What is the average monthly mortgage payment in Ohio?

Home prices across the United States have been increasing rapidly in recent years, and Ohio is no exception.

Higher prices naturally require buyers to take out larger mortgages with a larger monthly payment.  Learn more about what a typical mortgage payment looks like in Ohio, what factors influence housing costs cost, and where you might find a home that fits your budget in the Buckeye State.

How much is the average mortgage payment in Ohio?

The average monthly mortgage payment for homeowners in Ohio is $1,783. This is based on the average home purchase price for a fixed 30-year loan at an interest rate of 6.68%. That’s up from $1,614 in 2024 and $1,506 in 2023, making for a 18.4% increase from 2023 to 2025.

The cost of your mortgage payment could be more or less. For example, if you buy a very expensive home or live in an area with high property taxes, you may have a higher payment. Some people, such as those eligible for first-time buyer benefits or specialized programs such as VA loans, may have lower payments.

What affects mortgage payments in Ohio?

Mortgage payments are composed of multiple pieces. You have to pay for the principal and interest of your loan, plus other costs like property taxes, homeowners insurance and mortgage insurance. Here is how some of those factors influence the cost of housing in Ohio.

Home prices

The price of your home is one of the biggest factors in how much you pay for your mortgage each month. Assuming a 30-year loan and no interest, every $10,000 you add to your mortgage increases your monthly payment by $27.78.

Put another way, a $200,000 mortgage at 0% interest would cost $556 per month. Adding another $100,000 to the loan would make the payment $865. Adding interest further increases the cost, with the same loan amounts costing $1,199 and $1,799 per month at 6% interest.

Interest rates

The interest rate of your mortgage is another of the biggest factors influencing how much you pay each month. The higher the rate, the more interest accrues each month.

Rates depend on many factors, including your financial situation, your credit score, and the type of loan that you’re using to buy a home.

For example, a 30-year, $200,000 mortgage would cost $1,199.10 at 6% interest but $1,330.60 per month at 7% interest, an increase of more than $47,300 over the life of the loan.

As of Aug. 26, Rocket Mortgage® offers an interest rate on a 30-year fixed-rate conventional loan in Ohio of 6.75% with an APR of 7.021%.

Taxes and insurance

Taxes and insurance are the last two components of your mortgage payment, and determining how much home you can afford. They can have an impact on the cost of your loan, but usually are not as much as the principal or interest portion of your payment.

The average property tax payment in Ohio is $2,145.03 per year, a bit less than $180 per month. However, that amount can vary significantly based on where you live. For example, residents of Delaware County paid a median of $6,896 while those in Adams County paid just $1,303.

Homeowners insurance in Ohio is usually a bit cheaper than the national average, costing $1,548 a year compared to the average of $2,532.

Regional differences

Where you live will affect everything from how much you pay for insurance and property taxes to the cost of a typical home. That means location will significantly affect your mortgage payment.

In general, more urban areas have higher housing prices and taxes than rural areas, which leads to higher mortgage payments. For example, the average mortgage payment in Franklin County, which includes the capital city of Columbus, is $1,850, while the average payment in rural Vinton county is $1,009.

Overview of the Ohio housing market

The housing market in Ohio is hot, with prices rising more quickly than the national average. Homes in in-demand metro areas tend to move quickly. In fact, five Ohio housing markets, including Toledo, Akron, and Dayton, ranked among the top 20 markets in the nation.

Much of the demand is spurred by a growing population drawn to industry hubs such as the growth of the tech industry in Columbus or health care in Cleveland. Ohio experienced significant net migration between 2014 and 2024, with Columbus alone seeing a population increase of more than 126,000 during that time.

Average monthly mortgage payments by county

This is the average mortgage payment in 2025 for the top ten most populous counties in Ohio.

Tips for managing mortgage costs in Ohio

Homeownership is expensive, and it can feel out of reach, but there are things you can do to help control the costs. Use these tips to try to reduce the cost of your monthly mortgage payment.

Explore different loan types

There are many different mortgage programs out there, each with unique eligibility requirements, down payment amounts, rates, fees, and insurance rules.

For example, FHA loans offer low down payment requirements and easier qualification requirements than conventional loans. VA loans are only available to military members and veterans, but have no down payment requirement and may have lower interest rates.

Look at the various mortgage programs that are out there and see if there’s one that you qualify for that may help you lower your mortgage payment.

Shop around for rates

When you’re applying for a mortgage, make sure to compare offers from at least three to five lenders. Each lender will give you a different quote when it comes to the amount you can borrow and, most importantly, the interest rate you’ll pay.

Even a small difference of 0.25% or 0.5% in your interest rate can save you tens of thousands of dollars over the life of your mortgage. Consider getting pre-approved with Rocket Mortgage to get personalized loan options you can use to start comparison shopping.

Budget for total housing costs

The cost of homeownership is more than just the principal and interest of your loan or property taxes. When coming up with your budget, don’t forget to include things like home maintenance and repairs, utility costs, HOA fees, and the like.

Planning ahead can help spare you from a nasty financial surprise down the road.

Ohio-specific mortgage resources for home buyers

There are some programs specific to Ohio that may help you afford a home.

The Ohio Housing Finance Agency offers a number of homebuyer assistance options. For example, OHFA loans are available to homebuyers who purchase homes in specific areas, are first-time buyers, or are veterans and come with lower-than-average interest rates.

Check with local and state organizations to see if there are programs that you’re eligible for that could help you afford homeownership.

FAQ

Homeownership is expensive, but that doesn’t mean that it’s out of reach. If you’re thinking about buying a home in Ohio, it’s important to understand how you can keep your costs affordable.

How much do you need to make to afford a home in Ohio?

How much you need to make to afford a home in Ohio depends on many factors, including where you want to buy your home, how much it costs, and the interest rate of your loan, which in turn is influenced by things like your down payment and credit score. Before you start shopping, use Rocket Mortgage’s affordability calculator to get an idea of how much home you can afford.

Do mortgage payments differ by county in Ohio?

Mortgage payments can vary significantly based on where you live, so yes, payments will differ from county to county in Ohio. For example, homeowners in Franklin County pay an average of $1,850, while those in Warren County pay $1,561.

The bottom line: Your Ohio mortgage costs will depend on many factors

Ohio is a relatively affordable state if you’re looking to buy a home, but the market is hot and prices are expected to rise. It’s also important to remember that costs can vary significantly based on region and your financial situation. Think about where you want to live and take the time to consider local costs such as property taxes and average home prices.

If you’re ready to explore your borrowing options for buying a home in Ohio, start your application online with Rocket Mortgage today.