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Mortgage Calculator Ohio — 2026 Payment Estimates
Pre-filled with Ohio's estimated median home price of $225,000 and 1.59% effective property tax rate. Adjust any input for your specific situation. All calculations run in your browser.
Reviewed for accuracy June 2026 by Gary Sing
Median home price
$225,000
Monthly P&I (30yr)
$1,137.72
Property tax/month
$298.13
Est. total PITI/month
$1,520.22
Optional — unlocks affordability analysis
Enter gross income to check affordability
At the 28% front-end guideline, this payment requires ~$48,760/year in gross income. The monthly shown is principal and interest only — add ~$17 for taxes, insurance.
- ›A 15-year term saves $127,341 in total interest but raises the payment by $430/month
- ›Total interest ($229,580) exceeds the loan itself ($180,000) — every extra principal payment saves its full remaining interest
⚡ Total interest ($229,580) exceeds the loan principal — consider extra principal payments or a shorter term
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Ohio mortgage payment scenarios — $225,000 home at 6.5%
Monthly P&I and estimated total PITI (principal, interest, tax, insurance) at three down payment levels. Property tax uses Ohio's 1.59% effective rate; insurance estimated at 0.45% of home value annually.
| Down payment | Down amount | P&I (30yr) | P&I (15yr) | Total PITI (30yr) |
|---|---|---|---|---|
| 10% down | $22,500 | $1,279.94 | $1,763.99 | $1,662.44 |
| 15% down | $33,750 | $1,208.83 | $1,665.99 | $1,591.33 |
| 20% down | $45,000 | $1,137.72 | $1,567.99 | $1,520.22 |
P&I only (30yr and 15yr). PITI adds property tax (1.59%) and estimated homeowners insurance (0.45% annually). Does not include PMI — required when down payment is below 20%.
Property tax and insurance in Ohio
Ohio's effective property tax rate of 1.59% is above the national average. On a $225,000 home, property taxes add approximately $298/month — a meaningful component of the total monthly payment.
Ohio property tax
Effective rate: 1.59%. On a $225,000 home, annual property taxes are approximately $3,578 — or $298.13/month. Many lenders collect this monthly into an escrow account.
Homeowners insurance
Estimated at 0.45% of home value annually — roughly $84.37/month on a $225,000 home. Rates vary by coverage, age of home, and local risk factors. Get quotes from multiple insurers before closing.
PMI (if under 20% down)
Private Mortgage Insurance is required on conventional loans with less than 20% down, typically costing 0.5–1.5% of the loan amount per year. On a $180,000 loan, PMI adds roughly $135.00–$225.00/month.
Income needed
The 28% front-end DTI guideline requires approximately $65,152/year in gross income to qualify for the median Ohio home with 20% down. This is principal, interest, tax, and insurance — not counting other debt.
Ohio housing market 2026
Columbus is Ohio's standout performer — one of the fastest-appreciating major metros in the US since 2019. Cleveland and Cincinnati offer some of the best price-to-income ratios of any US metro. Ohio's diversified economy (healthcare, manufacturing, tech) supports sustained demand.
Key numbers for Ohio buyers
- Median home price: $225,000 (2026 estimate)
- Down payment (20%): $45,000
- Loan amount (80% LTV): $180,000
- Monthly P&I at 6.5% / 30yr: $1,137.72
- Est. PITI (with tax + insurance): $1,520.22/month
- Income needed (28% DTI): $65,152/year
Compare mortgage payments by state
📍 California
Median $750,000 · ~$3,793/mo P&I · 0.73% tax
📍 Texas
Median $315,000 · ~$1,593/mo P&I · 1.6% tax
📍 Florida
Median $405,000 · ~$2,048/mo P&I · 0.89% tax
📍 New York
Median $415,000 · ~$2,099/mo P&I · 1.4% tax
📍 Georgia
Median $325,000 · ~$1,643/mo P&I · 0.83% tax
📍 Arizona
Median $365,000 · ~$1,846/mo P&I · 0.6% tax
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Mortgage calculator Ohio — frequently asked questions
What is the average mortgage payment in Ohio?
Based on Ohio's median home price of $225,000, a 30-year mortgage at 6.5% with 20% down produces a monthly principal and interest payment of $1,137.72. Adding property tax (~$298.13/month at 1.59%) and homeowners insurance (~$84.37/month) gives an estimated total PITI of approximately $1,520.22/month.
What is the median home price in Ohio in 2026?
The estimated median home price in Ohio in 2026 is approximately $225,000. Prices vary significantly by metro area — use this as a benchmark and enter the specific price you are evaluating in the calculator above.
How much income do I need to afford a house in Ohio?
Using the 28% front-end DTI guideline, an estimated total monthly payment (PITI) of $1,520.22 on the median Ohio home requires approximately $65,152/year in gross income. This assumes 20% down, 6.5% rate, 30-year term, and 1.59% property tax.
What are property taxes in Ohio?
Ohio's effective property tax rate is approximately 1.59%. On a $225,000 home, that is roughly $298.13/month or $3,578/year. Ohio's effective property tax rate of 1.59% is above the national average. On a $225,000 home, property taxes add approximately $298/month — a meaningful component of the total monthly payment.
Is a 15-year or 30-year mortgage better in Ohio?
At 6.5% on a $225,000 home with 20% down: the 30-year P&I is $1,137.72/month; the 15-year P&I is $1,567.99/month — $430.27/month more. The 15-year saves $127,341 in total interest. If the higher payment is affordable, the 15-year is almost always the better long-term financial choice.