CALCMONEY // HOME AFFORDABILITY // OH
Find out how much home you can afford in Ohio using local median home prices, current mortgage rates, and OH-specific property tax data.
Open Full Calculator$249,941
$1,686/mo
$249,810
$72,241/yr
| Median Home Price | $249,941 |
| Down Payment (20%) | $49,988 |
| Loan Amount | $199,953 |
| Monthly PI Payment | $1,298 |
| Monthly Property Tax | $283 |
| Monthly Insurance Est. | $104 |
| Total Monthly PITI | $1,686 |
| Required Gross Income (28% rule) | $72,241/yr |
| Max Affordable Price (28% rule) | $249,810 |
$8,748
$2,124/mo
Ohio Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $249,941 | State median |
| Down Payment (20%) | $49,988 | Conventional |
| Monthly PITI (median home) | $1,686 | 6.76% rate |
| Required Income (28% rule) | $72,241 | Annual gross |
| Max Affordable Home | $249,810 | Based on median income |
| FHA Down Payment (3.5%) | $8,748 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Ohio is $249,941, with a current 30-year fixed mortgage rate of 6.76%. A buyer putting 20% down on the median home would carry a loan of $199,953, resulting in a monthly principal and interest payment of $1,298. Once property taxes and insurance are added, total monthly housing costs reach $1,686.
Property taxes in Ohio average 1.36%, near the national average of 1.1%. On the median Ohio home, property taxes add $283/month to total housing costs.
Ohio levies a state income tax of 2.75% flat, which affects take-home pay and therefore what you can realistically budget for housing. Mortgage interest may be deductible on both federal and Ohio state returns — consult a tax professional for your situation.
Using the 28% rule, a household earning Ohio's median income of $72,212/year can afford up to $1,685/month in total housing costs (principal, interest, taxes, and insurance). Based on Ohio's current mortgage rate of 6.76% and property tax rate of 1.36%, that translates to a maximum affordable home price of approximately $249,810 with 20% down on a 30-year loan.
To comfortably afford the median Ohio home priced at $249,941, you need an annual gross income of approximately $72,241. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $1,298, property taxes of $283, and insurance of $104) come to $1,686/month, which should not exceed 28% of your gross monthly income.
Ohio's average property tax rate is 1.36%, which is above the national average of 1.1%. On the median Ohio home of $249,941, that means annual property taxes of $3,399, or $283/month. Because lenders include property taxes in your debt-to-income calculation, Ohio's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median Ohio home of $249,941, that is $8,748. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($49,988 on the median Ohio home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no Ohio-specific minimum down payment requirements beyond federal guidelines.