Total monthly cost of ownership
Cost to Own a Home in Granville, Ohio
A $491,000 home here costs
$4,154per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $178,000 a year.
A standard mortgage calculator would have told you $2,677. The real number is $1,477 higher every month, 55% more than the payment most buyers budget for.
Compare Licking County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Granville against Licking County and Ohio
| Measure | Granville | Licking County |
|---|---|---|
| Median home value | $490,500 | $250,700 |
| Median property tax | $7,828 | $3,150 |
| Effective tax rate | 1.596% | 1.256% |
| Median gross rent | $1,103 | $999 |
| Population | 5,916 | 180,311 |
The weather behind that power bill
Granville sits in Licking County, which averages a high of 86.0°F in its hottest month and a low of 21.2°F in its coldest, with 38.77" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 961 cooling and 5,231 heating degree days, which is what sets the $164 electricity line above.
See the full climate breakdown for Licking County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Licking County
Talk to someone who works this market
These are Granville averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Granville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Granville I already own here and may sell
Common questions
How much does it cost to own a home in Granville?
A $491,000 home in Granville, Ohio costs approximately $4,154 per month with 20% down at 7.24%. That is $2,677 principal and interest, $653 property tax, $182 homeowners insurance, $232 utilities and $409 set aside for maintenance.
What is the property tax rate in Granville?
Granville has an effective property tax rate of 1.596%, based on a median home value of $490,500 and median real estate taxes of $7,828. That is higher than the Licking County average of 1.256%.
What is the average home price in Granville?
The median owner-occupied home value in Granville, Ohio is $490,500, against $250,700 across Licking County.
Is it cheaper to rent or buy in Granville?
Median gross rent in Granville is $1,103 a month, against $4,154 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Granville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Granville, Ohio at today's rate takes a household income of roughly $178,000 a year. That covers the full $4,154 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Granville, 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.