Mortgage payment estimates, closing cost breakdowns, and homebuying data for Wooster, Ohio.
Median Home Price
$195K
Population
27K
Avg Monthly Rent
$920
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 Wooster.
Wooster vs Ohio Median
The median home price in Wooster is $195,000, which is 9% below the Ohio state median of $215,000.
Mortgage Calculator — Wooster, OH
Pre-filled with Wooster median home price and Ohio tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $195K home using Ohio's 1.56% tax rate and $1,400/yr insurance.
5% Down
$1,649/mo
Down: $9,750
Loan: $185K
P&I: $1,171
Tax: $254
Insurance: $117
PMI: $108
10% Down
$1,582/mo
Down: $19,500
Loan: $176K
P&I: $1,109
Tax: $254
Insurance: $117
PMI: $102
20% Down (No PMI)
$1,356/mo
Down: $39,000
Loan: $156K
P&I: $986
Tax: $254
Insurance: $117
Income needed (28% rule): $58K/year with 20% down, $68K/year with 10% down.
Rent vs Buy in Wooster
Rent
$920/mo
vs
Buy (10% down)
$1,582/mo
Price-to-rent ratio: 17.7 — A ratio between 15-20 means the rent vs buy decision in Wooster 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 Wooster is $195,000, 9% below the Ohio state median of $215,000. With a population of 27,023, Wooster is a smaller market where home prices tend to be more accessible than in many parts of Ohio.
Property taxes in Ohio average 1.56% annually. This higher-than-average tax rate means a $195,000 home in Wooster would carry roughly $254/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 Wooster is $920/month. The price-to-rent ratio in Wooster is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Wooster offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Ohio's OHFA Your Choice! Down Payment Assistance program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Wooster.