Total monthly cost of ownership
Cost to Own a Home in Wakeman, Ohio
A $169,000 home here costs
$1,435per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $869. The real number is $566 higher every month — 65% 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.
Wakeman against Huron County and Ohio
| Measure | Wakeman | Huron County |
|---|---|---|
| Median home value | $169,300 | $158,900 |
| Median property tax | $1,429 | $1,664 |
| Effective tax rate | 0.844% | 1.047% |
| Median gross rent | $776 | $824 |
| Population | 1,100 | 58,412 |
The weather behind that power bill
Wakeman sits in Huron County, which averages a high of 83.0°F in its hottest month and a low of 19.0°F in its coldest, with 40.08" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 827 cooling and 6,084 heating degree days, which is what sets the $175 electricity line above.
See the full climate breakdown for Huron County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Huron County
Common questions
How much does it cost to own a home in Wakeman?
A $169,000 home in Wakeman, Ohio costs approximately $1,435 per month with 20% down at 6.66%. That is $869 principal and interest, $119 property tax, $63 homeowners insurance, $243 utilities and $141 set aside for maintenance.
What is the property tax rate in Wakeman?
Wakeman has an effective property tax rate of 0.844%, based on a median home value of $169,300 and median real estate taxes of $1,429. That is lower than the Huron County average of 1.047%.
What is the average home price in Wakeman?
The median owner-occupied home value in Wakeman, Ohio is $169,300, against $158,900 across Huron County.
Is it cheaper to rent or buy in Wakeman?
Median gross rent in Wakeman is $776 a month, against $1,435 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 Wakeman — 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.