Parma, OH 44129 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Parma, OH—44129

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$201,000

6.5% YoY Growth

Household Income

$67,600

21.3% YoY Growth

Days on Market

33.0% Shorter YoY

Home Price Forecast

2.9%

Median Rent

$920

1.8% YoY Growth

1-Bed Rent

$805

6.8% YoY Growth

2-Bed Rent

$1,020

10.5% YoY Growth

3-Bed Rent

$1,600

2.5% YoY Growth

Other Zip Codes in Parma, OH

44134

Home Price Trends — Parma, OH

As of Dec '25, the median home price in Parma, OH is $201,000, with a year-over-year change of 6.5%. This indicates that home prices in Parma, OH are increasing. According to Zillow, the 1-year price projection is 2.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$201,000	6.5%
Single Family	$201,000	6.9%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

2.4%

1 Bedroom

27.3%

2 Bedrooms

34.4%

3 Bedrooms

29.7%

4 Bedrooms

5.1%

5+ Bedrooms

1.0%

Property Listings — Parma, OH

As of Dec '25, Realtor.com reports that the median days on market for a home in Parma, OH is 35. This is a decrease of -18.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$227,000	2.0%
Listing Count	55	-11.0%
Listings as % of Homes	0.4%	-11.0%
Days on Market	36	-33.0%

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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%

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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%

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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%

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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

Parma, OH—44129

Key Metrics at a Glance

Other Zip Codes in Parma, OH

Home Price Trends — Parma, OH

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Parma, OH

% of Rental Stock

Property Listings — Parma, OH

Demographics — Parma, OH

Race and Ethnicity

Mortgage and Risk — Parma, OH

Mortgages

Rentals and Section 8 — Parma, OH

Section 8 Market Size

Section 8 Opportunity

Affordability — Parma, OH

Home Price to Income Ratio

Parma, OH — ZIP Code Boundary Map

Nearby ZIP Codes

Parma, OH

Brooklyn, OH

Middleburg Heights, Parma Heights, OH

Old Brooklyn, Cleveland, OH

North Royalton, OH

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.4
Median Home Price	$201,000
Median Household Income	$67,600

Parma, OH—44129

Key Metrics at a Glance

Other Zip Codes in Parma, OH

Home Price Trends — Parma, OH

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Parma, OH

% of Rental Stock

Property Listings — Parma, OH

Demographics — Parma, OH

Race and Ethnicity

Mortgage and Risk — Parma, OH

Mortgages

Rentals and Section 8 — Parma, OH

Section 8 Market Size

Section 8 Opportunity

Affordability — Parma, OH

Home Price to Income Ratio

Parma, OH — ZIP Code Boundary Map

Nearby ZIP Codes

Parma, OH

Brooklyn, OH

Middleburg Heights, Parma Heights, OH

Old Brooklyn, Cleveland, OH

North Royalton, OH

Frequently Asked Questions

What is the average home price in Parma, OH 44129?

How have home prices in Parma, OH 44129 changed over the past year?

What is the home price projection for Parma, OH 44129?

What are the demographics of Parma, OH 44129?

How long does it take homes to sell in Parma, OH 44129?

What is the average rent price in Parma, OH 44129?