CALCMONEY // HOME AFFORDABILITY // OH // TOLEDO
How much house can you afford in Toledo? Based on local median home prices, current OH mortgage rates, and Toledo property tax data.
$152,000
$1,076/mo
$46,114/yr
$124,365
Monthly housing costs of $1,076 represent 32.3% of Toledo's median gross monthly income ($3,333/mo). At 32.3%, this slightly exceeds the 28% rule. Buyers need above-median income or a 25%+ down payment to qualify comfortably.
| Median Home Price | $152,000 |
| Down Payment (20%) | $30,400 |
| Loan Amount | $121,600 |
| Monthly PI Payment | $785 |
| Monthly Property Tax | $228 |
| Monthly Insurance Est. | $63 |
| Total Monthly PITI | $1,076 |
| Housing Cost % of Income | 32.3% |
| Required Income (28% rule) | $46,114/yr |
| Max Affordable Home | $124,365 |
$5,320
$1,342/mo
Toledo Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $152,000 | Toledo city median |
| Down Payment (20%) | $30,400 | Conventional loan |
| Monthly PITI | $1,076 | 6.7% rate, 30yr fixed |
| Required Income (28% rule) | $46,114 | Annual gross |
| Max Affordable Home | $124,365 | Based on median income |
| FHA Down (3.5%) | $5,320 | Minimum FHA |
| Housing Cost % of Income | 32.3% | Median income: $40,000/yr |
| Property Tax Rate | 1.8% | $2,736/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Toledo is $152,000, with a local 30-year mortgage rate of 6.7%. A buyer putting 20% down carries a loan of $121,600, generating a monthly P&I payment of $785. Adding property taxes ($228/mo) and homeowners insurance ($63/mo) brings total monthly PITI to $1,076.
Toledo's property tax rate of 1.8% is near the national average, adding a standard increment to monthly housing costs. On the Toledo median home, that is $228/month, or $2,736 per year.
Ohio levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Toledo should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Toledo's median income of $40,000/year can afford up to $933/month in total housing costs. Based on Toledo's mortgage rate of 6.7% and property tax rate of 1.8%, that translates to a maximum affordable home price of approximately $124,365 with 20% down on a 30-year loan.
To afford the median Toledo home priced at $152,000, you need an annual gross income of approximately $46,114. Total monthly housing costs (principal and interest of $785, property taxes of $228, and insurance of $63) come to $1,076/month, which equals 28% of the required income.
At the median home price of $152,000 and median household income of $40,000, the total monthly housing cost of $1,076 represents 32.3% of gross monthly income. This slightly exceeds the standard 28% rule. Buyers will need above-median income or a larger down payment to stay within guidelines.
A conventional 20% down payment on the median Toledo home of $152,000 is $30,400. An FHA loan requires just 3.5% down — $5,320 — but adds mortgage insurance of roughly $104/month, bringing total FHA payments to $1,342/month.
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