Quick answer
The median home in Columbus costs $265K. With 20% down ($53K) at 7% for 30 years, the monthly payment is $1,410/month. Total interest paid over 30 years: $295,759.
Calculator · OH · 2026
Mortgage Calculator for Columbus, OH (2026)
Pre-filled with Columbus's median home price of $265K. Compare payments across down payment sizes and loan terms at the current 7.0% baseline rate.
Last updated: April 23, 2026
Columbus Mortgage Payment Scenarios
Median home price: $265K · Interest rate: 7% · Excludes property taxes and insurance.
| Down Payment | Down ($) | Loan Amount | 30-yr/mo | 15-yr/mo | Total Interest (30yr) |
|---|---|---|---|---|---|
| 5% | $13,250 | $251,750 | $1,675 | $2,263 | $351,214 |
| 10% | $26,500 | $238,500 | $1,587 | $2,144 | $332,729 |
| 20% | $53,000 | $212,000 | $1,410 | $1,906 | $295,759 |
PMI required for <20% down — add ~$100–300/month to payments above.
Rent vs Buy in Columbus
Monthly cost comparison based on median prices — 20% down, 30-year mortgage at 7%.
Buying (median home)
+ builds equity in $265K asset
Renting (2-bedroom)
Flexibility to move; no equity built
Amortization Over Time
$265K home · 20% down ($212K loan) · 7% · 30 years
Year 1
Year 15
Year 30 (Final)
Frequently Asked Questions
What is the monthly mortgage payment for a home in Columbus?
The median home price in Columbus is $265K. With 20% down and a 30-year loan at 7%, the monthly payment is $1,410. Adding estimated property taxes and insurance brings total monthly costs to approximately $1,675.
Is it cheaper to rent or buy in Columbus?
A 2-bedroom rental in Columbus averages $1,480/month. Buying the median $265K home with 20% down costs approximately $1,675/month (mortgage + taxes + insurance) — $195 more than renting. However, buying builds equity while renting does not.
How much do I need to earn to buy a home in Columbus?
Using the 28% housing rule, you need at least $60K–72K in annual gross income to comfortably afford the median $265K home in Columbus with 20% down. You also need $53K+ saved for the down payment plus 2–5% in closing costs.
What are property taxes like in Columbus?
OH has a state income tax rate of Up to 3.99%. Property taxes vary by county but on a $265K home, expect $221–$442/month in property taxes (1–2% annual rate). This is in addition to your mortgage payment.