Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Colorado and Ohio. Updated for 2026.
Ohio wins 3 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $215K and lower overall costs, Ohio offers meaningful savings compared to Colorado. Both states offer first-time buyer programs — explore the state pages for full details.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI.
Buying in Ohio saves you approximately $1,941/month ($23,292/year) compared to Colorado, based on median home prices with identical loan terms.
There's a dramatic price gap between these two states. Homes in Ohio cost 59% less than in Colorado — that's a difference of $305K on the median home. For buyers relocating from Colorado to Ohio, this can mean upgrading significantly or pocketing substantial savings. The equity you've built in a Colorado home could fund a much larger down payment in Ohio, potentially eliminating PMI and reducing your monthly payment dramatically.
Property taxes are dramatically different: Colorado charges 0.51% while Ohio charges 1.56%, a gap of 1.05 percentage points. On the respective median homes, this means Ohio homeowners pay roughly $3,354 per year in property taxes versus $2,652 in Colorado. Over 30 years of homeownership, this difference alone can add up to six figures. Retirees on fixed incomes should weigh this heavily.
Homeowners insurance is significantly cheaper in Ohio ($1,400/year) compared to Colorado ($3,200/year). That's an extra $1,800 per year — or $150/month — eating into your budget in Colorado. Colorado's high insurance costs are often driven by severe weather risks (hurricanes, tornadoes, or wildfires), which also affect availability of coverage.
Closing costs are a one-time but significant expense. Colorado averages $7K in closing costs (1.4% of purchase price) while Ohio averages $3K (1.4%). The difference is spread across title insurance, attorney fees, and recording costs rather than a single large tax. Budget for these upfront costs — they affect how much cash you need on hand at closing.
Both states offer down payment assistance for first-time buyers. Colorado's CHFA Down Payment Assistance provides Up to $25,000 second mortgage, while Ohio's OHFA Your Choice! Down Payment Assistance offers 2.5% or 5% of purchase price. These programs can significantly reduce your upfront costs and make homeownership accessible even if you haven't saved a full 20% down payment. Check eligibility requirements on each state's housing finance agency website — income limits and purchase price caps apply.
The bottom line: Ohio homes cost $305K less than Colorado on average. That translates to roughly $1,941 less per month in total housing costs if you choose Ohio. For most buyers, this price gap is the single biggest factor — it affects your loan size, monthly payment, and how quickly you build equity.