The typical owner-occupied home in Winamac is worth about $147,600, 32% below the Indiana median of $218,200 and 56% below the national median of $332,700. Owners pay a median $631 a year in property taxes, about 0.43% of their home's value, lower than the Indiana rate of 0.74%. The median household earns $47,083 a year, so the median home costs 3.1 times the median income (3.0 times for Indiana). 53% of occupied homes here are lived in by their owners, and 58% of those owners still have a mortgage.
Winamac at a glance
| Winamac | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $147,600 | $218,200 | $332,700 |
| Median property tax paid per year | $631 | $1,614 | $3,119 |
| Property tax as a share of value | 0.43% | 0.74% | 0.94% |
| Median household income | $47,083 | $71,957 | $80,734 |
| Homes lived in by their owners | 53% | 71% | 65% |
| Owner homes with a mortgage | 58% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $986 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 17.6% | 18.1% | 21.0% |
| Median rent | $742 | $1,062 | $1,413 |
| Rent as a share of renters' income | 35.1% | 29.1% | 30.6% |
| Median year homes were built | 1956 | 1976 | 1980 |
| Vacant homes | 12.4% | 8.8% | 10.1% |
| Population | 2,473 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Winamac
At this week's average 30-year rate of 7.11%, buying the median Winamac home of $147,600 with 20% down costs about $909 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,155, 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 $38,945 for the 20%-down payment. That payment is 23% of the median Winamac household income of $47,083; at that income and 20% down, the 28% guideline points to a home of about $178,000.
The median rent here is $742 a month, so owning the median home costs about $167 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $29,520 |
|---|---|
| Loan amount | $118,080 |
| Principal and interest | $794 |
| Property taxes (0.43% a year) | $53 |
| Homeowners insurance (our estimate, 0.5% a year) | $62 |
| PMI | $0 |
| Total per month | $909 |
Change the numbers in the calculator
| Down payment | $5,166 |
|---|---|
| Loan amount | $144,927 |
| Principal and interest | $975 |
| Property taxes (0.43% a year) | $53 |
| Homeowners insurance (our estimate, 0.5% a year) | $62 |
| FHA mortgage insurance | $65 |
| Total per month | $1,155 |
Change the numbers in the calculator
Questions about home buying in Winamac
What is the median home value in Winamac?
About $147,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Winamac?
Homeowners pay a median $631 a year, which is about 0.43% 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 Winamac?
For the median home with 20% down at 7.11%, the payment is about $909 a month. Keeping that under 28% of gross income takes about $38,945 a year.
More about Winamac
- Mortgage Refinance in Winamac
- Debt Relief in Winamac
- Home Equity Loans in Winamac
- 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