The typical owner-occupied home in Marshall is worth about $85,000, 61% below the Indiana median of $218,200 and 74% below the national median of $332,700. Owners pay a median $354 a year in property taxes, about 0.42% of their home's value, lower than the Indiana rate of 0.74%. The median household earns $65,625 a year, so the median home costs 1.3 times the median income (3.0 times for Indiana). 84% of occupied homes here are lived in by their owners, and 45% of those owners still have a mortgage.
Marshall at a glance
| Marshall | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $85,000 | $218,200 | $332,700 |
| Median property tax paid per year | $354 | $1,614 | $3,119 |
| Property tax as a share of value | 0.42% | 0.74% | 0.94% |
| Median household income | $65,625 | $71,957 | $80,734 |
| Homes lived in by their owners | 84% | 71% | 65% |
| Owner homes with a mortgage | 45% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $860 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 14.5% | 18.1% | 21.0% |
| Median rent | $788 | $1,062 | $1,413 |
| Rent as a share of renters' income | 46.3% | 29.1% | 30.6% |
| Median year homes were built | 1938 | 1976 | 1980 |
| Vacant homes | 14.2% | 8.8% | 10.1% |
| Population | 266 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Marshall
At this week's average 30-year rate of 7.11%, buying the median Marshall home of $85,000 with 20% down costs about $523 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $664, 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 $22,398 for the 20%-down payment. That payment is 10% of the median Marshall household income of $65,625; at that income and 20% down, the 28% guideline points to a home of about $249,000.
The median rent here is $788 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $17,000 |
|---|---|
| Loan amount | $68,000 |
| Principal and interest | $457 |
| Property taxes (0.42% a year) | $30 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| PMI | $0 |
| Total per month | $523 |
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| Down payment | $2,975 |
|---|---|
| Loan amount | $83,460 |
| Principal and interest | $561 |
| Property taxes (0.42% a year) | $30 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| FHA mortgage insurance | $38 |
| Total per month | $664 |
Change the numbers in the calculator
Questions about home buying in Marshall
What is the median home value in Marshall?
About $85,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Marshall?
Homeowners pay a median $354 a year, which is about 0.42% 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 Marshall?
For the median home with 20% down at 7.11%, the payment is about $523 a month. Keeping that under 28% of gross income takes about $22,398 a year.
More about Marshall
- Mortgage Refinance in Marshall
- Debt Relief in Marshall
- Home Equity Loans in Marshall
- 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