Shaker Heights, Ohio Housing Market Prices
Shaker 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 11% above the Ohio median$155,000
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Median rent 13% above the Ohio median$1,168
Housing Market Overview
| Metric | Shaker Heights | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $155,000 | $139,044 | $248,835 |
| Price Trend (Annual %) | 5.3% | 6.7% | 7.5% |
| Median Gross Rent | $1,168 | $1,033 | $1,407 |
| Rent Trend (Annual %) | 2.7% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Shaker Heights is about 11% higher than in Ohio. Rent is about 13% 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 Shaker Heights, up about 5.3% and 2.7% a year respectively. Home prices are changing faster.
Median rent in Shaker Heights rose about 25.0% between 2015 and 2024, from $934 to $1,168. Over the same span, rent in Ohio rose about 41.7%.
Affordability
On average, housing unit costs 1.5 yearly household incomes in Shaker Heights.
Buying the median-priced home in Shaker Heights costs roughly 11.1 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 Shaker Heights. The price-to-rent ratio in Ohio is about 11.2.
| Metric | Shaker Heights | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $155,000 | $139,044 | $248,835 |
| Median Household Income | $104,406 | $71,509 | $80,455 |
| Price-to-Income Ratio | 1.5 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Shaker Heights rose about 12.3%, while median household income rose about 29.1% between 2009 and 2025 — 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 | Shaker Heights | Ohio Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.4% | 61.7% | 58.5% |
| Rental Rate | 36.4% | 30.1% | 31.2% |
| Vacancy Rate | 8.2% | 8.1% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Shaker Heights has a homeownership rate of 55.4%, lower than the Ohio average of 61.7%. Its housing vacancy rate is 8.2%, compared with 8.1% in Ohio.
Housing Stock
| Metric | Shaker Heights | Ohio Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.24 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1951 | 1970 | 1978 |
| Median Number of Rooms | 6.9 | 5.9 | 5.5 |
The typical housing unit in Shaker Heights was built around 1951. On average, 2.2 people live in a home with about 6.9 rooms, staying for about 13.0 years on average.
Shaker Heights, OH Housing Compared With Nearby Cities
How Shaker Heights, OH compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Shaker Heights, OH | 28,870 | $155,000 #2/2 | $1,168 #2/2 | 60.4% #1/2 |
| Cleveland Heights, OH | 44,352 | $163,355 | $1,215 | 58.1% |
Frequently Asked Questions
Common questions about the housing market in Shaker Heights, Ohio.
What is the median home price in Shaker Heights, Ohio?
The median home price in Shaker Heights, Ohio is $155,000, higher than the Ohio average of $139,044.
What is the average home price in Shaker Heights, Ohio?
The typical home price in Shaker Heights, Ohio, reported as the median sale price, is $155,000. 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 Shaker Heights, Ohio?
The median gross rent in Shaker Heights, Ohio is $1,168 per month, higher than the Ohio average of $1,033.
What was the median gross rent in Shaker Heights in 2020?
In 2020, the median gross rent in Shaker Heights, Ohio was $1,012 per month.
What is the price-to-rent ratio in Shaker Heights, Ohio?
The price-to-rent ratio in Shaker Heights, Ohio is about 11.1, meaning it would take roughly 11.1 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 Shaker Heights.
Are home prices or rent rising faster in Shaker Heights, Ohio?
Both home prices and rent are rising in Shaker Heights, up about 5.3% and 2.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Shaker Heights, Ohio?
55.4% of households in Shaker Heights, Ohio own their home, lower than the Ohio average of 61.7%.
What is the vacancy rate in Shaker Heights, Ohio?
The housing vacancy rate in Shaker Heights, Ohio is 8.2%, higher than the Ohio average of 8.1%.
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