Total monthly cost of ownership
Cost to Own a Home in Mount Sterling, Ohio
A $159,000 home here costs
$1,373per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $817. The real number is $556 higher every month — 68% 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 Sterling against Madison County and Ohio
| Measure | Mount Sterling | Madison County |
|---|---|---|
| Median home value | $159,100 | $231,400 |
| Median property tax | $1,453 | $2,437 |
| Effective tax rate | 0.913% | 1.053% |
| Median gross rent | $882 | $944 |
| Population | 1,740 | 44,126 |
The weather behind that power bill
Mount Sterling sits in Madison County, which averages a high of 82.2°F in its hottest month and a low of 18.6°F in its coldest, with 42.28" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 742 cooling and 6,040 heating degree days, which is what sets the $175 electricity line above.
See the full climate breakdown for Madison County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Madison County
Common questions
How much does it cost to own a home in Mount Sterling?
A $159,000 home in Mount Sterling, Ohio costs approximately $1,373 per month with 20% down at 6.66%. That is $817 principal and interest, $121 property tax, $59 homeowners insurance, $243 utilities and $133 set aside for maintenance.
What is the property tax rate in Mount Sterling?
Mount Sterling has an effective property tax rate of 0.913%, based on a median home value of $159,100 and median real estate taxes of $1,453. That is lower than the Madison County average of 1.053%.
What is the average home price in Mount Sterling?
The median owner-occupied home value in Mount Sterling, Ohio is $159,100, against $231,400 across Madison County.
Is it cheaper to rent or buy in Mount Sterling?
Median gross rent in Mount Sterling is $882 a month, against $1,373 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 Sterling — 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.