Mortgage payment estimates, closing cost breakdowns, and homebuying data for Columbus, Indiana.
Median Home Price
$215K
Population
49K
Avg Monthly Rent
$980
Property Tax Rate
0.84% *
* Property tax shown is the Indiana state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Columbus.
Columbus vs Indiana Median
The median home price in Columbus is $215,000, which is 10% below the Indiana state median of $240,000.
Mortgage Calculator — Columbus, IN
Pre-filled with Columbus median home price and Indiana tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $215K home using Indiana's 0.84% tax rate and $1,700/yr insurance.
5% Down
$1,702/mo
Down: $10,750
Loan: $204K
P&I: $1,291
Tax: $151
Insurance: $142
PMI: $119
10% Down
$1,628/mo
Down: $21,500
Loan: $194K
P&I: $1,223
Tax: $151
Insurance: $142
PMI: $113
20% Down (No PMI)
$1,379/mo
Down: $43,000
Loan: $172K
P&I: $1,087
Tax: $151
Insurance: $142
Income needed (28% rule): $59K/year with 20% down, $70K/year with 10% down.
Rent vs Buy in Columbus
Rent
$980/mo
vs
Buy (10% down)
$1,628/mo
Price-to-rent ratio: 18.3 — A ratio between 15-20 means the rent vs buy decision in Columbus depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Columbus is $215,000, 10% below the Indiana state median of $240,000. With a population of 48,820, Columbus is a smaller market where home prices tend to be more accessible than in many parts of Indiana.
Property taxes in Indiana average 0.84% annually. This moderate property tax rate means a $215,000 home in Columbus would carry roughly $151/month in property taxes. Homeowners insurance in Indiana runs approximately $1,700 per year. This is within the normal range nationally.
Average rent in Columbus is $980/month. The price-to-rent ratio in Columbus is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Columbus offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Indiana's IHCDA Next Home program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Columbus.