The typical owner-occupied home in Ontario is worth about $607,600, 17% below the California median of $734,700 and 83% above the national median of $332,700. Owners pay a median $3,638 a year in property taxes, about 0.60% of their home's value, lower than the California rate of 0.70%. The median household earns $88,941 a year, so the median home costs 6.8 times the median income (7.4 times for California). 58% of occupied homes here are lived in by their owners, and 73% of those owners still have a mortgage.
Ontario at a glance
| Ontario | California | U.S. | |
|---|---|---|---|
| Median home value | $607,600 | $734,700 | $332,700 |
| Median property tax paid per year | $3,638 | $5,124 | $3,119 |
| Property tax as a share of value | 0.60% | 0.70% | 0.94% |
| Median household income | $88,941 | $99,122 | $80,734 |
| Homes lived in by their owners | 58% | 56% | 65% |
| Owner homes with a mortgage | 73% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $2,549 | $2,946 | $1,963 |
| Those costs as a share of the owners' income | 26.3% | 24.8% | 21.0% |
| Median rent | $2,030 | $2,036 | $1,413 |
| Rent as a share of renters' income | 36.5% | 32.8% | 30.6% |
| Median year homes were built | 1980 | 1976 | 1980 |
| Vacant homes | 3.9% | 7.5% | 10.1% |
| Population | 180,547 | 39,287,377 | 334,922,499 |
What a typical home costs per month in Ontario
At this week's average 30-year rate of 7.11%, buying the median Ontario home of $607,600 with 20% down costs about $3,827 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,839, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $164,008 for the 20%-down payment. That payment is 52% of the median Ontario household income of $88,941; at that income and 20% down, the 28% guideline points to a home of about $330,000.
The median rent here is $2,030 a month, so owning the median home costs about $1,797 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $121,520 |
|---|---|
| Loan amount | $486,080 |
| Principal and interest | $3,270 |
| Property taxes (0.60% a year) | $304 |
| Homeowners insurance (our estimate, 0.5% a year) | $253 |
| PMI | $0 |
| Total per month | $3,827 |
Change the numbers in the calculator
| Down payment | $21,266 |
|---|---|
| Loan amount | $596,595 |
| Principal and interest | $4,013 |
| Property taxes (0.60% a year) | $304 |
| Homeowners insurance (our estimate, 0.5% a year) | $253 |
| FHA mortgage insurance | $269 |
| Total per month | $4,839 |
Change the numbers in the calculator
Questions about home buying in Ontario
What is the median home value in Ontario?
About $607,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ontario?
Homeowners pay a median $3,638 a year, which is about 0.60% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Ontario?
For the median home with 20% down at 7.11%, the payment is about $3,827 a month. Keeping that under 28% of gross income takes about $164,008 a year.
More about Ontario
- Mortgage Refinance in Ontario
- Debt Relief in Ontario
- Home Equity Loans in Ontario
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data