Mortgage on a $250K house in Ohio
$1,725 a month with 20% down — $1,345 principal and interest plus $255 property tax and $125 insurance.
Ohio's typical property tax is 1.22% of the home's value a year (U.S. average 0.9%), which adds $255 a month on a $250K home. The typical home in Ohio is worth $245,982, so $250K is right at the typical price.
$250K home in Ohio: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $50,000 | $200,000 | $1,345 | $0 | $380 | $1,725 | $73,900 |
| 10% down | $25,000 | $225,000 | $1,514 | $94 | $380 | $1,987 | $85,200 |
| 5% down | $12,500 | $237,500 | $1,598 | $99 | $380 | $2,076 | $89,000 |
| 3.5% down (FHA) | $8,750 | $245,472 | $1,651 | $111 | $380 | $2,142 | $91,800 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.22% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Ohio does $250K buy a typical home?
In these counties the typical home value is within 15% of $250K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Lake County | $249,918 | 1.62% | $1,809 |
| Logan County | $253,679 | 1% | $1,680 |
| Clinton County | $253,731 | 0.93% | $1,663 |
| Shelby County | $246,250 | 0.95% | $1,669 |
| Fayette County | $244,757 | 0.94% | $1,666 |
| Ashland County | $244,608 | 0.99% | $1,678 |
| Champaign County | $255,719 | 1.02% | $1,683 |
| Auglaize County | $242,461 | 0.96% | $1,671 |
| Wood County | $242,240 | 1.34% | $1,750 |
| Erie County | $240,422 | 1.22% | $1,724 |
| Brown County | $260,279 | 0.82% | $1,640 |
| Lorain County | $260,654 | 1.37% | $1,756 |
59 of 88 Ohio counties tracked by Zillow have a typical home value at or below $250K. See all Ohio home prices.
Other prices in Ohio
Frequently asked questions
What is the mortgage on a $250K house in Ohio?
About $1,725 a month with 20% down at 7.11%: $1,345 principal and interest, $255 property tax and $125 insurance.
How much do I need to make to buy a $250K house in Ohio?
About $73,900 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $250K house in Ohio?
At Ohio's typical effective rate of 1.22%, about $3,057 a year. Rates vary by county and city — see the county pages.