Total monthly cost of ownership
Cost to Own a Home in Minster, Ohio
A $258,000 home here costs
$2,092per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,326. The real number is $765 higher every month — 58% 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.
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 $175 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
Common questions
How much does it cost to own a home in Minster?
A $258,000 home in Minster, Ohio costs approximately $2,092 per month with 20% down at 6.66%. That is $1,326 principal and interest, $211 property tax, $96 homeowners insurance, $243 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 $2,092 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 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.