Terrace Park, OH—45174
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Terrace Park, OH
As of Oct '25, the median home price in Terrace Park, OH is $734,000, with a year-over-year change of 3.3%. This indicates that home prices in Terrace Park, 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 | $734,000 | 3.3% |
| Single Family | $734,000 | 3.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $560,000 | 1.3% |
4 Bed | $848,000 | 2.9% |
| 5 Bed | $1,164,000 | 5.5% |
% of Housing Stock
Rental Trends — Terrace Park, OH
Terrace Park, OH lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Terrace Park, OH
Terrace Park, OH lacks sufficient listing trend data for analysis.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | N/A | N/A |
Listing Count | N/A | N/A |
| Listings as % of Homes | N/A | N/A |
Days on Market | N/A | N/A |
Demographics — Terrace Park, OH
As of the latest ACS Survey released in 2023, Terrace Park, OH has a population of 2,290, which has decreased by -2.4% over the past 5 years. Terrace Park, OH is a popular place for families, as children make up 36.3% of the population. The area has a highly educated workforce, with 85.8% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 30.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,290 | -2.4% |
% Under 18 | 36.3% | 7.4% |
% Seniors | 11.8% | 24.2% |
% WFH | 30.1% | 176.1% |
% w/ College Degree | 85.8% | 3.1% |
As of the latest ACS Survey released in 2023, Terrace Park, OH is a predominantly white area, with 89.8% of the population identifying as white. The white population has shrunk by 6.3% in the last 5 years. The second most common race or ethnicity in Terrace Park, OH is hispanic, making up 5.4% of the population. Foreign-born residents account for 2.4% of the population in Terrace Park, OH, and this percentage has decreased by 54.7% 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 | 89.8% | -6.3% |
% Black | 0.0% | -100.0% |
% Hispanic | 5.4% | 86.2% |
% Asian | 0.4% | -33.3% |
% Foreign Born | 2.4% | -54.7% |
Mortgage and Risk — Terrace Park, OH
According to HUD data as of 2023, there were 46 mortgage originations in Terrace Park, OH, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 48.0%, with 4.0% above 90% LTV (normal). This implies small mortgage risk in Terrace Park, OH. Investor activity is low, as 0.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 46 |
% Conventional Loans | 100.0% |
% Government Loans | 0.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Terrace Park, OH
Terrace Park, OH lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,490 |
| 2 Bedroom | N/A | N/A | $1,930 |
| 3 Bedroom | N/A | N/A | $2,560 |
| 4 Bedroom | N/A | N/A | $2,830 |
Affordability — Terrace Park, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $734,000 |
| Median Household Income | $206,000 |