The typical owner-occupied home in Fayette is worth about $94,400, 56% below the Ohio median of $214,800 and 72% below the national median of $332,700. Owners pay a median $1,346 a year in property taxes, about 1.43% of their home's value, higher than the Ohio rate of 1.31%. The median household earns $49,539 a year, so the median home costs 1.9 times the median income (3.0 times for Ohio). 51% of occupied homes here are lived in by their owners, and 60% of those owners still have a mortgage.
Fayette at a glance
| Fayette | Ohio | U.S. | |
|---|---|---|---|
| Median home value | $94,400 | $214,800 | $332,700 |
| Median property tax paid per year | $1,346 | $2,822 | $3,119 |
| Property tax as a share of value | 1.43% | 1.31% | 0.94% |
| Median household income | $49,539 | $71,389 | $80,734 |
| Homes lived in by their owners | 51% | 67% | 65% |
| Owner homes with a mortgage | 60% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,102 | $1,517 | $1,963 |
| Those costs as a share of the owners' income | 20.6% | 18.6% | 21.0% |
| Median rent | $806 | $1,034 | $1,413 |
| Rent as a share of renters' income | 27.5% | 28.3% | 30.6% |
| Median year homes were built | 1966 | 1970 | 1980 |
| Vacant homes | 6.1% | 8.1% | 10.1% |
| Population | 969 | 11,810,293 | 334,922,499 |
What a typical home costs per month in Fayette
At this week's average 30-year rate of 7.11%, buying the median Fayette home of $94,400 with 20% down costs about $660 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $817, 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 $28,280 for the 20%-down payment. That payment is 16% of the median Fayette household income of $49,539; at that income and 20% down, the 28% guideline points to a home of about $165,000.
The median rent here is $806 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $18,880 |
|---|---|
| Loan amount | $75,520 |
| Principal and interest | $508 |
| Property taxes (1.43% a year) | $112 |
| Homeowners insurance (our estimate, 0.5% a year) | $39 |
| PMI | $0 |
| Total per month | $660 |
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| Down payment | $3,304 |
|---|---|
| Loan amount | $92,690 |
| Principal and interest | $624 |
| Property taxes (1.43% a year) | $112 |
| Homeowners insurance (our estimate, 0.5% a year) | $39 |
| FHA mortgage insurance | $42 |
| Total per month | $817 |
Change the numbers in the calculator
Questions about home buying in Fayette
What is the median home value in Fayette?
About $94,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Fayette?
Homeowners pay a median $1,346 a year, which is about 1.43% 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 Fayette?
For the median home with 20% down at 7.11%, the payment is about $660 a month. Keeping that under 28% of gross income takes about $28,280 a year.
More about Fayette
- Mortgage Refinance in Fayette
- Debt Relief in Fayette
- Home Equity Loans in Fayette
- 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