Can I Afford a $100K Home in Ohio?
Complete mortgage breakdown for a $100,000 home in Ohio, including monthly payments, property taxes, insurance, and the salary you need to qualify.
Estimated Monthly Payment (20% down)
$770/mo
P&I: $526 + Tax: $128 + Insurance: $117
Monthly Payment by Down Payment
| Down Payment | Amount | Monthly | Income Needed |
|---|---|---|---|
| 3% | $3,000 | $922 | $39,506 |
| 5% | $5,000 | $908 | $38,907 |
| 10% | $10,000 | $873 | $37,410 |
| 20% | $20,000 | $770 | $32,988 |
Monthly Cost Breakdown (Ohio)
Principal & Interest
$526/mo
Property Tax (1.53%)
$128/mo
Homeowners Insurance
$117/mo
Total Interest (30-yr)
$109,195
Affordability Rules of Thumb
28% Rule (Housing)
$32,988/yr
Minimum gross income
36% Rule (All Debt)
$25,657/yr
If no other debt
3Ã Income Rule
$33,333/yr
Conservative target
Buying a $100K Home in Ohio
A $100,000 home in Ohio is at or below the national median home price. With a 20% down payment of $20,000, your estimated monthly payment of $770 is achievable on a salary of $32,988 or more. Ohio's property tax rate of 1.53% is above average, which adds significantly to monthly costs.
These estimates assume a 6.875% 30-year fixed mortgage rate. Use our mortgage calculator for custom scenarios, or check what salary you can afford in Ohio.