Painesville, OH—44077
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Painesville, OH
As of Oct '25, the median home price in Painesville, OH is $252,000, with a year-over-year change of 4.3%. This indicates that home prices in Painesville, OH are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $252,000 | 4.3% |
| Single Family | $265,000 | 4.7% |
| Condos | $221,000 | 4.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $123,000 | 3.4% |
2 Bed | $172,000 | 5.5% |
3 Bed | $238,000 | 4.4% |
4 Bed | $358,000 | 3.8% |
| 5 Bed | $434,000 | 3.8% |
% of Housing Stock
Rental Trends — Painesville, OH
As of July '25, Rentcast reports the average rent in Painesville, OH is $1,310, with a year-over-year rent change of -16.0%. Per bedroom, the median rent as of July '25 in Painesville, OH is 1-bedrooms: $967, 2-bedrooms: $1,300, 3-bedrooms: $1,650. The most common rental property sizes in Painesville, OH are 2-bedroom and 3-bedroom, accounting for 45.1% and 28.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,310 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $890 | $967 |
| 2 Bed Rent | $1,080 | $1,300 |
| 3 Bed Rent | $1,590 | $1,650 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Painesville, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Painesville, OH is 36. This is a increase of 7.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $275,000 | -10.0% |
Listing Count | 192 | 25.0% |
| Listings as % of Homes | 0.5% | 25.0% |
Days on Market | 36 | 7.0% |
Demographics — Painesville, OH
As of the latest ACS Survey released in 2023, Painesville, OH has a population of 57,900, which has increased by 2.8% over the past 5 years. Painesville, OH is a moderately popular place for families, as children make up 22.1% of the population. The area has a moderately educated workforce, with 29.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 57,900 | 2.8% |
% Under 18 | 22.1% | -6.0% |
% Seniors | 18.8% | 19.7% |
% WFH | 11.7% | 165.9% |
% w/ College Degree | 29.3% | 9.7% |
As of the latest ACS Survey released in 2023, Painesville, OH is a predominantly white area, with 78.3% of the population identifying as white. The white population has shrunk by 2.1% in the last 5 years. The second most common race or ethnicity in Painesville, OH is hispanic, making up 11.9% of the population. Foreign-born residents account for 6.4% of the population in Painesville, OH, and this percentage has decreased by 7.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 78.3% | -2.1% |
% Black | 5.4% | -3.6% |
% Hispanic | 11.9% | 5.3% |
% Asian | 1.1% | 57.1% |
% Foreign Born | 6.4% | -7.2% |
Mortgage and Risk — Painesville, OH
According to HUD data as of 2023, there were 1255 mortgage originations in Painesville, OH, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Painesville, OH. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,255 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Painesville, OH
Painesville, OH lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 988 |
Total Units Section 8 | 988 |
% Rentals under Section 8 | 15.7% |
% Occupied Section 8 | 77.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $70 | $890 | $960 |
| 2 Bedroom | $90 | $1,080 | $1,170 |
| 3 Bedroom | -$90 | $1,590 | $1,500 |
| 4 Bedroom | N/A | N/A | $1,610 |
Affordability — Painesville, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $252,000 |
| Median Household Income | $80,700 |