Total monthly cost of ownership
Cost to Own a Home in Chesapeake, Ohio
A $106,000 home here costs
$982per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $545. The real number is $437 higher every month — 80% 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.
Chesapeake against Lawrence County and Ohio
| Measure | Chesapeake | Lawrence County |
|---|---|---|
| Median home value | $106,100 | $135,600 |
| Median property tax | $785 | $1,193 |
| Effective tax rate | 0.740% | 0.880% |
| Median gross rent | $795 | $830 |
| Population | 1,082 | 57,385 |
The weather behind that power bill
Chesapeake sits in Lawrence County, which averages a high of 86.1°F in its hottest month and a low of 20.3°F in its coldest, with 45.69" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 873 cooling and 5,275 heating degree days, which is what sets the $175 electricity line above.
See the full climate breakdown for Lawrence County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lawrence County
Common questions
How much does it cost to own a home in Chesapeake?
A $106,000 home in Chesapeake, Ohio costs approximately $982 per month with 20% down at 6.66%. That is $545 principal and interest, $65 property tax, $39 homeowners insurance, $243 utilities and $88 set aside for maintenance.
What is the property tax rate in Chesapeake?
Chesapeake has an effective property tax rate of 0.740%, based on a median home value of $106,100 and median real estate taxes of $785. That is lower than the Lawrence County average of 0.880%.
What is the average home price in Chesapeake?
The median owner-occupied home value in Chesapeake, Ohio is $106,100, against $135,600 across Lawrence County.
Is it cheaper to rent or buy in Chesapeake?
Median gross rent in Chesapeake is $795 a month, against $982 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 Chesapeake — 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.