The typical owner-occupied home in Wheeler is worth about $202,300, 7% below the Indiana median of $218,200 and 39% below the national median of $332,700. Owners pay a median $1,340 a year in property taxes, about 0.66% of their home's value, lower than the Indiana rate of 0.74%. 92% of occupied homes here are lived in by their owners, and 38% of those owners still have a mortgage.
Wheeler at a glance
| Wheeler | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $202,300 | $218,200 | $332,700 |
| Median property tax paid per year | $1,340 | $1,614 | $3,119 |
| Property tax as a share of value | 0.66% | 0.74% | 0.94% |
| Median household income | – | $71,957 | $80,734 |
| Homes lived in by their owners | 92% | 71% | 65% |
| Owner homes with a mortgage | 38% | 64% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 26.7% | 18.1% | 21.0% |
| Median rent | – | $1,062 | $1,413 |
| Median year homes were built | 1964 | 1976 | 1980 |
| Vacant homes | 0.0% | 8.8% | 10.1% |
| Population | 283 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Wheeler
At this week's average 30-year rate of 7.11%, buying the median Wheeler home of $202,300 with 20% down costs about $1,284 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,621, 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 $55,040 for the 20%-down payment.
| Down payment | $40,460 |
|---|---|
| Loan amount | $161,840 |
| Principal and interest | $1,089 |
| Property taxes (0.66% a year) | $111 |
| Homeowners insurance (our estimate, 0.5% a year) | $84 |
| PMI | $0 |
| Total per month | $1,284 |
Change the numbers in the calculator
| Down payment | $7,080 |
|---|---|
| Loan amount | $198,636 |
| Principal and interest | $1,336 |
| Property taxes (0.66% a year) | $111 |
| Homeowners insurance (our estimate, 0.5% a year) | $84 |
| FHA mortgage insurance | $89 |
| Total per month | $1,621 |
Change the numbers in the calculator
Questions about home buying in Wheeler
What is the median home value in Wheeler?
About $202,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Wheeler?
Homeowners pay a median $1,340 a year, which is about 0.66% 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 Wheeler?
For the median home with 20% down at 7.11%, the payment is about $1,284 a month. Keeping that under 28% of gross income takes about $55,040 a year.
More about Wheeler
- Mortgage Refinance in Wheeler
- Debt Relief in Wheeler
- Home Equity Loans in Wheeler
- 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