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 | Noble County | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $625,000 | $130,696 | $242,182 |
| Price Trend (Annual %) | 40.3% | 6.8% | 8.2% |
| Median Gross Rent | $730 | $987 | $1,342 |
| Rent Trend (Annual %) | 2.8% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Noble County is about 378% higher than in Ohio. Rent is about 26% 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 Noble County, up about 40.3% and 2.8% a year respectively. Home prices are changing faster.
Median rent in Noble County rose about 22.8% between 2015 and 2023, from $594 to $730. Over the same span, rent in Ohio rose about 35.4%.
Affordability
On average, housing unit costs 11.2 yearly household incomes in Noble County.
Buying the median-priced home in Noble County costs roughly 71.4 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Noble County. The price-to-rent ratio in Ohio is about 11.0.
| Metric | Noble County | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $625,000 | $130,696 | $242,182 |
| Median Household Income | $55,779 | $69,785 | $78,145 |
| Price-to-Income Ratio | 11.2 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Noble County rose about 257.1%, while median household income rose about 32.2% 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 | Noble County | Ohio Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.8% | 61.4% | 58.2% |
| Rental Rate | 14.3% | 30.2% | 31.3% |
| Vacancy Rate | 20.9% | 8.4% | 10.6% |
| Median Tenure (years) | 23.0 | 16.0 | 15.0 |
| Median Year Moved In | 2003 | 2010 | 2011 |
Noble County has a homeownership rate of 64.8%, higher than the Ohio average of 61.4%. Its housing vacancy rate is 20.9%, compared with 8.4% in Ohio.
Housing Stock
| Metric | Noble County | Ohio Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.62 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1974 | 1970 | 1978 |
| Median Number of Rooms | 5.9 | 5.9 | 5.5 |
The typical housing unit in Noble County was built around 1974. On average, 2.6 people live in a home with about 5.9 rooms, staying for about 23.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Noble County, Ohio.
What is the median home price in Noble County, Ohio?
The median home price in Noble County, Ohio is $625,000, higher than the Ohio average of $130,696.
What is the average home price in Noble 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 Noble County, Ohio?
The median gross rent in Noble County, Ohio is $730 per month, lower than the Ohio average of $987.
What was the median gross rent in Noble County in 2020?
In 2020, the median gross rent in Noble County, Ohio was $622 per month.
What is the price-to-rent ratio in Noble County, Ohio?
The price-to-rent ratio in Noble County, Ohio is about 71.4, meaning it would take roughly 71.4 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Noble County.
Are home prices or rent rising faster in Noble County, Ohio?
Both home prices and rent are rising in Noble County, up about 40.3% and 2.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Noble County, Ohio?
64.8% of households in Noble County, Ohio own their home, higher than the Ohio average of 61.4%.
What is the vacancy rate in Noble County, Ohio?
The housing vacancy rate in Noble County, Ohio is 20.9%, higher than the Ohio average of 8.4%.