Columbus, OH variant. This is a Columbus, OH-specific version of the Rent vs Buy Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Rent vs Buy Calculator.
In Columbus, renting costs about $1,450/month while owning the $235,000 median home runs roughly $1,574/month all-in - the gap drives the rent-vs-buy decision.
Rent vs. buy in Columbus
Owning includes P&I (≈ $1,188), property tax (≈ $317), and insurance - about $1,574/month before maintenance, versus $1,450 to rent.
Buying wins when you stay long enough to amortize the $47,000 down payment and closing costs, and when appreciation plus equity outpace the rent you'd otherwise pay.
About Columbus, OH
Columbus imposes a municipal income tax on wages earned in the city, in addition to Ohio state income tax.
Columbus offers affordable home prices and rents relative to many large cities, supporting accessible homeownership.
Columbus's economy is anchored by its role as the Ohio state capital, a major public university, and growing insurance, finance, and technology sectors.
Worked example: monthly comparison
Own ≈ $1,574/mo vs. rent $1,450/mo - a $124 premium to own. Factor in the $47,000 down payment and expected years in the home.
Quick reference
- Median home value: $235,000
- Median rent: $1,450/mo
- Median household income: $62,994
- Local sales tax: 7.5%
- City income tax: 2.5%
- Effective property tax rate: 1.62%
- Cost of living index: 91 (US avg = 100)
Frequently Asked Questions
Is it better to rent or buy in Columbus?
Owning runs ≈ $1,574/month vs. $1,450 to rent. Buying favors longer stays that recover the $47,000 down payment and closing costs.
What's the median rent in Columbus?
About $1,450 per month.