Union County, IN
Rent vs Own in Union County, Indiana
In Union County the ownership stack ($1,021/mo) sits only modestly above HUD's $956/mo 2-bedroom rent, a thin premium, not a blowout. Small assumption changes in the calculator can flip the verdict. Owner-occupied homes: 2,347.
HUD's 2-bedroom rent is $956/mo - only a thin step below the $1,021/mo ownership stack. That is a $65/mo difference.
Based on 20% down, 6.5% rate, 30-year mortgage. Adjust below.
What This Data Tells Us About Renting vs Owning in Union County
Primary driver
Income supports the median purchase price
Median household income is $76,424, and the 2.3x home-price-to-income ratio leaves room for the ownership stack (property tax alone is 1.5% of median income). The monthly gap above is more about mortgage rate and insurance assumptions than about the purchase price being out of reach.
Decision signal 2
HUD moved the rent benchmark down
HUD cut its 2-bedroom Fair Market Rent for Union County from $1,026/mo in FY2025 to $956/mo in FY2026: it decreased by $70/mo (-6.8%). A falling benchmark narrows the case for buying here, and it usually reflects HUD re-estimating the local market rather than existing rents being cut.
Decision signal 3
The county sits near the state middle
Using the assumptions above, Union County ranks 55 of 92 Indiana counties for buy-vs-rent value (rank 1 = the best relative deal for buying). It sits ahead of 37 other Indiana counties on this measure.
Decision signal 4
Renting wins, but only by a thin premium
At $173,500 for the median home and $1,116/yr in tax (0.64%), Union County's ownership stack (~$1,021/mo) only narrowly exceeds the $956/mo HUD 2-bedroom rent - a $65/mo premium. That is the band where a rate drop or a larger down payment most often flips the cash-flow verdict.
Methodology & disclaimer
This calculator is for informational purposes only and is not tax, legal, or financial advice. Property tax figures come from the U.S. Census Bureau ACS 5-Year Estimates and rent figures come from HUD Fair Market Rents; both describe area medians, not individual transactions. Insurance is estimated at 0.35% of home value annually and closing costs, maintenance, HOA, and PMI are not included. Consult a licensed mortgage, tax, or real-estate professional before making a buy-or-rent decision based on these numbers.
Monthly Cost Breakdown
Adjust Your Scenario
Affordability Context
Who actually pays it here
Most Union County households that own outright land between $800 and $1,499 a year, at the national middle, so the tax neither argues for renting nor against it and the decision turns on price and mobility instead.
Union County matches the national pattern: six-figure earners between $100,000 and $200,000 account for more of these write-offs than any other local group.
Layered on a thin rent-vs-own premium, that annual bill is often the swing factor: a paid-off owner still faces a real yearly charge even when the mortgage payment itself would have looked competitive.
Bill bands are Census ACS counts of owner-occupied homes without a mortgage. Income brackets are IRS Statistics of Income county data for tax year 2022, counted over FILERS reporting real-estate taxes on Schedule A, which is a smaller group than homeowners: most filers take the standard deduction.
Nearby Counties
Frequently Asked Questions
What is the average rent in Union County? ▼
Is it cheaper to rent or buy in Union County, Indiana? ▼
How much house can you afford in Union County? ▼
What is the median home price in Union County? ▼
Is rent going up or down in Union County? ▼
How does Union County compare to other Indiana counties for renting vs buying? ▼
Read our methodology - how this data is sourced, computed, and verified.
Source: U.S. Census Bureau, Government Finances State and local property tax revenue by jurisdiction · 2025