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Licking County, OH

Rent vs Own in Licking County, Ohio

In Licking County the ownership stack ($1,752/mo) sits only modestly above HUD's $1,430/mo 2-bedroom rent, a thin premium, not a blowout. Small assumption changes in the calculator can flip the verdict. Owner-occupied homes: 50,603.

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Renting is cheaper in Licking County

HUD's 2-bedroom rent is $1,430/mo - only a thin step below the $1,752/mo ownership stack. That is a $322/mo difference.

Based on 20% down, 6.5% rate, 30-year mortgage. Adjust below.

What This Data Tells Us About Renting vs Owning in Licking County

Primary driver

Renting compares well inside the state

Using the assumptions above, Licking County ranks 71 of 88 Ohio counties for buy-vs-rent value (rank 1 = the best relative deal for buying). It sits ahead of 17 other Ohio counties on this measure.

Decision signal 2

Price and income sit in the middle band

Median household income is $84,426, for a 3.3x home-price-to-income ratio in the middle of the national distribution; property tax takes 4.0% of that income. Small changes in down payment or rate move this county across the rent-vs-own line more than they would in a high-ratio market.

Decision signal 3

Renting wins, but only by a thin premium

At $275,200 for the median home and $3,364/yr in tax (1.22%), Licking County's ownership stack (~$1,752/mo) only narrowly exceeds the $1,430/mo HUD 2-bedroom rent - a $322/mo premium. That is the band where a rate drop or a larger down payment most often flips the cash-flow verdict.

Decision signal 4

HUD moved the rent benchmark down

HUD cut its 2-bedroom Fair Market Rent for Licking County from $1,445/mo in FY2025 to $1,430/mo in FY2026: it decreased by $15/mo (-1.0%). A falling benchmark narrows the case for buying here, and it usually reflects HUD re-estimating the local market rather than existing rents being cut.

Methodology & disclaimer

This calculator is for informational purposes only and is not tax, legal, or financial advice. Property tax figures come from the U.S. Census Bureau ACS 5-Year Estimates and rent figures come from HUD Fair Market Rents; both describe area medians, not individual transactions. Insurance is estimated at 0.35% of home value annually and closing costs, maintenance, HOA, and PMI are not included. Consult a licensed mortgage, tax, or real-estate professional before making a buy-or-rent decision based on these numbers.

Monthly Cost Breakdown

Estimated Monthly Ownership
$1,752
Mortgage (P&I) $1,392
Property Tax $280
Insurance (est.) $80
Monthly Rent (2-BR FMR)
$1,430
Studio$1,111
1-Bedroom$1,194
2-Bedroom$1,430
3-Bedroom$1,715
4-Bedroom$1,927

Adjust Your Scenario

Affordability Context

Median Household Income
$84,426
$7,036/mo
Home Price / Income
3.3x
Moderate (3-5x)
Tax-to-Income Ratio
4.0%
National benchmark: 2-4%

Who actually pays it here

Even with the loan gone, the largest group of Licking County owners still owes $3,000 or more every year - a recurring holding cost of a few hundred dollars a month, which is why "paid off" understates the real cost of keeping property here.

Licking County matches the national pattern: six-figure earners between $100,000 and $200,000 account for more of these write-offs than any other local group.

Layered on a thin rent-vs-own premium, that annual bill is often the swing factor: a paid-off owner still faces a real yearly charge even when the mortgage payment itself would have looked competitive.

Bill bands are Census ACS counts of owner-occupied homes without a mortgage. Income brackets are IRS Statistics of Income county data for tax year 2022, counted over FILERS reporting real-estate taxes on Schedule A, which is a smaller group than homeowners: most filers take the standard deduction.

Nearby Counties

Cuyahoga County
Home: $195,400 Tax: $3,910/yr
Franklin County
Home: $288,400 Tax: $4,244/yr
Hamilton County
Home: $241,900 Tax: $3,652/yr
Summit County
Home: $208,700 Tax: $3,195/yr
Montgomery County
Home: $180,900 Tax: $3,127/yr
Lucas County
Home: $163,900 Tax: $2,773/yr

Frequently Asked Questions

Is it cheaper to rent or buy in Licking County, Ohio? ▼
HUD's 2-bedroom rent is only a thin step cheaper than owning in Licking County (about $322/mo) on the standard 20%-down / 6.5% assumptions. A larger down payment or a rate drop often closes it; equity is still the ownership-only bonus.
What is the average rent in Licking County? ▼
HUD prices a 2-bedroom unit at $1,430/mo here. Sizing up matters: going from a studio to a 4-bedroom adds about $816/mo, so the per-bedroom jump is worth checking against your actual space needs before assuming the 2-BR figure applies to your situation.
How much house can you afford in Licking County? ▼
On the common 3x-income guideline, a $84,426 household here can afford up to $253,278 -- about $21,922 short of this county's $275,200 median home. That gap is typically closed with a larger down payment, dual incomes, or a longer search outside the median price band.
How does Licking County compare to other Ohio counties for renting vs buying? ▼
Out of 88 Ohio counties ranked here on buy-vs-rent value, Licking County lands at spot 71, putting it in the more rent-favorable quarter of the state. The <a href="/states/ohio">Ohio state page</a> lists every peer county's tax bill beside this one.
What is the median home price in Licking County? ▼
$275,200, per the Census Bureau's ACS 5-Year Estimates. The property tax on that value works out to roughly 1.22% a year, in line with typical rates for the area.
Is rent going up or down in Licking County? ▼
HUD's 2-bedroom Fair Market Rent figure has fallen 1.0% between the FY2025 and FY2026 publications, the two most recent years tracked here.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from the U.S. Census Bureau (American Community Survey). See our methodology for details. Retrieved and formatted by PlainPropertyTax

Source: U.S. Census Bureau, Government Finances State and local property tax revenue by jurisdiction · 2025

Verify with HUD →