Side-by-side comparison of home prices, mortgage payments, and housing costs between Anderson and Terre Haute, Indiana. Using Indiana's 0.84% property tax rate and $1,700/year insurance. Updated for 2026.
Metric
Anderson
Terre Haute
Median Home Price
$125K
$125K
Population
54,476
58,389
Average Rent
$720/mo
$720/mo
Est. Monthly Mortgage (P&I)
$711/mo
$711/mo
Est. Monthly Property Tax
$88/mo
$88/mo
Est. Monthly Insurance
$142/mo
$142/mo
Est. Total PITI
$987/mo
$987/mo
Price-to-Rent Ratio
14.5
14.5
Verdict
Anderson and Terre Haute are nearly identical in monthly housing costs, with only $0/month separating them. Your choice should come down to lifestyle, commute, and neighborhood preferences rather than cost.
Monthly Payment Comparison
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI. Uses Indiana's 0.84% property tax rate.
Anderson
Home Price$125,000
Down Payment (10%)$12,500
Loan Amount$112,500
Monthly P&I$711
Monthly Property Tax$88
Monthly Insurance$142
Monthly PMI$47
Total PITI$987/mo
Annual property tax: $1,050
Terre Haute
Home Price$125,000
Down Payment (10%)$12,500
Loan Amount$112,500
Monthly P&I$711
Monthly Property Tax$88
Monthly Insurance$142
Monthly PMI$47
Total PITI$987/mo
Annual property tax: $1,050
Which City Is Better For...
First-Time Buyers
Terre Haute is the better choice for first-time buyers, with a median price of $125K versus $125K in Anderson. That's $0 less to save for a down payment. You'd need roughly $4K for an FHA 3.5% down payment in Terre Haute, compared to $4K in Anderson. Indiana offers the IHCDA Next Home program (Up to 6% DPA) which applies in both cities.
Real Estate Investment
Terre Haute has the better price-to-rent ratio at 14.5x versus 14.5x in Anderson. A lower ratio generally signals better rental income relative to purchase price. Average rent in Terre Haute is $720/month on a $125K median home, making it a stronger candidate for buy-and-rent investors.
Families
Terre Haute (pop. 58,389) offers more amenities, schools, and services typical of a larger city, while Anderson (pop. 54,476) may offer a quieter, more community-oriented lifestyle. Terre Haute offers both more options and lower housing costs, making it attractive for families who want urban amenities without a premium price.