Total monthly cost of ownership
Cost to Own a Home in Mineral Ridge, Ohio
A $143,000 home here costs
$1,385per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $59,500 a year.
A standard mortgage calculator would have told you $792. The real number is $593 higher every month, 75% more than the payment most buyers budget for.
Compare Mahoning County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Mineral Ridge from a five-year rolling sample, and with about 4,012 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Mahoning County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Mineral Ridge against Mahoning County and Ohio
| Measure | Mineral Ridge | Mahoning County |
|---|---|---|
| Median home value | $142,900 | $141,100 |
| Median property tax | $2,250 | $1,975 |
| Effective tax rate | 1.575% | 1.400% |
| Median gross rent | $677 | $775 |
| Population | 4,012 | 227,063 |
Mineral Ridge extends across 2 counties. Figures here use Mahoning County, where most of its housing sits.
The weather behind that power bill
Mineral Ridge sits in Mahoning County, which averages a high of 82.7°F in its hottest month and a low of 19.3°F in its coldest, with 41.19" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 633 cooling and 6,089 heating degree days, which is what sets the $165 electricity line above.
See the full climate breakdown for Mahoning County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mahoning County
Talk to someone who works this market
These are Mineral Ridge 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 Mineral Ridge every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Mineral Ridge I already own here and may sell
Common questions
How much does it cost to own a home in Mineral Ridge?
A $143,000 home in Mineral Ridge, Ohio costs approximately $1,385 per month with 20% down at 7.4%. That is $792 principal and interest, $188 property tax, $53 homeowners insurance, $233 utilities and $119 set aside for maintenance.
What is the property tax rate in Mineral Ridge?
Mineral Ridge has an effective property tax rate of 1.575%, based on a median home value of $142,900 and median real estate taxes of $2,250. That is higher than the Mahoning County average of 1.400%.
What is the average home price in Mineral Ridge?
The median owner-occupied home value in Mineral Ridge, Ohio is $142,900, against $141,100 across Mahoning County.
Is it cheaper to rent or buy in Mineral Ridge?
Median gross rent in Mineral Ridge is $677 a month, against $1,385 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 Mineral Ridge?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Mineral Ridge, Ohio at today's rate takes a household income of roughly $59,500 a year. That covers the full $1,385 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Mineral Ridge, 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.