Mortgage payment estimates, closing cost breakdowns, and homebuying data for Columbus, Ohio.
Median Home Price
$285K
Population
906K
Avg Monthly Rent
$1,280
Property Tax Rate
1.56% *
* Property tax shown is the Ohio state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Columbus.
Columbus vs Ohio Median
The median home price in Columbus is $285,000, which is 33% above the Ohio state median of $215,000.
Mortgage Calculator — Columbus, OH
Pre-filled with Columbus median home price and Ohio tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $285K home using Ohio's 1.56% tax rate and $1,400/yr insurance.
5% Down
$2,356/mo
Down: $14,250
Loan: $271K
P&I: $1,711
Tax: $371
Insurance: $117
PMI: $158
10% Down
$2,258/mo
Down: $28,500
Loan: $257K
P&I: $1,621
Tax: $371
Insurance: $117
PMI: $150
20% Down (No PMI)
$1,928/mo
Down: $57,000
Loan: $228K
P&I: $1,441
Tax: $371
Insurance: $117
Income needed (28% rule): $83K/year with 20% down, $97K/year with 10% down.
Rent vs Buy in Columbus
Rent
$1,280/mo
vs
Buy (10% down)
$2,258/mo
Price-to-rent ratio: 18.6 — A ratio between 15-20 means the rent vs buy decision in Columbus depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Columbus is $285,000, 33% above the Ohio state median of $215,000. With a population of 905,748, Columbus is a major metro area where home prices reflect strong demand and local economic factors.
Property taxes in Ohio average 1.56% annually. This higher-than-average tax rate means a $285,000 home in Columbus would carry roughly $371/month in property taxes alone — plan accordingly. Homeowners insurance in Ohio runs approximately $1,400 per year. This is within the normal range nationally.
Average rent in Columbus is $1,280/month. The price-to-rent ratio in Columbus is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Columbus presents moderate affordability. The $285K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Columbus.