CALCMONEY // HOME AFFORDABILITY // OH // CINCINNATI
How much house can you afford in Cincinnati? Based on local median home prices, current OH mortgage rates, and Cincinnati property tax data.
$240,000
$1,691/mo
$72,469/yr
$176,248
Monthly housing costs of $1,691 represent 35.0% of Cincinnati's median gross monthly income ($4,833/mo). At 35.0%, this slightly exceeds the 28% rule. Buyers need above-median income or a 25%+ down payment to qualify comfortably.
| Median Home Price | $240,000 |
| Down Payment (20%) | $48,000 |
| Loan Amount | $192,000 |
| Monthly PI Payment | $1,271 |
| Monthly Property Tax | $320 |
| Monthly Insurance Est. | $100 |
| Total Monthly PITI | $1,691 |
| Housing Cost % of Income | 35.0% |
| Required Income (28% rule) | $72,469/yr |
| Max Affordable Home | $176,248 |
$8,400
$2,117/mo
Cincinnati Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $240,000 | Cincinnati city median |
| Down Payment (20%) | $48,000 | Conventional loan |
| Monthly PITI | $1,691 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $72,469 | Annual gross |
| Max Affordable Home | $176,248 | Based on median income |
| FHA Down (3.5%) | $8,400 | Minimum FHA |
| Housing Cost % of Income | 35.0% | Median income: $58,000/yr |
| Property Tax Rate | 1.6% | $3,840/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Cincinnati is $240,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $192,000, generating a monthly P&I payment of $1,271. Adding property taxes ($320/mo) and homeowners insurance ($100/mo) brings total monthly PITI to $1,691.
Cincinnati's property tax rate of 1.6% is near the national average, adding a standard increment to monthly housing costs. On the Cincinnati median home, that is $320/month, or $3,840 per year.
Ohio levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Cincinnati should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Cincinnati's median income of $58,000/year can afford up to $1,353/month in total housing costs. Based on Cincinnati's mortgage rate of 6.95% and property tax rate of 1.6%, that translates to a maximum affordable home price of approximately $176,248 with 20% down on a 30-year loan.
To afford the median Cincinnati home priced at $240,000, you need an annual gross income of approximately $72,469. Total monthly housing costs (principal and interest of $1,271, property taxes of $320, and insurance of $100) come to $1,691/month, which equals 28% of the required income.
At the median home price of $240,000 and median household income of $58,000, the total monthly housing cost of $1,691 represents 35.0% of gross monthly income. This slightly exceeds the standard 28% rule. Buyers will need above-median income or a larger down payment to stay within guidelines.
A conventional 20% down payment on the median Cincinnati home of $240,000 is $48,000. An FHA loan requires just 3.5% down — $8,400 — but adds mortgage insurance of roughly $164/month, bringing total FHA payments to $2,117/month.