The typical owner-occupied home in Universal is worth about $64,300, 71% below the Indiana median of $218,200 and 81% below the national median of $332,700. Owners pay a median $750 a year in property taxes, about 1.17% of their home's value, higher than the Indiana rate of 0.74%. The median household earns $53,750 a year, so the median home costs 1.2 times the median income (3.0 times for Indiana). 81% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Universal at a glance
| Universal | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $64,300 | $218,200 | $332,700 |
| Median property tax paid per year | $750 | $1,614 | $3,119 |
| Property tax as a share of value | 1.17% | 0.74% | 0.94% |
| Median household income | $53,750 | $71,957 | $80,734 |
| Homes lived in by their owners | 81% | 71% | 65% |
| Owner homes with a mortgage | 57% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $617 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 16.3% | 18.1% | 21.0% |
| Median rent | $567 | $1,062 | $1,413 |
| Rent as a share of renters' income | 31.7% | 29.1% | 30.6% |
| Median year homes were built | 1949 | 1976 | 1980 |
| Vacant homes | 14.9% | 8.8% | 10.1% |
| Population | 173 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Universal
At this week's average 30-year rate of 7.11%, buying the median Universal home of $64,300 with 20% down costs about $436 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $543, 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 $18,665 for the 20%-down payment. That payment is 10% of the median Universal household income of $53,750; at that income and 20% down, the 28% guideline points to a home of about $185,000.
The median rent here is $567 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $12,860 |
|---|---|
| Loan amount | $51,440 |
| Principal and interest | $346 |
| Property taxes (1.17% a year) | $63 |
| Homeowners insurance (our estimate, 0.5% a year) | $27 |
| PMI | $0 |
| Total per month | $436 |
Change the numbers in the calculator
| Down payment | $2,250 |
|---|---|
| Loan amount | $63,135 |
| Principal and interest | $425 |
| Property taxes (1.17% a year) | $63 |
| Homeowners insurance (our estimate, 0.5% a year) | $27 |
| FHA mortgage insurance | $28 |
| Total per month | $543 |
Change the numbers in the calculator
Questions about home buying in Universal
What is the median home value in Universal?
About $64,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Universal?
Homeowners pay a median $750 a year, which is about 1.17% 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 Universal?
For the median home with 20% down at 7.11%, the payment is about $436 a month. Keeping that under 28% of gross income takes about $18,665 a year.
More about Universal
- Mortgage Refinance in Universal
- Debt Relief in Universal
- Home Equity Loans in Universal
- 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