Total monthly cost of ownership
Cost to Own a Home in Ontario, Ohio
A $163,000 home here costs
$1,483per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $838. The real number is $645 higher every month — 77% 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.
Ontario against Richland County and Ohio
| Measure | Ontario | Richland County |
|---|---|---|
| Median home value | $163,300 | $154,000 |
| Median property tax | $2,462 | $1,984 |
| Effective tax rate | 1.508% | 1.288% |
| Median gross rent | $1,059 | $791 |
| Population | 6,649 | 125,138 |
The weather behind that power bill
Ontario sits in Richland County, which averages a high of 82.8°F in its hottest month and a low of 19.1°F in its coldest, with 42.49" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 751 cooling and 5,983 heating degree days, which is what sets the $175 electricity line above.
See the full climate breakdown for Richland County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Richland County
Common questions
How much does it cost to own a home in Ontario?
A $163,000 home in Ontario, Ohio costs approximately $1,483 per month with 20% down at 6.66%. That is $838 principal and interest, $205 property tax, $61 homeowners insurance, $243 utilities and $136 set aside for maintenance.
What is the property tax rate in Ontario?
Ontario has an effective property tax rate of 1.508%, based on a median home value of $163,300 and median real estate taxes of $2,462. That is higher than the Richland County average of 1.288%.
What is the average home price in Ontario?
The median owner-occupied home value in Ontario, Ohio is $163,300, against $154,000 across Richland County.
Is it cheaper to rent or buy in Ontario?
Median gross rent in Ontario is $1,059 a month, against $1,483 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 Ontario — 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.