Total monthly cost of ownership
Cost to Own a Home in Urbana, Ohio
A $147,000 home here costs
$1,318per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $756. The real number is $563 higher every month — 74% 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.
Urbana against Champaign County and Ohio
| Measure | Urbana | Champaign County |
|---|---|---|
| Median home value | $147,300 | $186,300 |
| Median property tax | $1,708 | $1,938 |
| Effective tax rate | 1.160% | 1.040% |
| Median gross rent | $911 | $884 |
| Population | 11,153 | 38,772 |
The weather behind that power bill
Urbana sits in Champaign County, which averages a high of 84.8°F in its hottest month and a low of 19.0°F in its coldest, with 44" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 845 cooling and 5,839 heating degree days, which is what sets the $175 electricity line above.
See the full climate breakdown for Champaign County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Champaign County
Common questions
How much does it cost to own a home in Urbana?
A $147,000 home in Urbana, Ohio costs approximately $1,318 per month with 20% down at 6.66%. That is $756 principal and interest, $142 property tax, $55 homeowners insurance, $243 utilities and $123 set aside for maintenance.
What is the property tax rate in Urbana?
Urbana has an effective property tax rate of 1.160%, based on a median home value of $147,300 and median real estate taxes of $1,708. That is higher than the Champaign County average of 1.040%.
What is the average home price in Urbana?
The median owner-occupied home value in Urbana, Ohio is $147,300, against $186,300 across Champaign County.
Is it cheaper to rent or buy in Urbana?
Median gross rent in Urbana is $911 a month, against $1,318 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 Urbana — 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.