The typical owner-occupied home in Romney is worth about $161,000, 26% below the Indiana median of $218,200 and 52% below the national median of $332,700. Owners pay a median $802 a year in property taxes, about 0.50% of their home's value, lower than the Indiana rate of 0.74%. The median household earns $63,578 a year, so the median home costs 2.5 times the median income (3.0 times for Indiana). 92% of occupied homes here are lived in by their owners, and 94% of those owners still have a mortgage.
Romney at a glance
| Romney | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $161,000 | $218,200 | $332,700 |
| Median property tax paid per year | $802 | $1,614 | $3,119 |
| Property tax as a share of value | 0.50% | 0.74% | 0.94% |
| Median household income | $63,578 | $71,957 | $80,734 |
| Homes lived in by their owners | 92% | 71% | 65% |
| Owner homes with a mortgage | 94% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $979 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 18.2% | 18.1% | 21.0% |
| Median rent | – | $1,062 | $1,413 |
| Median year homes were built | 1955 | 1976 | 1980 |
| Vacant homes | 21.2% | 8.8% | 10.1% |
| Population | 391 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Romney
At this week's average 30-year rate of 7.11%, buying the median Romney home of $161,000 with 20% down costs about $1,001 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,269, 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 $42,884 for the 20%-down payment. That payment is 19% of the median Romney household income of $63,578; at that income and 20% down, the 28% guideline points to a home of about $239,000.
| Down payment | $32,200 |
|---|---|
| Loan amount | $128,800 |
| Principal and interest | $866 |
| Property taxes (0.50% a year) | $67 |
| Homeowners insurance (our estimate, 0.5% a year) | $67 |
| PMI | $0 |
| Total per month | $1,001 |
Change the numbers in the calculator
| Down payment | $5,635 |
|---|---|
| Loan amount | $158,084 |
| Principal and interest | $1,063 |
| Property taxes (0.50% a year) | $67 |
| Homeowners insurance (our estimate, 0.5% a year) | $67 |
| FHA mortgage insurance | $71 |
| Total per month | $1,269 |
Change the numbers in the calculator
Questions about home buying in Romney
What is the median home value in Romney?
About $161,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Romney?
Homeowners pay a median $802 a year, which is about 0.50% 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 Romney?
For the median home with 20% down at 7.11%, the payment is about $1,001 a month. Keeping that under 28% of gross income takes about $42,884 a year.
More about Romney
- Mortgage Refinance in Romney
- Debt Relief in Romney
- Home Equity Loans in Romney
- 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