Parma, OH—44129
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Parma, OH
Home Price Trends — Parma, OH
As of Oct '25, the median home price in Parma, OH is $202,000, with a year-over-year change of 6.3%. This indicates that home prices in Parma, OH are increasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $202,000 | 6.3% |
| Single Family | $202,000 | 6.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $170,000 | 6.2% |
3 Bed | $202,000 | 6.9% |
4 Bed | $223,000 | 5.2% |
| 5 Bed | $229,000 | 5.5% |
% of Housing Stock
Rental Trends — Parma, OH
As of July '25, Rentcast reports the average rent in Parma, OH is $1,130, with a year-over-year rent change of 1.8%. Per bedroom, the median rent as of July '25 in Parma, OH is studios: $1,370, 1-bedrooms: $827, 2-bedrooms: $1,020, 3-bedrooms: $1,650, 4-bedrooms: $2,550. The most common rental property sizes in Parma, OH are 2-bedroom and 3-bedroom, accounting for 34.4% and 29.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $920 | $1,130 |
| Studio Rent | $999 | $1,370 |
| 1 Bed Rent | $805 | $827 |
| 2 Bed Rent | $1,020 | $1,020 |
| 3 Bed Rent | $1,600 | $1,650 |
| 4 Bed Rent | $2,550 | $2,550 |
% of Rental Stock
Property Listings — Parma, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Parma, OH is 23. This is a decrease of -11.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 41.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $222,000 | 3.0% |
Listing Count | 64 | -10.0% |
| Listings as % of Homes | 0.4% | -10.0% |
Days on Market | 23 | -11.0% |
Demographics — Parma, OH
As of the latest ACS Survey released in 2023, Parma, OH has a population of 28,600, which has increased by 1.2% over the past 5 years. Parma, OH is a moderately popular place for families, as children make up 15.7% of the population. The area has a poorly educated workforce, with 23.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,600 | 1.2% |
% Under 18 | 15.7% | -20.3% |
% Seniors | 19.7% | 17.3% |
% WFH | 8.1% | 252.2% |
% w/ College Degree | 23.5% | 3.5% |
As of the latest ACS Survey released in 2023, Parma, OH is a predominantly white area, with 75.5% of the population identifying as white. The white population has shrunk by 13.6% in the last 5 years. The second most common race or ethnicity in Parma, OH is hispanic, making up 12.9% of the population. Foreign-born residents account for 10.9% of the population in Parma, OH, and this percentage has increased by 58.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 75.5% | -13.6% |
% Black | 7.0% | 133.3% |
% Hispanic | 12.9% | 143.4% |
% Asian | 2.3% | 15.0% |
% Foreign Born | 10.9% | 58.0% |
Mortgage and Risk — Parma, OH
According to HUD data as of 2023, there were 629 mortgage originations in Parma, OH, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Parma, OH. Investor activity is low, as 3.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 629 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Parma, OH
As of 2024, the percent of homes in Parma, OH under the Section 8 program is 2.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Parma, OH, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 103 |
Total Units Section 8 | 102 |
% Rentals under Section 8 | 2.5% |
% Occupied Section 8 | 90.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $175 | $805 | $980 |
| 2 Bedroom | $170 | $1,020 | $1,190 |
| 3 Bedroom | -$70 | $1,600 | $1,530 |
| 4 Bedroom | -$910 | $2,550 | $1,640 |
Affordability — Parma, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.4 |
| Median Home Price | $202,000 |
| Median Household Income | $67,600 |