Total monthly cost of ownership
Cost to Own a Home in Columbus, Ohio
A $235,000 home here costs
$1,999per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,208. The real number is $791 higher every month — 65% 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.
Columbus against Franklin County and Ohio
| Measure | Columbus | Franklin County |
|---|---|---|
| Median home value | $234,500 | $265,700 |
| Median property tax | $3,165 | $4,110 |
| Effective tax rate | 1.350% | 1.547% |
| Median gross rent | $1,224 | $1,233 |
| Population | 906,480 | 1,321,635 |
Columbus extends across 3 counties. Figures here use Franklin County, where most of its housing sits.
The weather behind that power bill
Columbus sits in Franklin County, which averages a high of 85.4°F in its hottest month and a low of 22.0°F in its coldest, with 41.57" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,068 cooling and 5,233 heating degree days, which is what sets the $175 electricity line above.
See the full climate breakdown for Franklin County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Franklin County
Common questions
How much does it cost to own a home in Columbus?
A $235,000 home in Columbus, Ohio costs approximately $1,999 per month with 20% down at 6.66%. That is $1,208 principal and interest, $264 property tax, $87 homeowners insurance, $243 utilities and $196 set aside for maintenance.
What is the property tax rate in Columbus?
Columbus has an effective property tax rate of 1.350%, based on a median home value of $234,500 and median real estate taxes of $3,165. That is lower than the Franklin County average of 1.547%.
What is the average home price in Columbus?
The median owner-occupied home value in Columbus, Ohio is $234,500, against $265,700 across Franklin County.
Is it cheaper to rent or buy in Columbus?
Median gross rent in Columbus is $1,224 a month, against $1,999 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 Columbus — 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.