The typical owner-occupied home in Valparaiso is worth about $267,300, 23% above the Indiana median of $218,200 and 20% below the national median of $332,700. Owners pay a median $2,745 a year in property taxes, about 1.03% of their home's value, higher than the Indiana rate of 0.74%. The median household earns $69,872 a year, so the median home costs 3.8 times the median income (3.0 times for Indiana). 58% of occupied homes here are lived in by their owners, and 66% of those owners still have a mortgage.
Valparaiso at a glance
| Valparaiso | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $267,300 | $218,200 | $332,700 |
| Median property tax paid per year | $2,745 | $1,614 | $3,119 |
| Property tax as a share of value | 1.03% | 0.74% | 0.94% |
| Median household income | $69,872 | $71,957 | $80,734 |
| Homes lived in by their owners | 58% | 71% | 65% |
| Owner homes with a mortgage | 66% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,580 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 19.1% | 18.1% | 21.0% |
| Median rent | $1,224 | $1,062 | $1,413 |
| Rent as a share of renters' income | 32.1% | 29.1% | 30.6% |
| Median year homes were built | 1980 | 1976 | 1980 |
| Vacant homes | 6.1% | 8.8% | 10.1% |
| Population | 34,733 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Valparaiso
At this week's average 30-year rate of 7.11%, buying the median Valparaiso home of $267,300 with 20% down costs about $1,779 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,225, 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 $76,257 for the 20%-down payment. That payment is 31% of the median Valparaiso household income of $69,872; at that income and 20% down, the 28% guideline points to a home of about $245,000.
The median rent here is $1,224 a month, so owning the median home costs about $555 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $53,460 |
|---|---|
| Loan amount | $213,840 |
| Principal and interest | $1,439 |
| Property taxes (1.03% a year) | $229 |
| Homeowners insurance (our estimate, 0.5% a year) | $111 |
| PMI | $0 |
| Total per month | $1,779 |
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| Down payment | $9,356 |
|---|---|
| Loan amount | $262,459 |
| Principal and interest | $1,766 |
| Property taxes (1.03% a year) | $229 |
| Homeowners insurance (our estimate, 0.5% a year) | $111 |
| FHA mortgage insurance | $118 |
| Total per month | $2,225 |
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Questions about home buying in Valparaiso
What is the median home value in Valparaiso?
About $267,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Valparaiso?
Homeowners pay a median $2,745 a year, which is about 1.03% 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 Valparaiso?
For the median home with 20% down at 7.11%, the payment is about $1,779 a month. Keeping that under 28% of gross income takes about $76,257 a year.
More about Valparaiso
- Mortgage Refinance in Valparaiso
- Debt Relief in Valparaiso
- Home Equity Loans in Valparaiso
- 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