Estimated Monthly Payment — Median Ohio Home
$1,772
Based on $235,000 home · 20% down · 6.7% APR · 30-year fixed · taxes & insurance included
Median Price
$235,000
Property Tax
1.59%
Avg. HOA
$150/mo
Median Rent
$1,050/mo
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Estimate only. Not a loan offer, approval, pre-approval, or financial advice. Actual payments and terms may vary. Consult a licensed mortgage professional before making real estate decisions.
Market Insights
About the Ohio housing market
Ohio's housing market is well below the national average, with a median home price around $235,000. Columbus is the largest metro, with Cleveland a close second. Ohio's diverse metros — Columbus, Cleveland, Cincinnati — offer affordable home prices, though property tax rates run above the national average. Ohio's effective property tax rate of 1.59% is above the national average.
The median Ohio home costs $235,000. At today's average 30-year fixed rate (6.7%) with 20% down, principal & interest works out to roughly $1,213, and the total monthly payment including taxes, insurance, and average HOA comes to approximately $1,772. First-time buyers in Ohio can explore programs through Ohio HFA.
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FAQ
Ohio mortgage FAQs
What's the property tax rate in Ohio?
Ohio's effective property tax rate averages about 1.59% — above the national average. On a $235,000 home, that's roughly $311/month or $3,736/year.
How much do I need to earn to afford a typical Ohio home?
Using the 28/36 rule, a buyer would need roughly $66,000–$85,000 in gross annual income to comfortably afford Ohio's $235,000 median home with 20% down at current rates.
What first-time buyer programs are available in Ohio?
OHFA offers the OHFA Your Choice DPA Grant of up to 2.5%-5% of loan amount and Mortgage Tax Credit certificates worth up to 40% of mortgage interest paid. Eligibility typically requires being a first-time buyer with income within program limits and completing homebuyer education.
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