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Madison County, OH

Rent vs Own in Madison County, Ohio

In Madison County the ownership stack ($1,549/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: 12,162.

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Renting is cheaper in Madison County

HUD's 2-bedroom rent is $1,430/mo - only a thin step below the $1,549/mo ownership stack. That is a $119/mo difference.

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

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

Primary driver

Income supports the median purchase price

Median household income is $87,045, and the 2.9x home-price-to-income ratio leaves room for the ownership stack (property tax alone is 2.9% of median income). The monthly gap above is more about mortgage rate and insurance assumptions than about the purchase price being out of reach.

Decision signal 2

Renting wins, but only by a thin premium

At $250,100 for the median home and $2,541/yr in tax (1.02%), Madison County's ownership stack (~$1,549/mo) only narrowly exceeds the $1,430/mo HUD 2-bedroom rent - a $119/mo premium. That is the band where a rate drop or a larger down payment most often flips the cash-flow verdict.

Decision signal 3

HUD moved the rent benchmark down

HUD cut its 2-bedroom Fair Market Rent for Madison 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.

Decision signal 4

The county sits near the state middle

Using the assumptions above, Madison County ranks 44 of 88 Ohio counties for buy-vs-rent value (rank 1 = the best relative deal for buying). It sits ahead of 44 other Ohio counties on this measure.

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
$1,549
Mortgage (P&I) $1,265
Property Tax $212
Insurance (est.) $73
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
$87,045
$7,254/mo
Home Price / Income
2.9x
Affordable (≤3x)
Tax-to-Income Ratio
2.9%
National benchmark: 2-4%

Who actually pays it here

Even with the loan gone, the largest group of Madison 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.

Madison 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 Madison County, Ohio? ▼
HUD's 2-bedroom rent is only a thin step cheaper than owning in Madison County (about $119/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 Madison 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 Madison County? ▼
On the common 3x-income guideline, a $87,045 household here can afford up to $261,135, which comfortably covers this county's $250,100 median home price -- a healthier affordability picture than many of the counties tracked on this site.
What is the median home price in Madison County? ▼
$250,100, per the Census Bureau's ACS 5-Year Estimates. The property tax on that value works out to roughly 1.02% a year, in line with typical rates for the area.
Is rent going up or down in Madison 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.
How does Madison County compare to other Ohio counties for renting vs buying? ▼
Out of 88 Ohio counties ranked here on buy-vs-rent value, Madison County lands at spot 44, roughly in the middle of the pack statewide. The <a href="/states/ohio">Ohio state page</a> lists every peer county's tax bill beside this one.

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 →