CALCMONEY // HOME AFFORDABILITY // OH // COLUMBUS
How much house can you afford in Columbus? Based on local median home prices, current OH mortgage rates, and Columbus property tax data.
$265,000
$1,922/mo
$82,384/yr
$179,591
Monthly housing costs of $1,922 represent 36.6% of Columbus's median gross monthly income ($5,250/mo). At 36.6%, median-income buyers in Columbus are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $265,000 |
| Down Payment (20%) | $53,000 |
| Loan Amount | $212,000 |
| Monthly PI Payment | $1,403 |
| Monthly Property Tax | $409 |
| Monthly Insurance Est. | $110 |
| Total Monthly PITI | $1,922 |
| Housing Cost % of Income | 36.6% |
| Required Income (28% rule) | $82,384/yr |
| Max Affordable Home | $179,591 |
$9,275
$2,393/mo
Columbus Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $265,000 | Columbus city median |
| Down Payment (20%) | $53,000 | Conventional loan |
| Monthly PITI | $1,922 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $82,384 | Annual gross |
| Max Affordable Home | $179,591 | Based on median income |
| FHA Down (3.5%) | $9,275 | Minimum FHA |
| Housing Cost % of Income | 36.6% | Median income: $63,000/yr |
| Property Tax Rate | 1.85% | $4,903/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Columbus is $265,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $212,000, generating a monthly P&I payment of $1,403. Adding property taxes ($409/mo) and homeowners insurance ($110/mo) brings total monthly PITI to $1,922.
Columbus's property tax rate of 1.85% is near the national average, adding a standard increment to monthly housing costs. On the Columbus median home, that is $409/month, or $4,903 per year.
Ohio levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Columbus 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 Columbus's median income of $63,000/year can afford up to $1,470/month in total housing costs. Based on Columbus's mortgage rate of 6.95% and property tax rate of 1.85%, that translates to a maximum affordable home price of approximately $179,591 with 20% down on a 30-year loan.
To afford the median Columbus home priced at $265,000, you need an annual gross income of approximately $82,384. Total monthly housing costs (principal and interest of $1,403, property taxes of $409, and insurance of $110) come to $1,922/month, which equals 28% of the required income.
At the median home price of $265,000 and median household income of $63,000, the total monthly housing cost of $1,922 represents 36.6% of gross monthly income. This is well above the standard 28% threshold, making Columbus a challenging market for buyers at median income.
A conventional 20% down payment on the median Columbus home of $265,000 is $53,000. An FHA loan requires just 3.5% down — $9,275 — but adds mortgage insurance of roughly $181/month, bringing total FHA payments to $2,393/month.