The typical owner-occupied home in Lynn is worth about $83,900, 62% below the Indiana median of $218,200 and 75% below the national median of $332,700. Owners pay a median $740 a year in property taxes, about 0.88% of their home's value, higher than the Indiana rate of 0.74%. The median household earns $38,438 a year, so the median home costs 2.2 times the median income (3.0 times for Indiana). 72% of occupied homes here are lived in by their owners, and 40% of those owners still have a mortgage.
Lynn at a glance
| Lynn | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $83,900 | $218,200 | $332,700 |
| Median property tax paid per year | $740 | $1,614 | $3,119 |
| Property tax as a share of value | 0.88% | 0.74% | 0.94% |
| Median household income | $38,438 | $71,957 | $80,734 |
| Homes lived in by their owners | 72% | 71% | 65% |
| Owner homes with a mortgage | 40% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $797 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 17.1% | 18.1% | 21.0% |
| Median rent | $661 | $1,062 | $1,413 |
| Rent as a share of renters' income | 44.2% | 29.1% | 30.6% |
| Median year homes were built | 1946 | 1976 | 1980 |
| Vacant homes | 8.7% | 8.8% | 10.1% |
| Population | 943 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Lynn
At this week's average 30-year rate of 7.11%, buying the median Lynn home of $83,900 with 20% down costs about $548 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $688, 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 $23,486 for the 20%-down payment. That payment is 17% of the median Lynn household income of $38,438; at that income and 20% down, the 28% guideline points to a home of about $137,000.
The median rent here is $661 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $16,780 |
|---|---|
| Loan amount | $67,120 |
| Principal and interest | $452 |
| Property taxes (0.88% a year) | $62 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| PMI | $0 |
| Total per month | $548 |
Change the numbers in the calculator
| Down payment | $2,936 |
|---|---|
| Loan amount | $82,380 |
| Principal and interest | $554 |
| Property taxes (0.88% a year) | $62 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| FHA mortgage insurance | $37 |
| Total per month | $688 |
Change the numbers in the calculator
Questions about home buying in Lynn
What is the median home value in Lynn?
About $83,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lynn?
Homeowners pay a median $740 a year, which is about 0.88% 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 Lynn?
For the median home with 20% down at 7.11%, the payment is about $548 a month. Keeping that under 28% of gross income takes about $23,486 a year.
More about Lynn
- Mortgage Refinance in Lynn
- Debt Relief in Lynn
- Home Equity Loans in Lynn
- 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