The typical owner-occupied home in Ontario is worth about $141,700, 47% below the Wisconsin median of $266,500 and 57% below the national median of $332,700. Owners pay a median $2,095 a year in property taxes, about 1.48% of their home's value, close to the Wisconsin rate of 1.42%. The median household earns $50,250 a year, so the median home costs 2.8 times the median income (3.4 times for Wisconsin). 83% of occupied homes here are lived in by their owners, and 47% of those owners still have a mortgage.
Ontario at a glance
| Ontario | Wisconsin | U.S. | |
|---|---|---|---|
| Median home value | $141,700 | $266,500 | $332,700 |
| Median property tax paid per year | $2,095 | $3,792 | $3,119 |
| Property tax as a share of value | 1.48% | 1.42% | 0.94% |
| Median household income | $50,250 | $77,485 | $80,734 |
| Homes lived in by their owners | 83% | 68% | 65% |
| Owner homes with a mortgage | 47% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,545 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 21.6% | 19.5% | 21.0% |
| Median rent | $748 | $1,087 | $1,413 |
| Rent as a share of renters' income | 31.3% | 27.2% | 30.6% |
| Median year homes were built | 1973 | 1975 | 1980 |
| Vacant homes | 17.0% | 10.8% | 10.1% |
| Population | 422 | 5,914,872 | 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 $141,700 with 20% down costs about $996 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,232, 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 $42,702 for the 20%-down payment. That payment is 24% of the median Ontario household income of $50,250; at that income and 20% down, the 28% guideline points to a home of about $167,000.
The median rent here is $748 a month, so owning the median home costs about $248 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $28,340 |
|---|---|
| Loan amount | $113,360 |
| Principal and interest | $763 |
| Property taxes (1.48% a year) | $175 |
| Homeowners insurance (our estimate, 0.5% a year) | $59 |
| PMI | $0 |
| Total per month | $996 |
Change the numbers in the calculator
| Down payment | $4,960 |
|---|---|
| Loan amount | $139,133 |
| Principal and interest | $936 |
| Property taxes (1.48% a year) | $175 |
| Homeowners insurance (our estimate, 0.5% a year) | $59 |
| FHA mortgage insurance | $63 |
| Total per month | $1,232 |
Change the numbers in the calculator
Questions about home buying in Ontario
What is the median home value in Ontario?
About $141,700 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 $2,095 a year, which is about 1.48% 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 $996 a month. Keeping that under 28% of gross income takes about $42,702 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