The city of Parma Heights, OH is an excellent place for housing. The median value of homes in the area is $166,300, which is significantly lower than the national median value of $338,100. In addition to the lower cost of living, the area also has a higher rate of appreciation compared to the national average. The US 1 year House Appreciation rate is 8.27%, while the House 1 year appreciation rate in Parma Heights is 8.35%. This shows that housing prices in Parma Heights are increasing at a faster rate than in most other areas across the country.
The median home cost in Parma Heights is $166,300. Home appreciation the last 10 years has been 79.6%. Home Appreciation in Parma Heights is up 12.6%.
Average Age of Homes
- The median age of Parma Heights real estate is 57 years old
The Rental Market in Parma Heights
- Renters make up 41.3% of the Parma Heights population
- 1.5% of houses and apartments in Parma Heights, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.