North Olmsted, Ohio Housing Market Prices
North Olmsted 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 142% above the Ohio median$337,163
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Median rent 10% above the Ohio median$1,140
Housing Market Overview
| Metric | North Olmsted | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $337,163 | $139,044 | $248,835 |
| Price Trend (Annual %) | 30.8% | 6.7% | 7.5% |
| Median Gross Rent | $1,140 | $1,033 | $1,407 |
| Rent Trend (Annual %) | 3.5% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in North Olmsted is about 142% higher than in Ohio. Rent is about 10% 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 North Olmsted, up about 30.8% and 3.5% a year respectively. Home prices are changing faster.
Median rent in North Olmsted rose about 33.5% between 2015 and 2024, from $854 to $1,140. Over the same span, rent in Ohio rose about 41.7%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in North Olmsted.
Buying the median-priced home in North Olmsted costs roughly 24.6 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 North Olmsted. The price-to-rent ratio in Ohio is about 11.2.
| Metric | North Olmsted | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $337,163 | $139,044 | $248,835 |
| Median Household Income | $84,003 | $71,509 | $80,455 |
| Price-to-Income Ratio | 4.0 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in North Olmsted rose about 113.2%, while median household income rose about 34.5% 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 | North Olmsted | Ohio Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 75.7% | 61.7% | 58.5% |
| Rental Rate | 20.2% | 30.1% | 31.2% |
| Vacancy Rate | 4.1% | 8.1% | 10.2% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
North Olmsted has a homeownership rate of 75.7%, higher than the Ohio average of 61.7%. Its housing vacancy rate is 4.1%, compared with 8.1% in Ohio.
Housing Stock
| Metric | North Olmsted | Ohio Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.33 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1968 | 1970 | 1978 |
| Median Number of Rooms | 6.4 | 5.9 | 5.5 |
The typical housing unit in North Olmsted was built around 1968. On average, 2.3 people live in a home with about 6.4 rooms, staying for about 17.0 years on average.
North Olmsted, OH Housing Compared With Nearby Cities
How North Olmsted, OH compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| North Olmsted, OH | 31,891 | $337,163 #2/2 | $1,140 #2/2 | 78.9% #1/2 |
| Westlake, OH | 34,104 | $381,914 | $1,570 | 73.1% |
Frequently Asked Questions
Common questions about the housing market in North Olmsted, Ohio.
What is the median home price in North Olmsted, Ohio?
The median home price in North Olmsted, Ohio is $337,163, higher than the Ohio average of $139,044.
What is the average home price in North Olmsted, Ohio?
The typical home price in North Olmsted, Ohio, reported as the median sale price, is $337,163. 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 North Olmsted, Ohio?
The median gross rent in North Olmsted, Ohio is $1,140 per month, higher than the Ohio average of $1,033.
What was the median gross rent in North Olmsted in 2020?
In 2020, the median gross rent in North Olmsted, Ohio was $964 per month.
What is the price-to-rent ratio in North Olmsted, Ohio?
The price-to-rent ratio in North Olmsted, Ohio is about 24.6, meaning it would take roughly 24.6 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 North Olmsted.
Are home prices or rent rising faster in North Olmsted, Ohio?
Both home prices and rent are rising in North Olmsted, up about 30.8% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in North Olmsted, Ohio?
75.7% of households in North Olmsted, Ohio own their home, higher than the Ohio average of 61.7%.
What is the vacancy rate in North Olmsted, Ohio?
The housing vacancy rate in North Olmsted, Ohio is 4.1%, lower than the Ohio average of 8.1%.
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