Ohio Mortgage Calculator

Calculate your monthly mortgage payment in Ohio. Pre-filled with Ohio's average property tax rate of 1.36%. See principal, interest, PMI, property taxes, and insurance.

$70,000

Monthly Payment Breakdown

Principal & Interest
$1,770
Property Tax
$397
Homeowner's Insurance
$100
Total Monthly Payment
$2,266

Loan Summary

Home Price
$350,000
Down Payment
$70,000
Loan Amount
$280,000
Total Interest
$357,125
Total Cost(P&I + down payment)
$707,124

See how this mortgage fits your financial plan

Your estimated payment is $2,266/month. See how it fits alongside your income, savings, investments, and other expenses over time.

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Ohio Housing Overview

Ohio has an average property tax rate of 1.36%. Ohio's cost of living is about 9% below the national average, with affordable housing throughout the state.

Property Tax: 1.36%Progressive rates up to 3.5%City-level income taxesThree major metro areas

Buying a Home in Ohio

If you're considering buying a home in Ohio, understanding the local housing market and costs is essential. Property taxes, insurance rates, and home prices vary significantly by area within the state. This calculator pre-fills Ohio's average property tax rate of 1.36% to give you a more accurate estimate.

Ohio Property Taxes

Ohio has an average effective property tax rate of 1.36%. Property taxes are a significant component of your monthly housing cost — on a $350,000 home, a 1.36% rate means approximately $4760 per year, or $397 per month in property taxes alone.

Cost of Living in Ohio

Ohio's cost of living is about 9% below the national average, with affordable housing throughout the state. When evaluating whether to buy a home in Ohio, consider how your mortgage payment plus other housing costs fit within the recommended 28% of gross income guideline.

Financial Tips for Ohio Homebuyers

  • Ohio's top rate of 3.5% is very competitive for a progressive tax state
  • Many Ohio cities levy local income taxes (1-2.5%) — check your city's rate
  • Columbus, Cleveland, and Cincinnati each offer distinct job markets and costs of living
  • Ohio does not tax Social Security benefits

Key Ohio Features

  • Progressive rates up to 3.5%
  • City-level income taxes
  • Three major metro areas
  • No tax on Social Security

See How Your Ohio Mortgage Fits Your Financial Plan

This calculator shows your Ohio mortgage payment. Trajectoryy's full simulator shows how that payment fits alongside your income, taxes, savings, investments, and more.

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Compare Ohio Mortgage Costs with Other States

Michigan1.54% property taxIndiana0.85% property taxKentucky0.83% property taxCalifornia0.71% property taxNew York1.46% property taxTexas1.80% property tax

Frequently Asked Questions

What is the average property tax rate in Ohio?
The average effective property tax rate in Ohio is approximately 1.36%. This rate is applied to the assessed value of your property, which may differ from the market value depending on Ohio's assessment practices. Property tax rates can also vary significantly by county and municipality within the state.
How much does a typical mortgage payment cost in Ohio?
Your mortgage payment in Ohio depends on the home price, your down payment, interest rate, and loan term. With Ohio's average property tax rate of 1.36%, property taxes add a meaningful amount to your monthly payment. Use the calculator above with your specific numbers to get an accurate estimate.
Is Ohio an affordable state to buy a home?
Ohio's cost of living is about 9% below the national average, with affordable housing throughout the state. When evaluating affordability in Ohio, consider not just the home price but also property taxes (1.36% average), homeowner's insurance costs, and any HOA fees common in your area.
How do Ohio property taxes compare to other states?
Ohio's average property tax rate of 1.36% can be compared against the national average of roughly 1.1%. States like New Jersey (2.23%) and Illinois (1.97%) have among the highest rates, while Hawaii (0.28%) and Alabama (0.40%) have among the lowest.
What first-time homebuyer programs are available in Ohio?
Most states, including Ohio, offer first-time homebuyer programs through their state housing finance agency. These typically include down payment assistance, below-market interest rates, and closing cost grants. Check with Ohio's housing authority and the FHA, VA, and USDA loan programs for additional options.

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