Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
Ohio mortgage costs
What a typical Ohio (OH) purchase actually costs each month once property tax, insurance and PMI are included — and how to model your own numbers.
| Median home price | $235,000 |
|---|---|
| 10% down payment | $23,500 |
| Loan amount | $211,500 |
| Principal & interest (30yr @ 6.75%) | $1,372/mo |
| Property tax (1.53%) | $300/mo |
| Homeowners insurance | $125/mo |
| PMI (until 20% equity) | $88/mo |
| Estimated total monthly | $1,885/mo |
Illustrative only, at a 6.75% sample rate with 10% down. Your rate, tax assessment and insurance premium will differ.
What makes Ohio different
Low prices with above-average tax rates; the escrow line, not the rate, decides affordability for most buyers here.
Entry prices are among the country's more forgiving: a median $235,000 is the 9th lowest in the country, $107,500 below the national median, so a 20% deposit is roughly $47,000.
Property tax is the line that shapes a Ohio budget. The 1.53% effective rate is the 10th highest in the country, adding $300 a month on a median $235,000 home — $3,596 a year that never amortises away and rises with assessed value long after the loan is paid off.
At $235,000 to buy against $1,300 a month to rent, the price-to-rent ratio is 15.1 — the 10th lowest in the country, close enough to the middle that the answer turns on your holding period and what a down payment would earn invested instead.
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