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 | Meigs County | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $78,720 | $130,696 | $242,182 |
| Price Trend (Annual %) | 4.2% | 6.8% | 8.2% |
| Median Gross Rent | $704 | $987 | $1,342 |
| Rent Trend (Annual %) | 2.7% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Meigs County is about 40% lower than in Ohio. Rent is about 29% 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 Meigs County, up about 4.2% and 2.7% a year respectively. Home prices are changing faster.
Median rent in Meigs County rose about 30.4% between 2015 and 2023, from $540 to $704. Over the same span, rent in Ohio rose about 35.4%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Meigs County.
Buying the median-priced home in Meigs County costs roughly 9.3 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 Meigs County. The price-to-rent ratio in Ohio is about 11.0.
| Metric | Meigs County | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $78,720 | $130,696 | $242,182 |
| Median Household Income | $46,765 | $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 Meigs County fell about 8.0%, while median household income rose about 38.1% 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 | Meigs County | Ohio Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.7% | 61.4% | 58.2% |
| Rental Rate | 20.4% | 30.2% | 31.3% |
| Vacancy Rate | 16.8% | 8.4% | 10.6% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Meigs County has a homeownership rate of 62.7%, higher than the Ohio average of 61.4%. Its housing vacancy rate is 16.8%, compared with 8.4% in Ohio.
Housing Stock
| Metric | Meigs County | Ohio Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.46 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1976 | 1970 | 1978 |
| Median Number of Rooms | 5.6 | 5.9 | 5.5 |
The typical housing unit in Meigs County was built around 1976. On average, 2.5 people live in a home with about 5.6 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Meigs County, Ohio.
What is the median home price in Meigs County, Ohio?
The median home price in Meigs County, Ohio is $78,720, lower than the Ohio average of $130,696.
What is the average home price in Meigs 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 Meigs County, Ohio?
The median gross rent in Meigs County, Ohio is $704 per month, lower than the Ohio average of $987.
What was the median gross rent in Meigs County in 2020?
In 2020, the median gross rent in Meigs County, Ohio was $632 per month.
What is the price-to-rent ratio in Meigs County, Ohio?
The price-to-rent ratio in Meigs County, Ohio is about 9.3, meaning it would take roughly 9.3 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 Meigs County.
Are home prices or rent rising faster in Meigs County, Ohio?
Both home prices and rent are rising in Meigs County, up about 4.2% and 2.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Meigs County, Ohio?
62.7% of households in Meigs County, Ohio own their home, higher than the Ohio average of 61.4%.
What is the vacancy rate in Meigs County, Ohio?
The housing vacancy rate in Meigs County, Ohio is 16.8%, higher than the Ohio average of 8.4%.