Ohio Rent vs Buy Calculator
Compare the true cost of renting versus buying in Ohio. Factor in Ohio property taxes (1.56%), insurance ($1K/yr), and local appreciation rates.
$35,000
Total Cost of Renting
$168K
$1,800/mo → $2,213/mo
Total Cost of Owning
$290K
mortgage + costs + selling
Equity Built
$146K
home worth $430K
Net Cost: Buying
$144K
total cost − equity
Side-by-Side
Total Rent Paid$168,035
Investment Gains (down payment)$24,984
Net Cost: Renting$143,051
Total Ownership Cost$289,567
Less: Equity at Sale−$145,645
Net Cost: Buying$143,922
Renting Saves$871
Ohio Housing at a Glance
Median Home Price
$215K
Ohio statewide
Property Tax Rate
1.56%
$280/mo on median
Avg Closing Costs
$3K
1.4% of purchase price
Homeowners Insurance
$1,400/yr
$117/mo
Ohio First-Time Buyer Program
OHFA Grants for Grads
Down payment assistance: 2.5% or 5% DPA