What are average mortgage rates in Ohio in 2026?

Mortgage rates in Ohio generally track national averages. As of 2026, expect 30-year fixed rates from 5.5% to 7.5% for good credit borrowers. Use CalcDeck's Ohio mortgage calculator to model your payment at current rates.

How much are closing costs in Ohio?

Closing costs in Ohio typically range from 2% to 5% of purchase price, including lender fees, title insurance, and prepaid items. Use CalcDeck's Ohio mortgage calculator to include closing costs in your calculation.

What are property tax rates in Ohio?

Property tax rates in Ohio range from 0.3% to 2.5% of assessed value. CalcDeck's Ohio calculator includes property tax in your PITI payment.

What first-time homebuyer programs exist in Ohio?

Ohio offers down payment assistance, favorable-rate mortgages, and tax credits through state agencies. Use CalcDeck's Ohio calculator to see how programs affect your payment.

How do I use the CalcDeck Ohio mortgage calculator?

Enter home price, down payment, interest rate, and loan term. Adjust property tax and insurance to match Ohio averages. Get instant monthly payment, total interest, and amortization schedule.

Ohio Mortgage Calculator

Median home prices, property taxes, and monthly payment estimates for Ohio homeowners.

Ohio at a Glance

Median Home Price: $208,000
Property Tax Rate: 1.36%
Median Household Income: $64,168
Annual Property Tax: $2,829

Sources: Zillow ZHVI (2024), Tax Foundation (2023), US Census ACS (2023)

Monthly Mortgage Payment in Ohio

Based on the Ohio median home price of $208,000 at 6.7% interest (30-year fixed):

Payment Breakdown	20% Down	5% Down
Loan Amount	$166,400	$197,600
Principal and Interest	$1,074	$1,275
Property Tax (OH)	$236	$236
Homeowners Insurance	$125	$125
PMI	$0	$82
Total Monthly	$1,434	$1,718

How Much House Can You Afford in Ohio?

Using the 28/36 rule (housing costs under 28% of gross income):

With 20% down, you need ~$61,478/year to afford Ohio's median home
With 5% down, you need ~$73,634/year
Ohio's median household income is $64,168

Ohio insight: Ohio's property tax rate of 1.36% is near the national average.

Ohio Housing Market Overview

Ohio's housing market is among the most affordable in the Midwest. The statewide median of $208,000 reflects Cleveland at $185,000, Columbus $285,000, Cincinnati $260,000, and Dayton $180,000. Inventory is at 3.2 months, a balanced market. The median household income of $64,168 yields a price-to-income ratio of 3.2—excellent affordability. The effective property tax rate of 1.36% costs $2,829/year on a median home, though Cuyahoga County (Cleveland) rates are higher due to school levies. Ohio's manufacturing resurgence (Intel, Honda EV plants) is driving demand in Columbus and central Ohio. Cleveland's low prices have attracted investors and first-time buyers alike.

First-Time Homebuyer Programs in Ohio

The Ohio Housing Finance Agency (OHFA) offers the Ohio Heroes program, providing 30-year fixed-rate FHA, VA, USDA, or conventional mortgages with down payment assistance of 2.5% or 5% of the purchase price—capped at $10,400 on a $208,000 home. The Grants for Grads program offers 2.5% or 5% down payment assistance for recent college graduates with qualifying degrees. OHFA also administers the Mortgage Credit Certificate (MCC) program, providing a 40% federal tax credit on mortgage interest—one of the highest MCC rates nationally, capped at $2,000/year. Local programs include Columbus' American Dream Downpayment Initiative ($7,500 grants) and Cleveland's Down Payment Assistance Program ($10,000). Income limits: Franklin County caps at $85,000 for a two-person household; rural counties cap at $72,000.

Tips for Homebuyers in Ohio

1) Ohio's 1.36% property tax means ~$236/month on a median home—reasonable for the Midwest. 2) The Columbus market is booming due to Intel and Honda investments; homes under $300,000 sell in under 14 days. 3) Buy in fall/winter for less competition and 3–5% price reductions. 4) Cleveland's older housing stock (pre-1950) may contain lead paint and outdated wiring—budget for inspections and potential updates. 5) Radon is elevated throughout Ohio; always test and budget $800–$1,200 for mitigation. 6) Basement waterproofing is essential in Ohio's clay soils; include a thorough basement inspection for water intrusion and foundation cracks.

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Ohio Mortgage FAQ

What is the median home price in Ohio?

The median home price in Ohio is approximately $208,000 as of 2024 (Zillow ZHVI). Your actual price will vary by city and neighborhood.

What is the property tax rate in Ohio?

The effective property tax rate in Ohio is approximately 1.36% (Tax Foundation). On a $208,000 home, that is about $2,829/year in property taxes.

How much income do I need to buy a home in Ohio?

Using the 28/36 rule with 20% down at 6.7%, you would need about $61,478/year to afford the median Ohio home at $208,000. With 5% down (including PMI), about $73,634.

What will my monthly mortgage payment be in Ohio?

On Ohio's median home price of $208,000 with 20% down at 6.7%, your total monthly payment (P and I plus tax plus insurance) is approximately $1,434. With 5% down including PMI, about $1,718.

Data sources: Zillow ZHVI typical home values (2024), Tax Foundation effective property tax rates (2023), US Census Bureau ACS median household income (2023). Mortgage rate assumption: 6.7% APR 30-year fixed. This is an estimate — use our calculator for personalized numbers.