Parma, OH—44134
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 $203,000, with a year-over-year change of 5.8%. This indicates that home prices in Parma, OH are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $203,000 | 5.8% |
| Single Family | $206,000 | 6.2% |
| Condos | $167,000 | 5.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $167,000 | 7.1% |
3 Bed | $206,000 | 6.2% |
4 Bed | $243,000 | 5.2% |
| 5 Bed | $257,000 | 4.9% |
% of Housing Stock
Rental Trends — Parma, OH
As of July '25, Rentcast reports the average rent in Parma, OH is $1,430, with a year-over-year rent change of 15.3%. Per bedroom, the median rent as of July '25 in Parma, OH is 1-bedrooms: $785, 2-bedrooms: $1,100, 3-bedrooms: $1,720, 4-bedrooms: $1,770. The most common rental property sizes in Parma, OH are 2-bedroom and 3-bedroom, accounting for 35.9% and 28.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,450 | $1,430 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $825 | $785 |
| 2 Bed Rent | $1,150 | $1,100 |
| 3 Bed Rent | $1,600 | $1,720 |
| 4 Bed Rent | $1,850 | $1,770 |
% 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 39. This is a increase of 22.0% 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 40.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $226,000 | 4.0% |
Listing Count | 106 | 12.0% |
| Listings as % of Homes | 0.5% | 12.0% |
Days on Market | 39 | 22.0% |
Demographics — Parma, OH
As of the latest ACS Survey released in 2023, Parma, OH has a population of 38,200, which has increased by 1.9% over the past 5 years. Parma, OH is a moderately popular place for families, as children make up 18.9% of the population. The area has a moderately educated workforce, with 26.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 38,200 | 1.9% |
% Under 18 | 18.9% | 5.6% |
% Seniors | 20.2% | 9.2% |
% WFH | 12.5% | 290.6% |
% w/ College Degree | 26.2% | 28.4% |
As of the latest ACS Survey released in 2023, Parma, OH is a predominantly white area, with 85.2% of the population identifying as white. The white population has shrunk by 4.9% in the last 5 years. The second most common race or ethnicity in Parma, OH is hispanic, making up 4.6% of the population. Foreign-born residents account for 11.0% of the population in Parma, OH, and this percentage has increased by 1.9% 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 | 85.2% | -4.9% |
% Black | 3.1% | 40.9% |
% Hispanic | 4.6% | -9.8% |
% Asian | 2.9% | 81.2% |
% Foreign Born | 11.0% | 1.9% |
Mortgage and Risk — Parma, OH
According to HUD data as of 2023, there were 805 mortgage originations in Parma, OH, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 33.0% 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. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 805 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Parma, OH
As of 2024, the percent of homes in Parma, OH under the Section 8 program is 1.7%. 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. In Parma, OH, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 191 |
Total Units Section 8 | 128 |
% Rentals under Section 8 | 1.7% |
% Occupied Section 8 | 90.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $285 | $825 | $1,110 |
| 2 Bedroom | $200 | $1,150 | $1,350 |
| 3 Bedroom | $140 | $1,600 | $1,740 |
| 4 Bedroom | $10 | $1,850 | $1,860 |
Affordability — Parma, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $203,000 |
| Median Household Income | $67,100 |