Westlake, OH—44145
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Westlake, OH
As of Oct '25, the median home price in Westlake, OH is $409,000, with a year-over-year change of 5.7%. This indicates that home prices in Westlake, OH are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $409,000 | 5.7% |
| Single Family | $460,000 | 6.0% |
| Condos | $240,000 | 3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $122,000 | 3.4% |
2 Bed | $217,000 | 3.8% |
3 Bed | $357,000 | 5.3% |
4 Bed | $540,000 | 6.3% |
| 5 Bed | $733,000 | 4.9% |
% of Housing Stock
Rental Trends — Westlake, OH
As of July '25, Rentcast reports the average rent in Westlake, OH is $2,480, with a year-over-year rent change of 15.9%. Per bedroom, the median rent as of July '25 in Westlake, OH is studios: $1,650, 1-bedrooms: $1,460, 2-bedrooms: $2,130, 3-bedrooms: $3,120, 4-bedrooms: $4,290. The most common rental property sizes in Westlake, OH are 2-bedroom and 1-bedroom, accounting for 53.4% and 29.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,480 |
| Studio Rent | $1,650 | $1,650 |
| 1 Bed Rent | $1,480 | $1,460 |
| 2 Bed Rent | $1,900 | $2,130 |
| 3 Bed Rent | $3,300 | $3,120 |
| 4 Bed Rent | $3,200 | $4,290 |
% of Rental Stock
Property Listings — Westlake, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Westlake, OH is 43. This is a increase of 4.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $443,000 | -12.0% |
Listing Count | 126 | 15.0% |
| Listings as % of Homes | 0.5% | 15.0% |
Days on Market | 43 | 4.0% |
Demographics — Westlake, OH
As of the latest ACS Survey released in 2023, Westlake, OH has a population of 34,000, which has increased by 5.1% over the past 5 years. Westlake, OH is a moderately popular place for families, as children make up 20.5% of the population. The area has a highly educated workforce, with 58.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 34,000 | 5.1% |
% Under 18 | 20.5% | 0.5% |
% Seniors | 24.2% | 4.3% |
% WFH | 19.2% | 146.2% |
% w/ College Degree | 58.4% | 10.6% |
As of the latest ACS Survey released in 2023, Westlake, OH is a predominantly white area, with 84.6% of the population identifying as white. The white population has shrunk by 1.9% in the last 5 years. The second most common race or ethnicity in Westlake, OH is asian, making up 6.8% of the population. Foreign-born residents account for 12.7% of the population in Westlake, OH, and this percentage has increased by 44.3% 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 | 84.6% | -1.9% |
% Black | 2.0% | -37.5% |
% Hispanic | 3.9% | 34.5% |
% Asian | 6.8% | 44.7% |
% Foreign Born | 12.7% | 44.3% |
Mortgage and Risk — Westlake, OH
According to HUD data as of 2023, there were 634 mortgage originations in Westlake, OH, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Westlake, OH. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 634 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Westlake, OH
As of 2024, the percent of homes in Westlake, OH under the Section 8 program is 0.3%. 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 Westlake, OH, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 17 |
Total Units Section 8 | 16 |
% Rentals under Section 8 | 0.3% |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$100 | $1,480 | $1,380 |
| 2 Bedroom | -$230 | $1,900 | $1,670 |
| 3 Bedroom | -$1,150 | $3,300 | $2,150 |
| 4 Bedroom | -$900 | $3,200 | $2,300 |
Affordability — Westlake, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $409,000 |
| Median Household Income | $110,000 |