The typical owner-occupied home in Economy is worth about $56,100, 74% below the Indiana median of $218,200 and 83% below the national median of $332,700. Owners pay a median $444 a year in property taxes, about 0.79% of their home's value, higher than the Indiana rate of 0.74%. The median household earns $42,212 a year, so the median home costs 1.3 times the median income (3.0 times for Indiana). 89% of occupied homes here are lived in by their owners, and 24% of those owners still have a mortgage.
Economy at a glance
| Economy | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $56,100 | $218,200 | $332,700 |
| Median property tax paid per year | $444 | $1,614 | $3,119 |
| Property tax as a share of value | 0.79% | 0.74% | 0.94% |
| Median household income | $42,212 | $71,957 | $80,734 |
| Homes lived in by their owners | 89% | 71% | 65% |
| Owner homes with a mortgage | 24% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $900 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 15.6% | 18.1% | 21.0% |
| Median rent | $708 | $1,062 | $1,413 |
| Rent as a share of renters' income | 17.5% | 29.1% | 30.6% |
| Median year homes were built | 1938 | 1976 | 1980 |
| Vacant homes | 19.1% | 8.8% | 10.1% |
| Population | 144 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Economy
At this week's average 30-year rate of 7.11%, buying the median Economy home of $56,100 with 20% down costs about $362 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $456, 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 $15,524 for the 20%-down payment. That payment is 10% of the median Economy household income of $42,212; at that income and 20% down, the 28% guideline points to a home of about $153,000.
The median rent here is $708 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $11,220 |
|---|---|
| Loan amount | $44,880 |
| Principal and interest | $302 |
| Property taxes (0.79% a year) | $37 |
| Homeowners insurance (our estimate, 0.5% a year) | $23 |
| PMI | $0 |
| Total per month | $362 |
Change the numbers in the calculator
| Down payment | $1,964 |
|---|---|
| Loan amount | $55,084 |
| Principal and interest | $371 |
| Property taxes (0.79% a year) | $37 |
| Homeowners insurance (our estimate, 0.5% a year) | $23 |
| FHA mortgage insurance | $25 |
| Total per month | $456 |
Change the numbers in the calculator
Questions about home buying in Economy
What is the median home value in Economy?
About $56,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Economy?
Homeowners pay a median $444 a year, which is about 0.79% 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 Economy?
For the median home with 20% down at 7.11%, the payment is about $362 a month. Keeping that under 28% of gross income takes about $15,524 a year.
More about Economy
- Mortgage Refinance in Economy
- Debt Relief in Economy
- Home Equity Loans in Economy
- 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