Total monthly cost of ownership
Cost to Own a Home in New Paris, Ohio
A $87,000 home here costs
$893per 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 $38,500 a year.
A standard mortgage calculator would have told you $474. The real number is $419 higher every month, 88% more than the payment most buyers budget for.
Compare Preble County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for New Paris from a five-year rolling sample, and with about 1,338 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 Preble 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 Paris against Preble County and Ohio
| Measure | New Paris | Preble County |
|---|---|---|
| Median home value | $86,500 | $171,100 |
| Median property tax | $977 | $1,841 |
| Effective tax rate | 1.129% | 1.076% |
| Median gross rent | $730 | $803 |
| Population | 1,338 | 40,802 |
The weather behind that power bill
New Paris sits in Preble County, which averages a high of 84.9°F in its hottest month and a low of 17.4°F in its coldest, with 43.11" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 834 cooling and 5,825 heating degree days, which is what sets the $164 electricity line above.
See the full climate breakdown for Preble County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Preble County
Talk to someone who works this market
These are New Paris 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 Paris every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in New Paris I already own here and may sell
Common questions
How much does it cost to own a home in New Paris?
A $87,000 home in New Paris, Ohio costs approximately $893 per month with 20% down at 7.24%. That is $474 principal and interest, $82 property tax, $32 homeowners insurance, $232 utilities and $73 set aside for maintenance.
What is the property tax rate in New Paris?
New Paris has an effective property tax rate of 1.129%, based on a median home value of $86,500 and median real estate taxes of $977. That is higher than the Preble County average of 1.076%.
What is the average home price in New Paris?
The median owner-occupied home value in New Paris, Ohio is $86,500, against $171,100 across Preble County.
Is it cheaper to rent or buy in New Paris?
Median gross rent in New Paris is $730 a month, against $893 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 New Paris?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in New Paris, Ohio at today's rate takes a household income of roughly $38,500 a year. That covers the full $893 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for New Paris, 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.