Westlake, Ohio Housing Market Prices
Westlake 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 175% above the Ohio median$381,914
-
Median rent 52% above the Ohio median$1,570
Housing Market Overview
| Metric | Westlake | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $381,914 | $139,044 | $248,835 |
| Price Trend (Annual %) | 11.9% | 6.7% | 7.5% |
| Median Gross Rent | $1,570 | $1,033 | $1,407 |
| Rent Trend (Annual %) | 5.0% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Westlake is about 175% higher than in Ohio. Rent is about 52% 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 Westlake, up about 11.9% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Westlake rose about 52.6% between 2015 and 2024, from $1,029 to $1,570. Over the same span, rent in Ohio rose about 41.7%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in Westlake.
Buying the median-priced home in Westlake costs roughly 20.3 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 Westlake. The price-to-rent ratio in Ohio is about 11.2.
| Metric | Westlake | Ohio Avg | US Average |
|---|---|---|---|
| Median Home Price | $381,914 | $139,044 | $248,835 |
| Median Household Income | $111,096 | $71,509 | $80,455 |
| Price-to-Income Ratio | 3.4 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Westlake rose about 209.3%, while median household income rose about 53.7% 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 | Westlake | Ohio Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.8% | 61.7% | 58.5% |
| Rental Rate | 24.9% | 30.1% | 31.2% |
| Vacancy Rate | 7.3% | 8.1% | 10.2% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Westlake has a homeownership rate of 67.8%, higher than the Ohio average of 61.7%. Its housing vacancy rate is 7.3%, compared with 8.1% in Ohio.
Housing Stock
| Metric | Westlake | Ohio Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1981 | 1970 | 1978 |
| Median Number of Rooms | 6.7 | 5.9 | 5.5 |
The typical housing unit in Westlake was built around 1981. On average, 2.3 people live in a home with about 6.7 rooms, staying for about 16.0 years on average.
Westlake, OH Housing Compared With Nearby Cities
How Westlake, OH compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Westlake, OH | 34,104 | $381,914 #1/3 | $1,570 #1/3 | 73.1% #2/3 |
| North Olmsted, OH | 31,891 | $337,163 | $1,140 | 78.9% |
| Rocky River, OH | 21,449 | $319,718 | $1,174 | 69.7% |
Frequently Asked Questions
Common questions about the housing market in Westlake, Ohio.
What is the median home price in Westlake, Ohio?
The median home price in Westlake, Ohio is $381,914, higher than the Ohio average of $139,044.
What is the average home price in Westlake, Ohio?
The typical home price in Westlake, Ohio, reported as the median sale price, is $381,914. 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 Westlake, Ohio?
The median gross rent in Westlake, Ohio is $1,570 per month, higher than the Ohio average of $1,033.
What was the median gross rent in Westlake in 2020?
In 2020, the median gross rent in Westlake, Ohio was $1,222 per month.
What is the price-to-rent ratio in Westlake, Ohio?
The price-to-rent ratio in Westlake, Ohio is about 20.3, meaning it would take roughly 20.3 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 Westlake.
Are home prices or rent rising faster in Westlake, Ohio?
Both home prices and rent are rising in Westlake, up about 11.9% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Westlake, Ohio?
67.8% of households in Westlake, Ohio own their home, higher than the Ohio average of 61.7%.
What is the vacancy rate in Westlake, Ohio?
The housing vacancy rate in Westlake, Ohio is 7.3%, 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 →