Quick facts: Falmouth, IN

Quick Facts

95.3
Cost of Living
below US average
3,883
Population
Crime rate Data is updating, will be available soon
$57,333
Median Income
below US average
$409,000
Median House Price
above US average
$1317
Average Rent
below US average
Poverty rate Data is updating, will be available soon
Unemployment Data is updating, will be available soon

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $57,333.

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Income Needed to Buy

βœ— Stretch
$128k/year
Based on $409,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $128k vs median $57,333
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Income Needed to Rent

βœ“ Affordable
$56k/year
Based on $1317/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($57,333) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Falmouth, IN

Falmouth is a small, unincorporated community located in the southeastern part of Indiana, specifically within the boundaries of Henry County. This quaint locale is characterized by its rural charm and a close-knit community atmosphere. The area is primarily residential with a mix of agricultural surroundings, making it a peaceful place for those who enjoy a slower pace of life. Falmouth is conveniently situated near larger towns, offering residents access to basic amenities and services. The nearest significant city is New Castle, which is about a 15-minute drive away and provides additional shopping, dining, and entertainment options. Nature enthusiasts will appreciate the scenic landscapes and outdoor activities that the surrounding countryside offers, including parks, trails, and opportunities for hiking and biking. The community embraces a sense of tradition, often hosting local events and gatherings that enhance strong community ties. Overall, Falmouth, IN, offers a serene and friendly environment, ideal for those looking to escape the hustle and bustle of larger urban areas while still being accessible to city conveniences.

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