MonitorBankRates
☰
New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Monterey, IN Housing Affordability Index

Monterey, Indiana has an MBR Housing Affordability Index score of 210.3 (Highly Affordable) as of October 30, 2026, ranking 98th most affordable of 621 scored Indiana cities, compared with 123.6 statewide and 97.4 nationally. On a median-priced $82,500 home with 20% down, the Indiana average 30-year fixed rate of 7.41% means a monthly principal and interest payment of about $457, or 14% of the city’s $39,149 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Monterey is updated every night from live Indiana mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Monterey MBR-HAI 210.3 Highly Affordable
Rank in Indiana 98 of 621 1 = most affordable
Indiana 123.6 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.41% Indiana lenders
Median home value $82,500 U.S. Census Bureau

Monterey is 86.7 points above the Indiana score. Scores as of October 30, 2026. See the Indiana index

View Monterey Mortgage Rates

What It Takes to Buy in Monterey

$457/mo
Principal & Interest
Median home, 20% down, 7.41%
$19,600
Income Needed
To keep the payment at 28% of income
$39,149
Median Household Income
Indiana: $71,957
2.1x
Price-to-Income Ratio
Indiana: 3.0x
$541/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$667/yr
Median Property Tax
0.81% of median value
28.6%
Owner Cost Burden
Owners spending 30%+ of income on housing
5.5%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Monterey, Indiana. The rate is the Indiana average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Monterey Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Monterey, Indiana score: 210.3 (Highly Affordable), ranked 98 of 621 Indiana cities. monitorbankrates.com/housing-affordability-index/indiana/monterey”