Home prices have surged in the U.S. in recent years. Driven by rising demand and supply constraints during the pandemic, the median home sale price spiked by nearly 50% from the second quarter of 2020 to Q3 in 2022. While the sale price of a typical American home has fallen in recent months since, housing prices remain at historic highs.
Not only have home values soared, but borrowing costs for home buyers have also climbed. The average interest rate on a 30-year fixed mortgage has been above 6% since September 2022, a high not seen in nearly a decade and a half. In a market defined by high prices and high mortgage rates, homeownership has become prohibitively expensive for a large number of Americans.
Still, housing prices are also subject to a number of factors that can be isolated from broader, nationwide market trends — and location is one of them. Two homes that are virtually identical can vary in price by hundreds of thousands of dollars, depending on where they are. And for prospective homeowners on a budget, some Ohio cities are far more affordable than others.
According to five-year estimates from the U.S. Census Bureau’s 2022 American Community Survey, the typical home in Ohio is worth $183,300. But across the 50 cities, towns, and unincorporated communities in the state with populations of at least 30,000, median home values range from less than $55,000 to over $500,000.
In any local market, home prices are often a reflection of what residents can afford. In Ohio, many of the least expensive cities for homebuyers are not high-income areas. Of the 50 Ohio cities with available data from the ACS, 27 have a median home value that is less than the statewide median. In all but four of these places, the typical household earns less than the statewide median household income of $66,990. Similarly, most of Ohio’s more expensive housing markets have higher earning populations.
These are the cheapest and most expensive housing markets in Ohio.
50. Youngstown
Source: Sean Pavone / iStock via Getty Images
- Median home value: $54,900
- Homes worth over $1 million: 0.2%
- Homeownership rate: 56.1%
- Median household income: $34,295
- Total population: 60,048
49. Warren
Source: drgbb / Flickr
- Median home value: $74,300
- Homes worth over $1 million: 0.0%
- Homeownership rate: 54.7%
- Median household income: $33,296
- Total population: 39,204
47. Canton
Source: benkrut / iStock via Getty Images
- Median home value: $86,200
- Homes worth over $1 million: 0.2%
- Homeownership rate: 48.2%
- Median household income: $37,627
- Total population: 70,589
47. Dayton
Source: Nicholas Smith / iStock via Getty Images
- Median home value: $86,200
- Homes worth over $1 million: 0.3%
- Homeownership rate: 48.4%
- Median household income: $41,443
- Total population: 137,305
46. Cleveland
Source: ungvar / Shutterstock.com
- Median home value: $87,400
- Homes worth over $1 million: 0.4%
- Homeownership rate: 40.9%
- Median household income: $37,271
- Total population: 370,365
45. Lima
Source: wclaphotography / Flickr
- Median home value: $87,600
- Homes worth over $1 million: 0.0%
- Homeownership rate: 46.6%
- Median household income: $41,824
- Total population: 35,555
44. Marion
- Median home value: $97,200
- Homes worth over $1 million: 0.0%
- Homeownership rate: 55.1%
- Median household income: $44,879
- Total population: 35,927
43. Mansfield
Source: formulanone / Flickr
- Median home value: $97,300
- Homes worth over $1 million: 0.5%
- Homeownership rate: 50.2%
- Median household income: $40,996
- Total population: 47,630
42. Toledo
Source: Sean Pavone / iStock via Getty Images
- Median home value: $98,800
- Homes worth over $1 million: 0.4%
- Homeownership rate: 52.4%
- Median household income: $45,405
- Total population: 269,962
41. Akron
Source: ChrisBoswell / iStock via Getty Images
- Median home value: $99,700
- Homes worth over $1 million: 0.0%
- Homeownership rate: 50.0%
- Median household income: $46,596
- Total population: 190,273
40. Springfield
Source: Rob Hat / Wikimedia Commons
- Median home value: $102,100
- Homes worth over $1 million: 0.0%
- Homeownership rate: 51.4%
- Median household income: $45,113
- Total population: 58,645
39. Euclid
Source: stu_spivack / Wikimedia Commons
- Median home value: $105,000
- Homes worth over $1 million: 0.1%
- Homeownership rate: 43.7%
- Median household income: $45,018
- Total population: 49,279
38. Lorain
Source: 140641142@N05 / Flickr / Public Domain
- Median home value: $115,200
- Homes worth over $1 million: 0.2%
- Homeownership rate: 55.1%
- Median household income: $46,562
- Total population: 65,138
37. Austintown
Source: roadgeek / Flickr
- Median home value: $122,000
- Homes worth over $1 million: 0.1%
- Homeownership rate: 64.3%
- Median household income: $50,241
- Total population: 30,397
36. Massillon
Source: Feverpitched / iStock via Getty Images
- Median home value: $128,900
- Homes worth over $1 million: 0.6%
- Homeownership rate: 61.9%
- Median household income: $53,699
- Total population: 32,179
35. Elyria
Source: Tyler Tomasek / iStock via Getty Images
- Median home value: $131,000
- Homes worth over $1 million: 0.3%
- Homeownership rate: 58.4%
- Median household income: $49,569
- Total population: 52,780
34. Middletown
Source: Public Domain / Wikimedia Commons
- Median home value: $135,200
- Homes worth over $1 million: 0.3%
- Homeownership rate: 53.8%
- Median household income: $50,457
- Total population: 50,514
33. Hamilton
Source: 5chw4r7z / Flickr
- Median home value: $141,300
- Homes worth over $1 million: 0.4%
- Homeownership rate: 54.6%
- Median household income: $52,995
- Total population: 63,149
32. Parma
Source: SondraP / iStock via Getty Images
- Median home value: $145,300
- Homes worth over $1 million: 0.2%
- Homeownership rate: 72.0%
- Median household income: $65,848
- Total population: 80,587
31. Huber Heights
Source: StanRohrer / iStock via Getty Images
- Median home value: $149,200
- Homes worth over $1 million: 0.2%
- Homeownership rate: 73.1%
- Median household income: $75,903
- Total population: 43,095
30. Fairborn
Source: fstop123 / iStock via Getty Images
- Median home value: $154,800
- Homes worth over $1 million: 0.3%
- Homeownership rate: 48.6%
- Median household income: $53,783
- Total population: 34,494
29. Cuyahoga Falls
Source: cak757 / Flickr
- Median home value: $160,400
- Homes worth over $1 million: 0.5%
- Homeownership rate: 62.1%
- Median household income: $67,922
- Total population: 50,916
28. Newark
- Median home value: $162,300
- Homes worth over $1 million: 0.1%
- Homeownership rate: 54.7%
- Median household income: $56,284
- Total population: 50,062
27. Lancaster
Source: mnm71 / iStock via Getty Images
- Median home value: $163,900
- Homes worth over $1 million: 0.2%
- Homeownership rate: 57.4%
- Median household income: $52,716
- Total population: 40,616
26. Cleveland Heights
- Median home value: $164,400
- Homes worth over $1 million: 1.3%
- Homeownership rate: 58.6%
- Median household income: $69,155
- Total population: 45,002
25. Findlay
Source: Public Domain / Wikimedia Commons
- Median home value: $169,000
- Homes worth over $1 million: 0.3%
- Homeownership rate: 56.7%
- Median household income: $54,986
- Total population: 40,408
24. Kettering
Source: S. Badz / Getty Images Sport via Getty Images
- Median home value: $174,300
- Homes worth over $1 million: 0.4%
- Homeownership rate: 64.1%
- Median household income: $69,818
- Total population: 57,707
23. North Olmsted
Source: cak757 / Flickr
- Median home value: $191,400
- Homes worth over $1 million: 0.3%
- Homeownership rate: 77.2%
- Median household income: $81,768
- Total population: 32,244
22. Cincinnati
Source: dougtone / Flickr
- Median home value: $192,000
- Homes worth over $1 million: 2.2%
- Homeownership rate: 39.3%
- Median household income: $49,191
- Total population: 308,870
21. Fairfield
Source: Public Domain / Wikimedia Commons
- Median home value: $196,600
- Homes worth over $1 million: 0.1%
- Homeownership rate: 63.4%
- Median household income: $67,182
- Total population: 44,602
20. Bowling Green
Source: smontgom65 / iStock Editorial via Getty Images
- Median home value: $205,700
- Homes worth over $1 million: 0.4%
- Homeownership rate: 35.8%
- Median household income: $41,346
- Total population: 30,157
19. Columbus
Source: espiegle / iStock via Getty Images
- Median home value: $212,500
- Homes worth over $1 million: 0.6%
- Homeownership rate: 44.7%
- Median household income: $62,994
- Total population: 902,449
18. Mentor
- Median home value: $215,500
- Homes worth over $1 million: 0.5%
- Homeownership rate: 83.2%
- Median household income: $84,503
- Total population: 47,302
16. Brunswick
Source: 2022 Getty Images / Getty Images News via Getty Images
- Median home value: $217,200
- Homes worth over $1 million: 0.2%
- Homeownership rate: 73.4%
- Median household income: $81,780
- Total population: 35,304
16. Reynoldsburg
Source: neighborhoods / Flickr
- Median home value: $217,200
- Homes worth over $1 million: 0.0%
- Homeownership rate: 63.0%
- Median household income: $68,778
- Total population: 40,926
15. Lakewood
Source: Joshua Rothhaas / Wikimedia Commons
- Median home value: $221,100
- Homes worth over $1 million: 1.3%
- Homeownership rate: 43.8%
- Median household income: $63,299
- Total population: 50,605
14. Stow
- Median home value: $227,400
- Homes worth over $1 million: 0.0%
- Homeownership rate: 71.3%
- Median household income: $89,805
- Total population: 34,459
13. North Ridgeville
Source: ronnie44052 / Flickr
- Median home value: $232,200
- Homes worth over $1 million: 1.0%
- Homeownership rate: 89.6%
- Median household income: $89,466
- Total population: 35,481
12. Beavercreek
Source: iip-photo-archive / Flickr
- Median home value: $245,300
- Homes worth over $1 million: 0.6%
- Homeownership rate: 73.2%
- Median household income: $108,140
- Total population: 46,576
11. Delaware
Source: davidwilson1949 / Flickr
- Median home value: $251,700
- Homes worth over $1 million: 0.3%
- Homeownership rate: 62.5%
- Median household income: $86,387
- Total population: 41,926
10. Strongsville
Source: KevinKlimaPhoto / iStock via Getty Images
- Median home value: $259,200
- Homes worth over $1 million: 0.4%
- Homeownership rate: 82.6%
- Median household income: $101,176
- Total population: 46,165
9. Grove City
Source: Stockbyte / Stockbyte via Getty Images
- Median home value: $262,800
- Homes worth over $1 million: 0.0%
- Homeownership rate: 70.8%
- Median household income: $84,765
- Total population: 41,423
8. North Royalton
Source: J.C. Marciniak / iStock via Getty Images
- Median home value: $263,400
- Homes worth over $1 million: 0.8%
- Homeownership rate: 70.1%
- Median household income: $81,511
- Total population: 31,120
7. Gahanna
Source: Michael Vi / iStock via Getty Images
- Median home value: $298,800
- Homes worth over $1 million: 0.5%
- Homeownership rate: 70.4%
- Median household income: $104,555
- Total population: 35,529
6. Westlake
Source: 2015 Getty Images / Getty Images Sport via Getty Images
- Median home value: $310,600
- Homes worth over $1 million: 2.8%
- Homeownership rate: 72.1%
- Median household income: $103,658
- Total population: 34,027
5. Westerville
Source: TrentGarverick / iStock via Getty Images
- Median home value: $320,500
- Homes worth over $1 million: 0.1%
- Homeownership rate: 75.3%
- Median household income: $103,617
- Total population: 38,911
4. Hilliard
Source: juggernautco / Flickr
- Median home value: $336,300
- Homes worth over $1 million: 0.2%
- Homeownership rate: 71.1%
- Median household income: $116,287
- Total population: 36,103
3. Mason
Source: Nyttend / Public Domain / Wikimedia Commons
- Median home value: $375,000
- Homes worth over $1 million: 3.9%
- Homeownership rate: 78.4%
- Median household income: $121,082
- Total population: 34,768
2. Dublin
Source: Kenneth_Keifer / iStock via Getty Images
- Median home value: $478,400
- Homes worth over $1 million: 2.4%
- Homeownership rate: 76.8%
- Median household income: $158,363
- Total population: 48,893
1. Upper Arlington
Source: Postdlf / Wikimedia Commons
- Median home value: $526,800
- Homes worth over $1 million: 8.5%
- Homeownership rate: 78.6%
- Median household income: $144,705
- Total population: 36,500
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
