Total monthly cost of ownership
Cost to Own a Home in Minster, Ohio
A $258,000 home here costs
$2,160per 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 $92,500 a year.
A standard mortgage calculator would have told you $1,407. The real number is $754 higher every month, 54% more than the payment most buyers budget for.
Compare Shelby County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Minster from a five-year rolling sample, and with about 3,213 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 Shelby 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.
Minster against Shelby County and Ohio
| Measure | Minster | Shelby County |
|---|---|---|
| Median home value | $258,000 | $190,300 |
| Median property tax | $2,530 | $1,919 |
| Effective tax rate | 0.981% | 1.008% |
| Median gross rent | $927 | $904 |
| Population | 3,213 | 48,007 |
Minster extends across 2 counties. Figures here use Shelby County, where most of its housing sits.
The weather behind that power bill
Minster sits in Shelby County, which averages a high of 84.3°F in its hottest month and a low of 17.9°F in its coldest, with 41.65" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 818 cooling and 5,911 heating degree days, which is what sets the $164 electricity line above.
See the full climate breakdown for Shelby County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Shelby County
Talk to someone who works this market
These are Minster 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 Minster every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Minster I already own here and may sell
Common questions
How much does it cost to own a home in Minster?
A $258,000 home in Minster, Ohio costs approximately $2,160 per month with 20% down at 7.24%. That is $1,407 principal and interest, $211 property tax, $96 homeowners insurance, $232 utilities and $215 set aside for maintenance.
What is the property tax rate in Minster?
Minster has an effective property tax rate of 0.981%, based on a median home value of $258,000 and median real estate taxes of $2,530. That is lower than the Shelby County average of 1.008%.
What is the average home price in Minster?
The median owner-occupied home value in Minster, Ohio is $258,000, against $190,300 across Shelby County.
Is it cheaper to rent or buy in Minster?
Median gross rent in Minster is $927 a month, against $2,160 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 Minster?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Minster, Ohio at today's rate takes a household income of roughly $92,500 a year. That covers the full $2,160 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Minster, 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.