Affordability evidence
Parma, OH home values, income, and owner costs
A borrower-focused reading of the latest ACS value, income, and owner-cost evidence for Parma, OH.
Source: U.S. Census Bureau
Last updated . Article facts reviewed through this date. Time-sensitive figures show their own as-of dates.
The local figures answer the first question: In Parma, OH, the 2024 ACS reports a median owner-occupied home value of $170,100, median household income of $69,295, and median selected monthly owner costs of $1,337 for owners with a mortgage. For borrower planning, together, those three reference points can nevertheless help a borrower identify which search-price, income, and recurring-cost assumptions need current verification first. They remain separate medians, not the finances of one representative household, and the $1,337 measure combines recurring ownership expenses instead of real estate taxes alone. A useful affordability review starts with $170,100, $69,295, and $1,337, then replaces them with the borrower's documented income, cash, debts, property taxes, insurance, association charges, loan terms, and intended occupancy.
Parma, OH's $170,100 median home-value estimate is below the statewide $214,800 estimate, with a reported city-to-state gap of 20.8%. For borrower planning, that 20.8% gap is useful for showing that a statewide midpoint may be a poor substitute for a local search range in Parma, OH.