Mortgage payment estimates, closing cost breakdowns, and homebuying data for Muncie, Indiana.
Median Home Price
$135K
Population
65K
Avg Monthly Rent
$780
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 Muncie.
Muncie vs Indiana Median
The median home price in Muncie is $135,000, which is 44% below the Indiana state median of $240,000.
Mortgage Calculator — Muncie, IN
Pre-filled with Muncie median home price and Indiana tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $135K home using Indiana's 0.84% tax rate and $1,700/yr insurance.
5% Down
$1,122/mo
Down: $6,750
Loan: $128K
P&I: $811
Tax: $95
Insurance: $142
PMI: $75
10% Down
$1,075/mo
Down: $13,500
Loan: $122K
P&I: $768
Tax: $95
Insurance: $142
PMI: $71
20% Down (No PMI)
$919/mo
Down: $27,000
Loan: $108K
P&I: $683
Tax: $95
Insurance: $142
Income needed (28% rule): $39K/year with 20% down, $46K/year with 10% down.
Rent vs Buy in Muncie
Rent
$780/mo
vs
Buy (10% down)
$1,075/mo
Price-to-rent ratio: 14.4 — With a ratio under 15, buying in Muncie is likely more cost-effective than renting if you plan to stay 3+ years. The monthly cost of buying is $295 more than renting, but you build equity with every payment.
The median home price in Muncie is $135,000, 44% below the Indiana state median of $240,000. With a population of 65,194, Muncie 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 $135,000 home in Muncie would carry roughly $95/month in property taxes. Homeowners insurance in Indiana runs approximately $1,700 per year. This is within the normal range nationally.
Average rent in Muncie is $780/month. With a price-to-rent ratio under 15, buying may be more cost-effective than renting in Muncie over the long term.
Muncie 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 Muncie.