Mentor, Ohio Housing Market Prices
Mentor 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 14% above the Ohio median$158,867
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Median rent 20% above the Ohio median$1,238
Housing Market Overview
| Metric | Mentor | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $158,867 | $139,044 | $248,835 |
| Price Trend (Annual %) | 11.4% | 6.7% | 7.5% |
| Median Gross Rent | $1,238 | $1,033 | $1,407 |
| Rent Trend (Annual %) | 3.8% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mentor is about 14% higher than in Ohio. Rent is about 20% 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 Mentor, up about 11.4% and 3.8% a year respectively. Home prices are changing faster.
Median rent in Mentor rose about 39.9% between 2015 and 2024, from $885 to $1,238. Over the same span, rent in Ohio rose about 41.7%.
Affordability
On average, housing unit costs 1.8 yearly household incomes in Mentor.
Buying the median-priced home in Mentor costs roughly 10.7 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 Mentor. The price-to-rent ratio in Ohio is about 11.2.
| Metric | Mentor | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $158,867 | $139,044 | $248,835 |
| Median Household Income | $90,405 | $71,509 | $80,455 |
| Price-to-Income Ratio | 1.8 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Mentor rose about 56.8%, while median household income rose about 33.3% 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 | Mentor | Ohio Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 81.5% | 61.7% | 58.5% |
| Rental Rate | 14.8% | 30.1% | 31.2% |
| Vacancy Rate | 3.7% | 8.1% | 10.2% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Mentor has a homeownership rate of 81.5%, higher than the Ohio average of 61.7%. Its housing vacancy rate is 3.7%, compared with 8.1% in Ohio.
Housing Stock
| Metric | Mentor | Ohio Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1976 | 1970 | 1978 |
| Median Number of Rooms | 6.7 | 5.9 | 5.5 |
The typical housing unit in Mentor was built around 1976. On average, 2.3 people live in a home with about 6.7 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Mentor, Ohio.
What is the median home price in Mentor, Ohio?
The median home price in Mentor, Ohio is $158,867, higher than the Ohio average of $139,044.
What is the average home price in Mentor, Ohio?
The typical home price in Mentor, Ohio, reported as the median sale price, is $158,867. 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 Mentor, Ohio?
The median gross rent in Mentor, Ohio is $1,238 per month, higher than the Ohio average of $1,033.
What was the median gross rent in Mentor in 2020?
In 2020, the median gross rent in Mentor, Ohio was $957 per month.
What is the price-to-rent ratio in Mentor, Ohio?
The price-to-rent ratio in Mentor, Ohio is about 10.7, meaning it would take roughly 10.7 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 Mentor.
Are home prices or rent rising faster in Mentor, Ohio?
Both home prices and rent are rising in Mentor, up about 11.4% and 3.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Mentor, Ohio?
81.5% of households in Mentor, Ohio own their home, higher than the Ohio average of 61.7%.
What is the vacancy rate in Mentor, Ohio?
The housing vacancy rate in Mentor, Ohio is 3.7%, lower than the Ohio average of 8.1%.
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