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How much house can I afford on $245,000 in Ohio?

Quick answer

On a $245,000 salary in Ohio, you can afford about $705,000–$911,000 with a conventional loan (5% down) or up to $881,000 with FHA, using Ohio's 1.36% effective property tax rate. That's above the state's median home value of $199,200, assuming no other monthly debts.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsData last updated

Estimated max home price

$911,000

Estimated payment $7,349/mo

Down payment
$45,550
Loan amount
$865,450
Monthly housing payment
$7,349

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How does $245,000 compare with typical Ohio incomes and prices?

$245,000 is 3.5× the Ohio median household income. Your estimated 36%-DTI budget of $911,000 is $711,800 above the statewide median home value.

ScenarioMax priceMonthly paymentDown payment
Conventional, 28% DTI$705,000$5,709$35,250
Conventional, 36% DTI$911,000$7,350$45,550
FHA, 28% DTI$683,000$5,713$23,905
FHA, 36% DTI$881,000$7,342$30,835

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Can down payment assistance help in Ohio?

Ohio cities with a median home value under $911,000

Columbus ($234,500)Cleveland ($94,100)Cincinnati ($215,300)Toledo ($107,000)Akron ($111,200)Dayton ($93,200)Parma ($157,600)Canton ($94,400)Lorain ($123,500)Hamilton ($152,300)

Frequently asked questions

Ohio's median home value is $199,200. On $245,000 you can afford up to about $911,000 at 36% DTI, so a median-priced home is within reach.

Ohio homeowners pay a median of $2,712 a year — an effective rate of about 1.36% of home value (Census ACS 2019–2023).

The average HO-3 homeowners premium in Ohio was $1,116 a year in 2023, according to the NAIC.

Compare home costs in Ohio

$550,000 house$600,000 house$650,000 house$700,000 house$750,000 house$800,000 house

Sources

Data last updated October 23, 2026.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.