Quick answer
At current rates, renting wins over the full 30-year horizon in Columbus. Monthly ownership cost $2,069 (vs $$1,480/mo rent) plus OH's 1.62% property tax make the math tough.
Rent vs Buy · OH
Rent vs Buy in Columbus (2026)
Real math using OH's 1.62% property tax rate, $1,300/year average insurance, and a 6.8% 30-year fixed mortgage. Accounts for opportunity cost — what the down payment would earn invested at 7%.
Last updated: April 23, 2026
Verdict at current rates
Renting wins (30-year horizon)
In Columbus at OH's tax rates and current 6.8% mortgages, keeping the down payment invested at 7% beats homeownership even after 30 years. The standard advice "buy to build equity" doesn't apply here at today's price-to-rent ratio.
Monthly Cost Breakdown
Buying
$2,069/mo
Mortgage P&I
$212,000 loan, 30yr @ 6.8%
$1,382
Property tax
1.62% of assessed (OH avg)
$358
Homeowners insurance
$1,300/yr OH avg
$108
Maintenance
1%/yr of home value
$221
Cash at close: ~$59,625 ($20% down + fees)
Renting
$1,480/mo
2BR rent (median)
Columbus market rate
$1,480
Renters insurance
~$15/mo typical
$15
Down payment invested
$53,000 growing at 7%/yr
(opportunity cost)
Monthly gap: $589 cheaper than buying. Renter invests that difference.
Year-by-Year Net Position
"Buy wins by" = what you'd clear selling the home minus what the renter has in investments. Positive = buy ahead.
| Year | Home value | Buyer equity (net) | Renter portfolio (net) | Buy wins by |
|---|---|---|---|---|
| Year 5 | $307,208 | $-90,416 | +$17,539 | $-107,955 |
| Year 10 | $356,138 | $-141,941 | $-18,477 | $-123,464 |
| Year 15 | $412,861 | $-179,636 | $-53,087 | $-126,549 |
| Year 30 | $643,225 | $-139,332 | $-69,626 | $-69,706 |
Assumptions
Every rent-vs-buy calculator depends on the assumptions. Here are ours — all transparent, none cherry-picked to bias the answer.
This is a rule-of-thumb calculator. Real decisions involve your specific tax bracket, any HOA, mortgage points, closing-cost negotiations, and exact loan terms.
Frequently Asked Questions
Is it better to rent or buy in Columbus?
In Columbus at current mortgage rates (6.8%), renting and investing the down payment beats buying for the full 30-year horizon. Median monthly ownership costs ($2,069) well exceed median 2BR rent ($1,480), and OH's 1.62% property tax makes the math especially tough.
What's the monthly cost of owning a home in Columbus?
On a median $265K home with 20% down at 6.8% fixed rate: mortgage P&I $1,382, property tax $358 (1.62% of assessed value), homeowners insurance $108 (OH average $1,300/year), and maintenance $221 (1% of home value/year). Total: $2,069/month.
How much down payment do I need to buy in Columbus?
20% down on a median Columbus home ($265K) is $53,000. Plus closing costs of roughly 2.5% ($6,625). Total cash-to-close: about $59,625. FHA loans allow 3.5% down ($9,275) but require mortgage insurance that adds ~$103/month.
What's the 10-year cost of renting vs buying in Columbus?
Over 10 years in Columbus: renters pay $203,598 in cumulative rent but have $185,121 invested (assuming 7% return on the $53,000 down payment + monthly savings). Buyers have paid $295,654 in total ownership costs and hold $175,081 in home equity. Net: renting is ahead by $123,464 at year 10.