Total monthly cost of ownership
Cost to Own a Home in Van Wert, Ohio
A $110,000 home here costs
$1,066per 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 $45,500 a year.
A standard mortgage calculator would have told you $600. The real number is $467 higher every month, 78% more than the payment most buyers budget for.
Compare Van Wert County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Van Wert against Van Wert County and Ohio
| Measure | Van Wert | Van Wert County |
|---|---|---|
| Median home value | $109,700 | $137,300 |
| Median property tax | $1,223 | $1,327 |
| Effective tax rate | 1.115% | 0.966% |
| Median gross rent | $739 | $792 |
| Population | 10,710 | 28,824 |
The weather behind that power bill
Van Wert sits in Van Wert County, which averages a high of 84.5°F in its hottest month and a low of 18.2°F in its coldest, with 40.36" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 937 cooling and 5,995 heating degree days, which is what sets the $164 electricity line above.
See the full climate breakdown for Van Wert County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Van Wert County
Talk to someone who works this market
These are Van Wert 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 Van Wert every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Van Wert I already own here and may sell
Common questions
How much does it cost to own a home in Van Wert?
A $110,000 home in Van Wert, Ohio costs approximately $1,066 per month with 20% down at 7.24%. That is $600 principal and interest, $102 property tax, $41 homeowners insurance, $232 utilities and $92 set aside for maintenance.
What is the property tax rate in Van Wert?
Van Wert has an effective property tax rate of 1.115%, based on a median home value of $109,700 and median real estate taxes of $1,223. That is higher than the Van Wert County average of 0.966%.
What is the average home price in Van Wert?
The median owner-occupied home value in Van Wert, Ohio is $109,700, against $137,300 across Van Wert County.
Is it cheaper to rent or buy in Van Wert?
Median gross rent in Van Wert is $739 a month, against $1,066 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 Van Wert?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Van Wert, Ohio at today's rate takes a household income of roughly $45,500 a year. That covers the full $1,066 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Van Wert, 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.