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 | Fairfield County | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $201,562 | $130,696 | $242,182 |
| Price Trend (Annual %) | 4.8% | 6.8% | 8.2% |
| Median Gross Rent | $1,114 | $987 | $1,342 |
| Rent Trend (Annual %) | 4.6% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Fairfield County is about 54% higher than in Ohio. Rent is about 13% higher 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 Fairfield County, up about 4.8% and 4.6% a year respectively. Home prices are changing faster.
Median rent in Fairfield County rose about 39.5% between 2015 and 2023, from $798 to $1,114. Over the same span, rent in Ohio rose about 35.4%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Fairfield County.
Buying the median-priced home in Fairfield County costs roughly 15.1 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 Fairfield County. The price-to-rent ratio in Ohio is about 11.0.
| Metric | Fairfield County | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $201,562 | $130,696 | $242,182 |
| Median Household Income | $87,543 | $69,785 | $78,145 |
| Price-to-Income Ratio | 2.3 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Fairfield County rose about 37.5%, while median household income rose about 55.0% 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 | Fairfield County | Ohio Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.2% | 61.4% | 58.2% |
| Rental Rate | 24.4% | 30.2% | 31.3% |
| Vacancy Rate | 5.4% | 8.4% | 10.6% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Fairfield County has a homeownership rate of 70.2%, higher than the Ohio average of 61.4%. Its housing vacancy rate is 5.4%, compared with 8.4% in Ohio.
Housing Stock
| Metric | Fairfield County | Ohio Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.64 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1982 | 1970 | 1978 |
| Median Number of Rooms | 6.4 | 5.9 | 5.5 |
The typical housing unit in Fairfield County was built around 1982. On average, 2.6 people live in a home with about 6.4 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Fairfield County, Ohio.
What is the median home price in Fairfield County, Ohio?
The median home price in Fairfield County, Ohio is $201,562, higher than the Ohio average of $130,696.
What is the average home price in Fairfield 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 Fairfield County, Ohio?
The median gross rent in Fairfield County, Ohio is $1,114 per month, higher than the Ohio average of $987.
What was the median gross rent in Fairfield County in 2020?
In 2020, the median gross rent in Fairfield County, Ohio was $898 per month.
What is the price-to-rent ratio in Fairfield County, Ohio?
The price-to-rent ratio in Fairfield County, Ohio is about 15.1, meaning it would take roughly 15.1 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 Fairfield County.
Are home prices or rent rising faster in Fairfield County, Ohio?
Both home prices and rent are rising in Fairfield County, up about 4.8% and 4.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Fairfield County, Ohio?
70.2% of households in Fairfield County, Ohio own their home, higher than the Ohio average of 61.4%.
What is the vacancy rate in Fairfield County, Ohio?
The housing vacancy rate in Fairfield County, Ohio is 5.4%, lower than the Ohio average of 8.4%.