Quick facts: Winona lake, IN

Quick Facts

95.3
Cost of Living
below US average
5,106
Population
8.03
Crime Rate per 1000
below US average
$77,305
Median Income
below US average
$359,900
Median House Price
above US average
$1000.0
Average Rent
below US average
5%
Poverty Rate
below US average
2.5%
Unemployment Rate
below US average

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 $77,305.

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Income Needed to Buy

βœ— Stretch
$113k/year
Based on $359,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $113k vs median $77,305
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Income Needed to Rent

βœ“ Affordable
$43k/year
Based on $1000.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($77,305) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Winona lake, IN

Winona Lake is a charming town located in Kosciusko County, Indiana. Known for its picturesque natural beauty, the town is nestled alongside the stunning Winona Lake, which offers various recreational opportunities such as fishing, kayaking, and boating. The local landscape is characterized by lush parks and scenic trails, making it ideal for outdoor enthusiasts. Culturally, Winona Lake has a rich history, originally founded as a religious and educational community in the late 1800s. Today, it is home to numerous historical sites and institutions, including Grace College and Theological Seminary, which contribute to the vibrant community atmosphere. Every summer, the town hosts various events and festivals, fostering a strong sense of community among its residents. In addition to its natural and cultural amenities, Winona Lake boasts a quaint downtown area with a variety of local shops, cafes, and eateries, providing a cozy small-town feel. The combination of natural beauty, community spirit, and historical significance makes Winona Lake a unique and inviting place to live or visit.

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