Total monthly cost of ownership
Cost to Own a Home in New Miami, Ohio
A $93,000 home here costs
$965per 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 $41,500 a year.
A standard mortgage calculator would have told you $515. The real number is $450 higher every month, 87% more than the payment most buyers budget for.
Compare Butler County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for New Miami from a five-year rolling sample, and with about 2,280 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 Butler 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.
New Miami against Butler County and Ohio
| Measure | New Miami | Butler County |
|---|---|---|
| Median home value | $93,000 | $243,000 |
| Median property tax | $1,259 | $3,010 |
| Effective tax rate | 1.354% | 1.239% |
| Median gross rent | $1,074 | $1,098 |
| Population | 2,280 | 389,910 |
The weather behind that power bill
New Miami sits in Butler County, which averages a high of 86.8°F in its hottest month and a low of 21.5°F in its coldest, with 41.42" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,067 cooling and 5,111 heating degree days, which is what sets the $165 electricity line above.
See the full climate breakdown for Butler County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Butler County
Talk to someone who works this market
These are New Miami 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 New Miami every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in New Miami I already own here and may sell
Common questions
How much does it cost to own a home in New Miami?
A $93,000 home in New Miami, Ohio costs approximately $965 per month with 20% down at 7.4%. That is $515 principal and interest, $105 property tax, $35 homeowners insurance, $233 utilities and $78 set aside for maintenance.
What is the property tax rate in New Miami?
New Miami has an effective property tax rate of 1.354%, based on a median home value of $93,000 and median real estate taxes of $1,259. That is higher than the Butler County average of 1.239%.
What is the average home price in New Miami?
The median owner-occupied home value in New Miami, Ohio is $93,000, against $243,000 across Butler County.
Is it cheaper to rent or buy in New Miami?
Median gross rent in New Miami is $1,074 a month, against $965 to own the median home all in. Owning costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in New Miami?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in New Miami, Ohio at today's rate takes a household income of roughly $41,500 a year. That covers the full $965 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for New Miami, 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.