Total monthly cost of ownership
Cost to Own a Home in Payne, Ohio
A $108,000 home here costs
$1,035per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $555. The real number is $480 higher every month — 86% 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.
Payne against Paulding County and Ohio
| Measure | Payne | Paulding County |
|---|---|---|
| Median home value | $107,500 | $126,800 |
| Median property tax | $1,266 | $1,382 |
| Effective tax rate | 1.178% | 1.090% |
| Median gross rent | $763 | $750 |
| Population | 1,329 | 18,800 |
The weather behind that power bill
Payne sits in Paulding County, which averages a high of 85.1°F in its hottest month and a low of 16.8°F in its coldest, with 37" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 850 cooling and 6,160 heating degree days, which is what sets the $175 electricity line above.
See the full climate breakdown for Paulding County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Paulding County
Common questions
How much does it cost to own a home in Payne?
A $108,000 home in Payne, Ohio costs approximately $1,035 per month with 20% down at 6.66%. That is $555 principal and interest, $106 property tax, $40 homeowners insurance, $243 utilities and $90 set aside for maintenance.
What is the property tax rate in Payne?
Payne has an effective property tax rate of 1.178%, based on a median home value of $107,500 and median real estate taxes of $1,266. That is higher than the Paulding County average of 1.090%.
What is the average home price in Payne?
The median owner-occupied home value in Payne, Ohio is $107,500, against $126,800 across Paulding County.
Is it cheaper to rent or buy in Payne?
Median gross rent in Payne is $763 a month, against $1,035 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 Payne — 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.