Total monthly cost of ownership
Cost to Own a Home in Cleveland, Ohio
A $94,000 home here costs
$981per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $483. The real number is $498 higher every month — 103% 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.
Cleveland against Cuyahoga County and Ohio
| Measure | Cleveland | Cuyahoga County |
|---|---|---|
| Median home value | $94,100 | $183,200 |
| Median property tax | $1,699 | $3,819 |
| Effective tax rate | 1.806% | 2.085% |
| Median gross rent | $894 | $1,005 |
| Population | 367,523 | 1,249,418 |
The weather behind that power bill
Cleveland sits in Cuyahoga County, which averages a high of 80.7°F in its hottest month and a low of 23.5°F in its coldest, with 33.34" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 925 cooling and 5,513 heating degree days, which is what sets the $175 electricity line above.
See the full climate breakdown for Cuyahoga County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Cuyahoga County
Common questions
How much does it cost to own a home in Cleveland?
A $94,000 home in Cleveland, Ohio costs approximately $981 per month with 20% down at 6.66%. That is $483 principal and interest, $141 property tax, $35 homeowners insurance, $243 utilities and $78 set aside for maintenance.
What is the property tax rate in Cleveland?
Cleveland has an effective property tax rate of 1.806%, based on a median home value of $94,100 and median real estate taxes of $1,699. That is lower than the Cuyahoga County average of 2.085%.
What is the average home price in Cleveland?
The median owner-occupied home value in Cleveland, Ohio is $94,100, against $183,200 across Cuyahoga County.
Is it cheaper to rent or buy in Cleveland?
Median gross rent in Cleveland is $894 a month, against $981 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 Cleveland — 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.