How Much House Can You Afford in Ohio?

Ohio property tax rate: 1.53%. Calculate your maximum affordable home price with Ohio-specific rates.

You can afford a home up to

$255,268

That's a 2-bedroom home

Based on your $75,000 income with 20% down

$255K

Your $255,268 budget buys

Minneapolis2-bedroom condo/townhomeChicago2-bedroom condoNew York CityStudio in Upper Manhattan/BronxMiamiStudio apartmentDenver1-bedroom condoSalt Lake City2-bedroom condo/townhomePortland1-bedroom condoAustin1-bedroom condoNashville1-bedroom condoPhoenix2-bedroom condo/townhomeRaleigh2-bedroom apartment/condoCharlotte2-bedroom condo/townhomeTampa2-bedroom condo/townhomeSan FranciscoNothing yetLos AngelesNothing yetSeattleNothing yet
28%Recommended
$
%
%

Monthly payment breakdown

$1,750/mo

P&I$1,325
Tax$325
Insurance$100
Calculate your mortgage payment on $255,268Should you rent or buy at this price?

Home price

$255,268

Down payment

$51,054

Loan amount

$204,215

No PMI

Waived (20%+ down)

This is an estimate using Ohio's average property tax rate of 1.53%. Actual rates vary by county. Consult a local lender for a pre-approval.

How it works

This calculator uses the 28/36 rule — a widely used guideline for mortgage affordability. Your total housing costs (mortgage, taxes, insurance, PMI, HOA) should not exceed your chosen DTI ratio of gross monthly income.

The calculator works backwards from your income to find the maximum home price that keeps monthly costs within your DTI limit. It uses the standard amortization formula and Ohio's average property tax rate of 1.53%.

Ohio housing quick facts

Average property tax rate 1.53%
Monthly property tax on $400K home $510
Affordable home at $100K income (28% DTI) $345,515
Monthly payment at $100K income $2,333/mo

FAQ

How much house can I afford in Ohio?

On a $100,000 income with 20% down at 6.75% interest and Ohio's 1.53% property tax rate, you can afford approximately $345,515 using the recommended 28% DTI ratio. Your monthly payment would be about $2,333.

What is the property tax rate in Ohio?

The average effective property tax rate in Ohio is 1.53%. On a $400,000 home, that's approximately $510/month in property taxes. Actual rates vary by county and municipality.

Is Ohio expensive for homebuyers?

Ohio has above-average property taxes at 1.53%, which reduces how much house you can afford. On a $100,000 income, you can afford about $345,515 — less than states with lower property taxes.

What is the 28/36 rule?

The 28/36 rule says your total housing costs should not exceed 28% of gross monthly income (front-end DTI), and total debt payments should not exceed 36% (back-end DTI). This calculator lets you adjust the DTI ratio from 20% to 40% to find your comfort level.

What is included in the monthly payment for a Ohio home?

The monthly payment combines four components — principal, interest, taxes, and insurance — known as PITI. For Ohio, that means principal and interest on the mortgage, 1.53% property tax (about $510/month on a $400,000 home), homeowners insurance, and PMI if you put less than 20% down. HOA fees can be added if your property has them.

How much should I save for a down payment in Ohio?

A 20% conventional down payment avoids private mortgage insurance (PMI) — for the example $100,000 income affording about $345,515 in Ohio, that's roughly $69,103. FHA loans allow as little as 3.5% down for qualified buyers but require ongoing mortgage insurance. VA loans and some first-time-buyer programs may allow 0% down.

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