | $631 |
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| Down payment | $3,644 |
|---|---|
| Loan amount | $102,214 |
| Principal and interest | $688 |
| Property taxes (0.32% a year) | $28 |
| Homeowners insurance (our estimate, 0.5% a year) | $43 |
| FHA mortgage insurance | $46 |
| Total per month | $805 |
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Questions about home buying in Paragon
What is the median home value in Paragon?
About $104,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Paragon?
Homeowners pay a median $328 a year, which is about 0.32% 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 Paragon?
For the median home with 20% down at 7.11%, the payment is about $631 a month. Keeping that under 28% of gross income takes about $27,059 a year.
More about Paragon
- Mortgage Refinance in Paragon
- Debt Relief in Paragon
- Home Equity Loans in Paragon
- 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