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 | Mahoning County | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $92,564 | $130,696 | $242,182 |
| Price Trend (Annual %) | 16.1% | 6.8% | 8.2% |
| Median Gross Rent | $775 | $987 | $1,342 |
| Rent Trend (Annual %) | 2.9% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mahoning County is about 29% lower than in Ohio. Rent is about 22% 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 Mahoning County, up about 16.1% and 2.9% a year respectively. Home prices are changing faster.
Median rent in Mahoning County rose about 23.6% between 2015 and 2023, from $627 to $775. Over the same span, rent in Ohio rose about 35.4%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Mahoning County.
Buying the median-priced home in Mahoning County costs roughly 10.0 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Mahoning County. The price-to-rent ratio in Ohio is about 11.0.
| Metric | Mahoning County | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $92,564 | $130,696 | $242,182 |
| Median Household Income | $56,067 | $69,785 | $78,145 |
| Price-to-Income Ratio | 1.7 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Mahoning County rose about 93.7%, while median household income rose about 43.4% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Mahoning County | Ohio Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.9% | 61.4% | 58.2% |
| Rental Rate | 27.0% | 30.2% | 31.3% |
| Vacancy Rate | 9.1% | 8.4% | 10.6% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Mahoning County has a homeownership rate of 63.9%, higher than the Ohio average of 61.4%. Its housing vacancy rate is 9.1%, compared with 8.4% in Ohio.
Housing Stock
| Metric | Mahoning County | Ohio Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.25 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1966 | 1970 | 1978 |
| Median Number of Rooms | 6.0 | 5.9 | 5.5 |
The typical housing unit in Mahoning County was built around 1966. On average, 2.3 people live in a home with about 6.0 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Mahoning County, Ohio.
What is the median home price in Mahoning County, Ohio?
The median home price in Mahoning County, Ohio is $92,564, lower than the Ohio average of $130,696.
What is the average home price in Mahoning 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 Mahoning County, Ohio?
The median gross rent in Mahoning County, Ohio is $775 per month, lower than the Ohio average of $987.
What was the median gross rent in Mahoning County in 2020?
In 2020, the median gross rent in Mahoning County, Ohio was $683 per month.
What is the price-to-rent ratio in Mahoning County, Ohio?
The price-to-rent ratio in Mahoning County, Ohio is about 10.0, meaning it would take roughly 10.0 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Mahoning County.
Are home prices or rent rising faster in Mahoning County, Ohio?
Both home prices and rent are rising in Mahoning County, up about 16.1% and 2.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Mahoning County, Ohio?
63.9% of households in Mahoning County, Ohio own their home, higher than the Ohio average of 61.4%.
What is the vacancy rate in Mahoning County, Ohio?
The housing vacancy rate in Mahoning County, Ohio is 9.1%, higher than the Ohio average of 8.4%.