CALCMONEY // HOME AFFORDABILITY // IN // FISHERS
How much house can you afford in Fishers? Based on local median home prices, current IN mortgage rates, and Fishers property tax data.
$349,000
$1,987/mo
$85,144/yr
$402,390
Monthly housing costs of $1,987 represent 24.5% of Fishers's median gross monthly income ($8,100/mo). At 24.5%, Fishers falls within the standard 28% affordability threshold at current median income levels.
| Median Home Price | $349,000 |
| Down Payment (20%) | $69,800 |
| Loan Amount | $279,200 |
| Monthly PI Payment | $1,839 |
| Monthly Property Tax | $2 |
| Monthly Insurance Est. | $145 |
| Total Monthly PITI | $1,987 |
| Housing Cost % of Income | 24.5% |
| Required Income (28% rule) | $85,144/yr |
| Max Affordable Home | $402,390 |
$12,215
$2,605/mo
Fishers Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $349,000 | Fishers city median |
| Down Payment (20%) | $69,800 | Conventional loan |
| Monthly PITI | $1,987 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $85,144 | Annual gross |
| Max Affordable Home | $402,390 | Based on median income |
| FHA Down (3.5%) | $12,215 | Minimum FHA |
| Housing Cost % of Income | 24.5% | Median income: $97,200/yr |
| Property Tax Rate | 0.0085% | $30/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Fishers is $349,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $279,200, generating a monthly P&I payment of $1,839. Adding property taxes ($2/mo) and homeowners insurance ($145/mo) brings total monthly PITI to $1,987.
Fishers's property tax rate of 0.0085% is among the lower rates in the country, which improves overall affordability by keeping total PITI closer to the principal and interest payment alone. On the Fishers median home, that is $2/month, or $30 per year.
Indiana levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Fishers should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Fishers's median income of $97,200/year can afford up to $2,268/month in total housing costs. Based on Fishers's mortgage rate of 6.9% and property tax rate of 0.0085%, that translates to a maximum affordable home price of approximately $402,390 with 20% down on a 30-year loan.
To afford the median Fishers home priced at $349,000, you need an annual gross income of approximately $85,144. Total monthly housing costs (principal and interest of $1,839, property taxes of $2, and insurance of $145) come to $1,987/month, which equals 28% of the required income.
At the median home price of $349,000 and median household income of $97,200, the total monthly housing cost of $1,987 represents 24.5% of gross monthly income. This is within the standard 28% guideline, making Fishers relatively accessible at current income levels.
A conventional 20% down payment on the median Fishers home of $349,000 is $69,800. An FHA loan requires just 3.5% down — $12,215 — but adds mortgage insurance of roughly $239/month, bringing total FHA payments to $2,605/month.
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