Total monthly cost of ownership
Cost to Own a Home in Racine, Ohio
A $126,000 home here costs
$1,151per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $648. The real number is $504 higher every month — 78% 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.
Racine against Meigs County and Ohio
| Measure | Racine | Meigs County |
|---|---|---|
| Median home value | $126,300 | $113,400 |
| Median property tax | $1,304 | $1,117 |
| Effective tax rate | 1.032% | 0.985% |
| Median gross rent | $682 | $704 |
| Population | 1,022 | 22,072 |
The weather behind that power bill
Racine sits in Meigs County, which averages a high of 84.6°F in its hottest month and a low of 21.5°F in its coldest, with 43.13" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 826 cooling and 5,280 heating degree days, which is what sets the $175 electricity line above.
See the full climate breakdown for Meigs County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Meigs County
Common questions
How much does it cost to own a home in Racine?
A $126,000 home in Racine, Ohio costs approximately $1,151 per month with 20% down at 6.66%. That is $648 principal and interest, $108 property tax, $47 homeowners insurance, $243 utilities and $105 set aside for maintenance.
What is the property tax rate in Racine?
Racine has an effective property tax rate of 1.032%, based on a median home value of $126,300 and median real estate taxes of $1,304. That is higher than the Meigs County average of 0.985%.
What is the average home price in Racine?
The median owner-occupied home value in Racine, Ohio is $126,300, against $113,400 across Meigs County.
Is it cheaper to rent or buy in Racine?
Median gross rent in Racine is $682 a month, against $1,151 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 Racine — 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.