Solon, Ohio Housing Market Prices
Solon 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.
-
Median home price 455% above the Ohio median$771,253
-
Median rent 57% above the Ohio median$1,621
Housing Market Overview
| Metric | Solon | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $771,253 | $139,044 | $248,835 |
| Price Trend (Annual %) | 49.1% | 6.7% | 7.5% |
| Median Gross Rent | $1,621 | $1,033 | $1,407 |
| Rent Trend (Annual %) | 4.0% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Solon is about 455% higher than in Ohio. Rent is about 57% 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 Solon, up about 49.1% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Solon rose about 43.9% between 2015 and 2024, from $1,126 to $1,621. Over the same span, rent in Ohio rose about 41.7%.
Affordability
On average, housing unit costs 5.7 yearly household incomes in Solon.
Buying the median-priced home in Solon costs roughly 39.7 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 Solon. The price-to-rent ratio in Ohio is about 11.2.
| Metric | Solon | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $771,253 | $139,044 | $248,835 |
| Median Household Income | $134,847 | $71,509 | $80,455 |
| Price-to-Income Ratio | 5.7 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Solon rose about 215.3%, while median household income rose about 27.6% 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 | Solon | Ohio Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 81.1% | 61.7% | 58.5% |
| Rental Rate | 15.8% | 30.1% | 31.2% |
| Vacancy Rate | 3.1% | 8.1% | 10.2% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Solon has a homeownership rate of 81.1%, higher than the Ohio average of 61.7%. Its housing vacancy rate is 3.1%, compared with 8.1% in Ohio.
Housing Stock
| Metric | Solon | Ohio Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.69 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1981 | 1970 | 1978 |
| Median Number of Rooms | 7.7 | 5.9 | 5.5 |
The typical housing unit in Solon was built around 1981. On average, 2.7 people live in a home with about 7.7 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Solon, Ohio.
What is the median home price in Solon, Ohio?
The median home price in Solon, Ohio is $771,253, higher than the Ohio average of $139,044.
What is the average home price in Solon, Ohio?
The typical home price in Solon, Ohio, reported as the median sale price, is $771,253. 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 Solon, Ohio?
The median gross rent in Solon, Ohio is $1,621 per month, higher than the Ohio average of $1,033.
What was the median gross rent in Solon in 2020?
In 2020, the median gross rent in Solon, Ohio was $1,224 per month.
What is the price-to-rent ratio in Solon, Ohio?
The price-to-rent ratio in Solon, Ohio is about 39.7, meaning it would take roughly 39.7 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 Solon.
Are home prices or rent rising faster in Solon, Ohio?
Both home prices and rent are rising in Solon, up about 49.1% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Solon, Ohio?
81.1% of households in Solon, Ohio own their home, higher than the Ohio average of 61.7%.
What is the vacancy rate in Solon, Ohio?
The housing vacancy rate in Solon, Ohio is 3.1%, lower than the Ohio average of 8.1%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →