Calculate your monthly mortgage payment in Ohio. Pre-filled with Ohio's typical home value of $248,800 (Zillow Home Value Index, August 2026) and an effective property tax rate of 1.22% (Census ACS 2024 1-year, median taxes ÷ median home value).
Est. Monthly Payment
$1,685
Principal & Interest
$1,328
Property Tax / mo
$253
Total Interest Paid
$279,123
| Home Price | $248,800 | Typical home value in Ohio — Zillow Home Value Index, August 2026 |
| Down Payment | 20% ($49,760) | Assumption — no sourced state average |
| Loan Amount | $199,040 | Home price minus down payment |
| Interest Rate | 7.03% | Freddie Mac PMMS national average, week of 2026-09-24 — not a Ohio rate |
| Loan Term | 30 years | Assumption |
| Property Tax | 1.22% / year | Ohio effective rate — Census ACS 2024 1-year, median taxes ÷ median home value |
| Home Insurance | 0.5% / year | Assumption — not a sourced premium |
Programs named for Ohio: Ohio Housing Finance Agency Your Choice!, Grants for Grads. This list has no recorded source or date and may be out of date — confirm current programs and eligibility with the Ohio housing finance agency before you rely on it.
Cost of living: Moderate (index 93.0, MERIC (C2ER index), Second Quarter 2026) · Population: 11,900,510 (Census Bureau estimate, July 1, 2025)
Ohio has a typical home value of about $248,800 (Zillow Home Value Index, August 2026), below the U.S. typical value of $368,700. With an assumed 20% down payment of $49,760, a buyer would finance $199,040 over 30 years. At the national 7.03% fixed rate, the monthly principal and interest payment comes to $1,328.
The effective property tax rate in Ohio — median real estate taxes paid divided by median home value — is 1.22% per year (Census ACS 2024 1-year, median taxes ÷ median home value), against 0.89% for the U.S. Combined with an assumed $104 a month for homeowners insurance, the estimated all-in monthly housing cost is about $1,685.
Using the 28% housing cost guideline, you would need a gross annual income of approximately $72,224 to qualify comfortably. The median household income in Ohio is $72,212 (Census ACS 2024 1-year).
