Mentor, OH—44060
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mentor, OH
As of Oct '25, the median home price in Mentor, OH is $268,000, with a year-over-year change of 4.8%. This indicates that home prices in Mentor, 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 | $268,000 | 4.8% |
| Single Family | $293,000 | 4.3% |
| Condos | $184,000 | 5.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $122,000 | 8.0% |
2 Bed | $179,000 | 6.5% |
3 Bed | $250,000 | 4.6% |
4 Bed | $362,000 | 4.0% |
| 5 Bed | $428,000 | 4.6% |
% of Housing Stock
Rental Trends — Mentor, OH
As of July '25, Rentcast reports the average rent in Mentor, OH is $1,640, with a year-over-year rent change of -3.5%. Per bedroom, the median rent as of July '25 in Mentor, OH is studios: $1,320, 1-bedrooms: $962, 2-bedrooms: $1,310, 3-bedrooms: $1,920, 4-bedrooms: $2,320. The most common rental property sizes in Mentor, OH are 2-bedroom and 3-bedroom, accounting for 37.6% and 30.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,550 | $1,640 |
| Studio Rent | $1,320 | $1,320 |
| 1 Bed Rent | $975 | $962 |
| 2 Bed Rent | $1,320 | $1,310 |
| 3 Bed Rent | $1,900 | $1,920 |
| 4 Bed Rent | $2,240 | $2,320 |
% of Rental Stock
Property Listings — Mentor, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Mentor, OH is 33. This is a decrease of -8.0% 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 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $303,000 | 9.0% |
Listing Count | 187 | -1.0% |
| Listings as % of Homes | 0.5% | -1.0% |
Days on Market | 33 | -8.0% |
Demographics — Mentor, OH
As of the latest ACS Survey released in 2023, Mentor, OH has a population of 60,300, which has remained stable by -0.4% over the past 5 years. Mentor, OH is a moderately popular place for families, as children make up 19.5% of the population. The area has a moderately educated workforce, with 35.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 60,300 | -0.4% |
% Under 18 | 19.5% | 3.2% |
% Seniors | 22.5% | 7.1% |
% WFH | 12.1% | 157.4% |
% w/ College Degree | 35.1% | 8.7% |
As of the latest ACS Survey released in 2023, Mentor, OH is a predominantly white area, with 88.5% of the population identifying as white. The white population has shrunk by 6.2% in the last 5 years. The second most common race or ethnicity in Mentor, OH is hispanic, making up 3.3% of the population. Foreign-born residents account for 5.8% of the population in Mentor, OH, and this percentage has increased by 26.1% 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 | 88.5% | -6.2% |
% Black | 2.4% | 242.9% |
% Hispanic | 3.3% | 83.3% |
% Asian | 2.5% | 47.1% |
% Foreign Born | 5.8% | 26.1% |
Mortgage and Risk — Mentor, OH
According to HUD data as of 2023, there were 1486 mortgage originations in Mentor, OH, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Mentor, OH. Investor activity is low, as 1.0% 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 | 1,486 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Mentor, OH
As of 2024, the percent of homes in Mentor, OH under the Section 8 program is 3.7%. 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. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Mentor, OH, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 206 |
Total Units Section 8 | 183 |
% Rentals under Section 8 | 3.7% |
% Occupied Section 8 | 81.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $125 | $975 | $1,100 |
| 2 Bedroom | $20 | $1,320 | $1,340 |
| 3 Bedroom | -$180 | $1,900 | $1,720 |
| 4 Bedroom | -$390 | $2,240 | $1,850 |
Affordability — Mentor, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $268,000 |
| Median Household Income | $85,900 |