Home prices have surged in the U.S. in recent years. Driven by rising demand and supply constraints during the pandemic, the median home sale price spiked by nearly 50% from the second quarter of 2020 to Q3 in 2022. While the sale price of a typical American home has fallen in recent months since, housing prices remain at historic highs.
Not only have home values soared, but borrowing costs for home buyers have also climbed. The average interest rate on a 30-year fixed mortgage has been above 6% since September 2022, a high not seen in nearly a decade and a half. In a market defined by high prices and high mortgage rates, homeownership has become prohibitively expensive for a large number of Americans.
Still, housing prices are also subject to a number of factors that can be isolated from broader, nationwide market trends — and location is one of them. Two homes that are virtually identical can vary in price by hundreds of thousands of dollars, depending on where they are. And for prospective homeowners on a budget, some Ohio cities are far more affordable than others.
According to five-year estimates from the U.S. Census Bureau’s 2022 American Community Survey, the typical home in Ohio is worth $183,300. But across the 50 cities, towns, and unincorporated communities in the state with populations of at least 30,000, median home values range from less than $55,000 to over $500,000.
In any local market, home prices are often a reflection of what residents can afford. In Ohio, many of the least expensive cities for homebuyers are not high-income areas. Of the 50 Ohio cities with available data from the ACS, 27 have a median home value that is less than the statewide median. In all but four of these places, the typical household earns less than the statewide median household income of $66,990. Similarly, most of Ohio’s more expensive housing markets have higher earning populations.
These are the cheapest and most expensive housing markets in Ohio.
50. Youngstown
- Median home value: $54,900
- Homes worth over $1 million: 0.2%
- Homeownership rate: 56.1%
- Median household income: $34,295
- Total population: 60,048
49. Warren
- Median home value: $74,300
- Homes worth over $1 million: 0.0%
- Homeownership rate: 54.7%
- Median household income: $33,296
- Total population: 39,204
47. Canton
- Median home value: $86,200
- Homes worth over $1 million: 0.2%
- Homeownership rate: 48.2%
- Median household income: $37,627
- Total population: 70,589
47. Dayton
- Median home value: $86,200
- Homes worth over $1 million: 0.3%
- Homeownership rate: 48.4%
- Median household income: $41,443
- Total population: 137,305
46. Cleveland
- Median home value: $87,400
- Homes worth over $1 million: 0.4%
- Homeownership rate: 40.9%
- Median household income: $37,271
- Total population: 370,365
45. Lima
- Median home value: $87,600
- Homes worth over $1 million: 0.0%
- Homeownership rate: 46.6%
- Median household income: $41,824
- Total population: 35,555
44. Marion
- Median home value: $97,200
- Homes worth over $1 million: 0.0%
- Homeownership rate: 55.1%
- Median household income: $44,879
- Total population: 35,927
43. Mansfield
- Median home value: $97,300
- Homes worth over $1 million: 0.5%
- Homeownership rate: 50.2%
- Median household income: $40,996
- Total population: 47,630
42. Toledo
- Median home value: $98,800
- Homes worth over $1 million: 0.4%
- Homeownership rate: 52.4%
- Median household income: $45,405
- Total population: 269,962
41. Akron
- Median home value: $99,700
- Homes worth over $1 million: 0.0%
- Homeownership rate: 50.0%
- Median household income: $46,596
- Total population: 190,273
40. Springfield
- Median home value: $102,100
- Homes worth over $1 million: 0.0%
- Homeownership rate: 51.4%
- Median household income: $45,113
- Total population: 58,645
39. Euclid
- Median home value: $105,000
- Homes worth over $1 million: 0.1%
- Homeownership rate: 43.7%
- Median household income: $45,018
- Total population: 49,279
38. Lorain
- Median home value: $115,200
- Homes worth over $1 million: 0.2%
- Homeownership rate: 55.1%
- Median household income: $46,562
- Total population: 65,138
37. Austintown
- Median home value: $122,000
- Homes worth over $1 million: 0.1%
- Homeownership rate: 64.3%
- Median household income: $50,241
- Total population: 30,397
36. Massillon
- Median home value: $128,900
- Homes worth over $1 million: 0.6%
- Homeownership rate: 61.9%
- Median household income: $53,699
- Total population: 32,179
35. Elyria
- Median home value: $131,000
- Homes worth over $1 million: 0.3%
- Homeownership rate: 58.4%
- Median household income: $49,569
- Total population: 52,780
34. Middletown
- Median home value: $135,200
- Homes worth over $1 million: 0.3%
- Homeownership rate: 53.8%
- Median household income: $50,457
- Total population: 50,514
33. Hamilton
- Median home value: $141,300
- Homes worth over $1 million: 0.4%
- Homeownership rate: 54.6%
- Median household income: $52,995
- Total population: 63,149
32. Parma
- Median home value: $145,300
- Homes worth over $1 million: 0.2%
- Homeownership rate: 72.0%
- Median household income: $65,848
- Total population: 80,587
31. Huber Heights
- Median home value: $149,200
- Homes worth over $1 million: 0.2%
- Homeownership rate: 73.1%
- Median household income: $75,903
- Total population: 43,095
30. Fairborn
- Median home value: $154,800
- Homes worth over $1 million: 0.3%
- Homeownership rate: 48.6%
- Median household income: $53,783
- Total population: 34,494
29. Cuyahoga Falls
- Median home value: $160,400
- Homes worth over $1 million: 0.5%
- Homeownership rate: 62.1%
- Median household income: $67,922
- Total population: 50,916
28. Newark
- Median home value: $162,300
- Homes worth over $1 million: 0.1%
- Homeownership rate: 54.7%
- Median household income: $56,284
- Total population: 50,062
27. Lancaster
- Median home value: $163,900
- Homes worth over $1 million: 0.2%
- Homeownership rate: 57.4%
- Median household income: $52,716
- Total population: 40,616
26. Cleveland Heights
- Median home value: $164,400
- Homes worth over $1 million: 1.3%
- Homeownership rate: 58.6%
- Median household income: $69,155
- Total population: 45,002
25. Findlay
- Median home value: $169,000
- Homes worth over $1 million: 0.3%
- Homeownership rate: 56.7%
- Median household income: $54,986
- Total population: 40,408
24. Kettering
- Median home value: $174,300
- Homes worth over $1 million: 0.4%
- Homeownership rate: 64.1%
- Median household income: $69,818
- Total population: 57,707
23. North Olmsted
- Median home value: $191,400
- Homes worth over $1 million: 0.3%
- Homeownership rate: 77.2%
- Median household income: $81,768
- Total population: 32,244
22. Cincinnati
- Median home value: $192,000
- Homes worth over $1 million: 2.2%
- Homeownership rate: 39.3%
- Median household income: $49,191
- Total population: 308,870
21. Fairfield
- Median home value: $196,600
- Homes worth over $1 million: 0.1%
- Homeownership rate: 63.4%
- Median household income: $67,182
- Total population: 44,602
20. Bowling Green
- Median home value: $205,700
- Homes worth over $1 million: 0.4%
- Homeownership rate: 35.8%
- Median household income: $41,346
- Total population: 30,157
19. Columbus
- Median home value: $212,500
- Homes worth over $1 million: 0.6%
- Homeownership rate: 44.7%
- Median household income: $62,994
- Total population: 902,449
18. Mentor
- Median home value: $215,500
- Homes worth over $1 million: 0.5%
- Homeownership rate: 83.2%
- Median household income: $84,503
- Total population: 47,302
16. Brunswick
- Median home value: $217,200
- Homes worth over $1 million: 0.2%
- Homeownership rate: 73.4%
- Median household income: $81,780
- Total population: 35,304
16. Reynoldsburg
- Median home value: $217,200
- Homes worth over $1 million: 0.0%
- Homeownership rate: 63.0%
- Median household income: $68,778
- Total population: 40,926
15. Lakewood
- Median home value: $221,100
- Homes worth over $1 million: 1.3%
- Homeownership rate: 43.8%
- Median household income: $63,299
- Total population: 50,605
14. Stow
- Median home value: $227,400
- Homes worth over $1 million: 0.0%
- Homeownership rate: 71.3%
- Median household income: $89,805
- Total population: 34,459
13. North Ridgeville
- Median home value: $232,200
- Homes worth over $1 million: 1.0%
- Homeownership rate: 89.6%
- Median household income: $89,466
- Total population: 35,481
12. Beavercreek
- Median home value: $245,300
- Homes worth over $1 million: 0.6%
- Homeownership rate: 73.2%
- Median household income: $108,140
- Total population: 46,576
11. Delaware
- Median home value: $251,700
- Homes worth over $1 million: 0.3%
- Homeownership rate: 62.5%
- Median household income: $86,387
- Total population: 41,926
10. Strongsville
- Median home value: $259,200
- Homes worth over $1 million: 0.4%
- Homeownership rate: 82.6%
- Median household income: $101,176
- Total population: 46,165
9. Grove City
- Median home value: $262,800
- Homes worth over $1 million: 0.0%
- Homeownership rate: 70.8%
- Median household income: $84,765
- Total population: 41,423
8. North Royalton
- Median home value: $263,400
- Homes worth over $1 million: 0.8%
- Homeownership rate: 70.1%
- Median household income: $81,511
- Total population: 31,120
7. Gahanna
- Median home value: $298,800
- Homes worth over $1 million: 0.5%
- Homeownership rate: 70.4%
- Median household income: $104,555
- Total population: 35,529
6. Westlake
- Median home value: $310,600
- Homes worth over $1 million: 2.8%
- Homeownership rate: 72.1%
- Median household income: $103,658
- Total population: 34,027
5. Westerville
- Median home value: $320,500
- Homes worth over $1 million: 0.1%
- Homeownership rate: 75.3%
- Median household income: $103,617
- Total population: 38,911
4. Hilliard
- Median home value: $336,300
- Homes worth over $1 million: 0.2%
- Homeownership rate: 71.1%
- Median household income: $116,287
- Total population: 36,103
3. Mason
- Median home value: $375,000
- Homes worth over $1 million: 3.9%
- Homeownership rate: 78.4%
- Median household income: $121,082
- Total population: 34,768
2. Dublin
- Median home value: $478,400
- Homes worth over $1 million: 2.4%
- Homeownership rate: 76.8%
- Median household income: $158,363
- Total population: 48,893
1. Upper Arlington
- Median home value: $526,800
- Homes worth over $1 million: 8.5%
- Homeownership rate: 78.6%
- Median household income: $144,705
- Total population: 36,500
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