Income needed to buy a house in Ohio
A median-priced home in Ohio costs $239,800. With 20% down you'd need about $69,191 a year, within reach of the state's median household income of $72,212. Ohio ranks #10 of 51 for the lowest income needed.
Income needed: $69,191 a year
Defaults: state median home value and property tax (Census ACS 2024), median homeowners insurance paid by owners with a mortgage (Census ACS 2024; quotes vary by home and ZIP code), 30-year rate 6.95% (Freddie Mac, week of 2026-09-17).
You'd need a household income of about $69,191 a year to buy a $239,800 home in Ohio with $47,960 down.
Based on lenders' 28/36 rule: housing costs under 28% of gross income, all debt under 36%.
| Monthly cost | Amount |
|---|---|
| Principal & interest | $1,270 |
| Property tax | $245 |
| Homeowners insurance | $100 |
| Total | $1,614 |
Monthly cost by down payment
| Down payment | Cash down | Monthly cost | Income needed |
|---|---|---|---|
| 5% | $11,990 | $1,947 | $83,464 |
| 10% | $23,980 | $1,863 | $79,848 |
| 20% | $47,960 | $1,614 | $69,191 |
Under 20% down includes estimated private mortgage insurance of 0.5% of the loan per year.
Buying in Ohio: what's different
- Transfer tax
- 0.1% state + county fee
- On the median home
- $240
- Homestead break
- 2.5% owner-occupancy credit
- First-time buyer help
- Ohio Housing Finance Agency
- Transfer and recording taxes. The real property conveyance fee is 1 mill ($1 per $1,000, or 0.1%) to the state, and counties can add up to 3 mills more. On the median Ohio home ($239,800), that's about $240 in state conveyance fee.
- Property tax breaks for your home. Owner-occupied homes get a 2.5% reduction on qualifying levies, with no age or income test; apply with the county auditor. The separate homestead exemption for seniors and disabled owners with income up to $41,000 shields $29,700 of value for tax year 2026.
- First-time buyer help. The Ohio Housing Finance Agency offers the Down Payment Assistance program through participating lenders (3% or 3.5% of the price, forgiven after seven years). Check its site for income and price limits.
Checked against official sources on September 25, 2026. Local transfer taxes and exemptions vary, so confirm with the county before you close.
Home prices in the Ohio metro areas we cover
| Metro area | Income needed | Median home value | Median household income |
|---|---|---|---|
| Columbus, OH | $95,184 | $334,800 | $82,938 |
| Cleveland, OH | $70,245 | $234,700 | $72,532 |
| Cincinnati, OH | $81,425 | $288,700 | $81,489 |
| Dayton, OH | $67,617 | $228,600 | $72,711 |
| Akron, OH | $69,842 | $237,300 | $71,364 |
| Toledo, OH | $58,459 | $194,700 | $66,095 |
With 20% down, the median home takes about $58,459 a year in the Toledo area and $95,184 in the Columbus area, compared with $69,191 for the statewide median.
Metro medians from Census ACS 2024 cover the whole metro area, including any part in a neighboring state. Income needed: 20% down at 6.95%, the metro's median property tax and its main state's median homeowners insurance for homes with a mortgage (Census ACS 2024), under the 28% rule.
What makes owning in Ohio less expensive than most states
- Home prices: the median value of $239,800 is 33% below the U.S. median of $360,600.
- Property tax: about 1.22% of value a year ($245 a month on the median home).
- Insurance: owners with a mortgage paid a median $1,198 a year for homeowners insurance in 2024 (Census ACS). Premiums have risen in most states since then, and they vary a lot by home and ZIP code, so get quotes.
- Mortgage rate: each 1-point rise in rates adds roughly $131 a month on this loan.
2 states need at least 20% less income to buy their median home. States with a similar income requirement:
Frequently asked questions
How much do you need to make to buy a house in Ohio?
About $69,191 a year for the median home of $239,800 with 20% down at 6.95%. With 10% down it's about $79,848.
What is the property tax rate in Ohio?
The median Ohio homeowner pays $2,937 a year, about 1.22% of the median home value (Census ACS 2024). Rates vary by county and city.
Is it cheaper to rent or buy in Ohio?
Median rent is $1,090 a month, while owning the median home costs about $1,614 a month with 20% down, before maintenance. Renting affordably takes about $43,600 a year under the 30% rule.