Total monthly cost of ownership
Cost to Own a Home in Grafton, Ohio
A $199,000 home here costs
$1,720per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,023. The real number is $697 higher every month — 68% 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.
Grafton against Lorain County and Ohio
| Measure | Grafton | Lorain County |
|---|---|---|
| Median home value | $198,500 | $207,200 |
| Median property tax | $2,563 | $2,992 |
| Effective tax rate | 1.291% | 1.444% |
| Median gross rent | $1,048 | $916 |
| Population | 5,665 | 314,588 |
The weather behind that power bill
Grafton 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 Grafton?
A $199,000 home in Grafton, Ohio costs approximately $1,720 per month with 20% down at 6.66%. That is $1,023 principal and interest, $214 property tax, $74 homeowners insurance, $243 utilities and $166 set aside for maintenance.
What is the property tax rate in Grafton?
Grafton has an effective property tax rate of 1.291%, based on a median home value of $198,500 and median real estate taxes of $2,563. That is lower than the Lorain County average of 1.444%.
What is the average home price in Grafton?
The median owner-occupied home value in Grafton, Ohio is $198,500, against $207,200 across Lorain County.
Is it cheaper to rent or buy in Grafton?
Median gross rent in Grafton is $1,048 a month, against $1,720 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 Grafton — 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.