The calculator is pre-filled for a $239,800 home (the Ohio median, ranked 42nd of 51) with 20% down at 7.40%. That comes to $1,665.09 a month: $1,328.26 principal and interest, $243.83 tax, $93.00 insurance. With 5% down and PMI it is $2,009.06.
Homestead exemptions and property tax relief
The Homestead Exemption is means-tested. For tax year 2026 it shields $29,700 of market value for owners who are 65 or older or permanently disabled with 2025 income of $41,000 or less, and $59,400 with no income limit for disabled veterans. The application is due to the county auditor by December 31 of the year you apply for. Every owner-occupant can also claim the owner-occupancy (2.5%) reduction on eligible levies by applying to the county auditor.
First-time buyer programs
The Ohio Housing Finance Agency's Grants for Grads program gives recent graduates (within 18 months) buying their first home a discounted rate plus 3% down payment help on conventional loans or 3.5% on FHA, VA and USDA loans. The help is forgiven after five years if they stay in Ohio. OHFA's other buyer loans, including First-Time Homebuyer, Next Home and Ohio Heroes, need a 640 credit score for conventional, VA and USDA loans and 650 for FHA.
Transfer and recording taxes
Ohio charges a conveyance fee instead of a transfer tax: a mandatory $1 per $1,000 plus a county option of up to $3 per $1,000. At the maximum $4 per $1,000 that is about $959 on a $239,800 home, and by custom the seller pays it.
Closing costs to plan for
With no buyer-side transfer tax, buyer costs are mostly lender and title charges plus prorated taxes. Ohio taxes are paid in arrears, so expect a seller credit for the tax owed through the closing date.
When property tax bills are due
Ohio real property tax is paid in arrears in two halves billed by the county treasurer, usually due in winter and in summer. A buyer pays taxes for part of the year before closing, so the seller credits that amount at settlement.
Before you buy in Ohio
Apply for the owner-occupancy reduction with the county auditor using Form DTE 105C. You must own and live in the home as your principal residence on January 1, and you file by the first Monday in June for that tax year. Seniors, disabled homeowners and some veterans may also qualify for the income-limited homestead exemption through the same office.
2026 loan limit in Ohio
FHFA 2026 one-unit conforming limits: all 88 counties use the $832,750 baseline. A median-home loan of $191,840 is conforming.
Ohio numbers used above
| Measure | Ohio | U.S. |
|---|---|---|
| Median home value (ACS 2024) | $239,800 | $360,600 |
| Effective property tax rate | 1.22% (12th highest) | 0.89% |
| Average HO-3 premium (NAIC 2023) | $1,116 | $1,737 |
| Median household income | $72,212 | $81,604 |
| Median gross rent | $1,090 | $1,487 |
| Income needed at 28% (20% down) | $71,361 | – |
Frequently asked questions
Can a younger buyer get Ohio's homestead exemption?
No. It is limited to owners 65 and older, disabled owners and certain surviving spouses. All owner-occupants get the 2.5% reduction.
What is the median-home payment in Ohio?
About $1,665.09 a month on a $239,800 home with 20% down at 7.40%, including tax and insurance.
What income do lenders want for that?
Roughly $71,361 a year under the 28% rule, or $86,103 with 5% down and PMI.
How does Ohio insurance compare?
The 2023 average HO-3 premium was $1,116, below the $1,737 U.S. average.
Sources
- Ohio Department of Taxation, homestead means testing
- Ohio Revised Code ch. 322
- OHFA Grants for Grads
- OHFA homeownership resources (credit minimums)
- Ohio Department of Taxation, DTE 105C
- FHFA, 2026 conforming loan limits
- Census ACS 2024 1-year (B25077, B25103, B19013, B25064); NAIC homeowners report (2023); Freddie Mac PMMS.
See also: all states · house affordability · Ohio paycheck