Total monthly cost of ownership
Cost to Own a Home in Mount Gilead, Ohio
A $156,000 home here costs
$1,356per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $802. The real number is $554 higher every month — 69% 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.
Mount Gilead against Morrow County and Ohio
| Measure | Mount Gilead | Morrow County |
|---|---|---|
| Median home value | $156,200 | $200,800 |
| Median property tax | $1,475 | $2,208 |
| Effective tax rate | 0.944% | 1.100% |
| Median gross rent | $790 | $942 |
| Population | 2,909 | 35,214 |
The weather behind that power bill
Mount Gilead sits in Morrow County, which averages a high of 83.6°F in its hottest month and a low of 19.0°F in its coldest, with 37.55" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 779 cooling and 5,902 heating degree days, which is what sets the $175 electricity line above.
See the full climate breakdown for Morrow County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Morrow County
Common questions
How much does it cost to own a home in Mount Gilead?
A $156,000 home in Mount Gilead, Ohio costs approximately $1,356 per month with 20% down at 6.66%. That is $802 principal and interest, $123 property tax, $58 homeowners insurance, $243 utilities and $130 set aside for maintenance.
What is the property tax rate in Mount Gilead?
Mount Gilead has an effective property tax rate of 0.944%, based on a median home value of $156,200 and median real estate taxes of $1,475. That is lower than the Morrow County average of 1.100%.
What is the average home price in Mount Gilead?
The median owner-occupied home value in Mount Gilead, Ohio is $156,200, against $200,800 across Morrow County.
Is it cheaper to rent or buy in Mount Gilead?
Median gross rent in Mount Gilead is $790 a month, against $1,356 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 Mount Gilead — 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.