Vermilion, OH—44089
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Vermilion, OH
As of Nov '25, the median home price in Vermilion, OH is $258,000, with a year-over-year change of 5.7%. This indicates that home prices in Vermilion, OH are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $258,000 | 5.7% |
| Single Family | $252,000 | 5.4% |
| Condos | $308,000 | 6.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $162,000 | 5.9% |
2 Bed | $225,000 | 5.1% |
3 Bed | $252,000 | 5.4% |
4 Bed | $336,000 | 6.0% |
| 5 Bed | $425,364 | 6.7% |
% of Housing Stock
Rental Trends — Vermilion, OH
As of July '25, Rentcast reports the average rent in Vermilion, OH is $1,410, with a year-over-year rent change of -26.2%. Per bedroom, the median rent as of July '25 in Vermilion, OH is 1-bedrooms: $825, 2-bedrooms: $1,260, 3-bedrooms: $1,650, 4-bedrooms: $1,450. The most common rental property sizes in Vermilion, OH are 2-bedroom and 3-bedroom, accounting for 39.0% and 36.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,410 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $825 | $825 |
| 2 Bed Rent | $1,100 | $1,260 |
| 3 Bed Rent | $1,600 | $1,650 |
| 4 Bed Rent | $1,400 | $1,450 |
% of Rental Stock
Property Listings — Vermilion, OH
As of Nov '25, Realtor.com reports that the median days on market for a home in Vermilion, OH is 66. This is a increase of 88.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $460,000 | 29.0% |
Listing Count | 87 | 43.0% |
| Listings as % of Homes | 0.4% | 43.0% |
Days on Market | 66 | 88.0% |
Demographics — Vermilion, OH
As of the latest ACS Survey released in 2023, Vermilion, OH has a population of 15,900, which has increased by 2.2% over the past 5 years. Vermilion, OH is a moderately popular place for families, as children make up 17.6% of the population. The area has a moderately educated workforce, with 29.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,900 | 2.2% |
% Under 18 | 17.6% | -1.7% |
% Seniors | 25.6% | 3.2% |
% WFH | 7.1% | 97.2% |
% w/ College Degree | 29.3% | 11.8% |
As of the latest ACS Survey released in 2023, Vermilion, OH is a predominantly white area, with 93.4% of the population identifying as white. The white population has shrunk by 2.2% in the last 5 years. The second most common race or ethnicity in Vermilion, OH is hispanic, making up 3.8% of the population. Foreign-born residents account for 1.4% of the population in Vermilion, OH, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 93.4% | -2.2% |
% Black | 0.3% | -62.5% |
% Hispanic | 3.8% | 31.0% |
% Asian | 0.9% | ∞% |
% Foreign Born | 1.4% | 0.0% |
Mortgage and Risk — Vermilion, OH
According to HUD data as of 2023, there were 369 mortgage originations in Vermilion, OH, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Vermilion, OH. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 369 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 2.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 12.0% |
Rentals and Section 8 — Vermilion, OH
As of 2024, the percent of homes in Vermilion, OH under the Section 8 program is 2.7%. 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 and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Vermilion, OH, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 33 |
Total Units Section 8 | 33 |
% Rentals under Section 8 | 2.7% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $155 | $825 | $980 |
| 2 Bedroom | $120 | $1,100 | $1,220 |
| 3 Bedroom | -$80 | $1,600 | $1,520 |
| 4 Bedroom | $350 | $1,400 | $1,750 |
Affordability — Vermilion, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $258,000 |
| Median Household Income | $72,000 |