Total monthly cost of ownership
Cost to Own a Home in Avon Lake, Ohio
A $337,000 home here costs
$2,806per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,733. The real number is $1,073 higher every month — 62% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Avon Lake against Lorain County and Ohio
| Measure | Avon Lake | Lorain County |
|---|---|---|
| Median home value | $337,200 | $207,200 |
| Median property tax | $5,086 | $2,992 |
| Effective tax rate | 1.508% | 1.444% |
| Median gross rent | $1,500 | $916 |
| Population | 25,456 | 314,588 |
The weather behind that power bill
Avon Lake sits in Lorain County, which averages a high of 82.3°F in its hottest month and a low of 19.8°F in its coldest, with 36.72" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 690 cooling and 6,045 heating degree days, which is what sets the $175 electricity line above.
See the full climate breakdown for Lorain County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lorain County
Common questions
How much does it cost to own a home in Avon Lake?
A $337,000 home in Avon Lake, Ohio costs approximately $2,806 per month with 20% down at 6.66%. That is $1,733 principal and interest, $423 property tax, $125 homeowners insurance, $243 utilities and $281 set aside for maintenance.
What is the property tax rate in Avon Lake?
Avon Lake has an effective property tax rate of 1.508%, based on a median home value of $337,200 and median real estate taxes of $5,086. That is higher than the Lorain County average of 1.444%.
What is the average home price in Avon Lake?
The median owner-occupied home value in Avon Lake, Ohio is $337,200, against $207,200 across Lorain County.
Is it cheaper to rent or buy in Avon Lake?
Median gross rent in Avon Lake is $1,500 a month, against $2,806 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Avon Lake — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Ohio.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.