Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Carroll County | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $164,642 | $130,696 | $242,182 |
| Price Trend (Annual %) | 8.2% | 6.8% | 8.2% |
| Median Gross Rent | $779 | $987 | $1,342 |
| Rent Trend (Annual %) | 3.1% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Carroll County is about 26% higher than in Ohio. Rent is about 21% lower than the Ohio average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Carroll County, up about 8.2% and 3.1% a year respectively. Home prices are changing faster.
Median rent in Carroll County rose about 30.3% between 2015 and 2023, from $598 to $779. Over the same span, rent in Ohio rose about 35.4%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Carroll County.
Buying the median-priced home in Carroll County costs roughly 17.6 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Carroll County. The price-to-rent ratio in Ohio is about 11.0.
| Metric | Carroll County | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $164,642 | $130,696 | $242,182 |
| Median Household Income | $63,669 | $69,785 | $78,145 |
| Price-to-Income Ratio | 2.6 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Carroll County rose about 20.4%, while median household income rose about 50.2% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Carroll County | Ohio Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.8% | 61.4% | 58.2% |
| Rental Rate | 18.9% | 30.2% | 31.3% |
| Vacancy Rate | 14.3% | 8.4% | 10.6% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Carroll County has a homeownership rate of 66.8%, higher than the Ohio average of 61.4%. Its housing vacancy rate is 14.3%, compared with 8.4% in Ohio.
Housing Stock
| Metric | Carroll County | Ohio Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.30 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1968 | 1970 | 1978 |
| Median Number of Rooms | 5.9 | 5.9 | 5.5 |
The typical housing unit in Carroll County was built around 1968. On average, 2.3 people live in a home with about 5.9 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Carroll County, Ohio.
What is the median home price in Carroll County, Ohio?
The median home price in Carroll County, Ohio is $164,642, higher than the Ohio average of $130,696.
What is the average home price in Carroll County, Ohio?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Carroll County, Ohio?
The median gross rent in Carroll County, Ohio is $779 per month, lower than the Ohio average of $987.
What was the median gross rent in Carroll County in 2020?
In 2020, the median gross rent in Carroll County, Ohio was $713 per month.
What is the price-to-rent ratio in Carroll County, Ohio?
The price-to-rent ratio in Carroll County, Ohio is about 17.6, meaning it would take roughly 17.6 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Carroll County.
Are home prices or rent rising faster in Carroll County, Ohio?
Both home prices and rent are rising in Carroll County, up about 8.2% and 3.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Carroll County, Ohio?
66.8% of households in Carroll County, Ohio own their home, higher than the Ohio average of 61.4%.
What is the vacancy rate in Carroll County, Ohio?
The housing vacancy rate in Carroll County, Ohio is 14.3%, higher than the Ohio average of 8.4%.