Mayfield Heights, Ohio Housing Market Prices
Mayfield Heights Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 47% above the Ohio median$205,000
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Median rent 9% above the Ohio median$1,128
Housing Market Overview
| Metric | Mayfield Heights | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $205,000 | $139,044 | $248,835 |
| Price Trend (Annual %) | 16.7% | 6.7% | 7.5% |
| Median Gross Rent | $1,128 | $1,033 | $1,407 |
| Rent Trend (Annual %) | 3.5% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mayfield Heights is about 47% higher than in Ohio. Rent is about 9% higher than the Ohio average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Mayfield Heights, up about 16.7% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Mayfield Heights rose about 32.7% between 2015 and 2024, from $850 to $1,128. Over the same span, rent in Ohio rose about 41.7%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Mayfield Heights.
Buying the median-priced home in Mayfield Heights 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 Mayfield Heights. The price-to-rent ratio in Ohio is about 11.2.
| Metric | Mayfield Heights | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $205,000 | $139,044 | $248,835 |
| Median Household Income | $65,827 | $71,509 | $80,455 |
| Price-to-Income Ratio | 3.1 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Mayfield Heights rose about 134.3%, while median household income rose about 37.7% between 2009 and 2025 — 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 | Mayfield Heights | Ohio Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.7% | 61.7% | 58.5% |
| Rental Rate | 49.7% | 30.1% | 31.2% |
| Vacancy Rate | 2.6% | 8.1% | 10.2% |
| Median Tenure (years) | 11.0 | 16.0 | 15.0 |
| Median Year Moved In | 2015 | 2010 | 2011 |
Mayfield Heights has a homeownership rate of 47.7%, lower than the Ohio average of 61.7%. Its housing vacancy rate is 2.6%, compared with 8.1% in Ohio.
Housing Stock
| Metric | Mayfield Heights | Ohio Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.92 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1967 | 1970 | 1978 |
| Median Number of Rooms | 4.9 | 5.9 | 5.5 |
The typical housing unit in Mayfield Heights was built around 1967. On average, 1.9 people live in a home with about 4.9 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Mayfield Heights, Ohio.
What is the median home price in Mayfield Heights, Ohio?
The median home price in Mayfield Heights, Ohio is $205,000, higher than the Ohio average of $139,044.
What is the average home price in Mayfield Heights, Ohio?
The typical home price in Mayfield Heights, Ohio, reported as the median sale price, is $205,000. 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 Mayfield Heights, Ohio?
The median gross rent in Mayfield Heights, Ohio is $1,128 per month, higher than the Ohio average of $1,033.
What was the median gross rent in Mayfield Heights in 2020?
In 2020, the median gross rent in Mayfield Heights, Ohio was $941 per month.
What is the price-to-rent ratio in Mayfield Heights, Ohio?
The price-to-rent ratio in Mayfield Heights, 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 Mayfield Heights.
Are home prices or rent rising faster in Mayfield Heights, Ohio?
Both home prices and rent are rising in Mayfield Heights, up about 16.7% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Mayfield Heights, Ohio?
47.7% of households in Mayfield Heights, Ohio own their home, lower than the Ohio average of 61.7%.
What is the vacancy rate in Mayfield Heights, Ohio?
The housing vacancy rate in Mayfield Heights, Ohio is 2.6%, lower than the Ohio average of 8.1%.
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