Parma Heights, OH


Highest Appreciating Parma Heights Neighborhoods Since 2000

Parma Heights, OH Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Parma Heights Housing Market Information

With a population of 20,246, 9,086 total housing units (homes and apartments), and a median house value of $128,676, house prices in Parma Heights are solidly below the national average.

Single-family detached homes are the single most common housing type in Parma Heights, accounting for 59.95% of the city's housing units. Other types of housing that are prevalent in Parma Heights include large apartment complexes or high rise apartments ( 32.60%), duplexes, homes converted to apartments or other small apartment buildings ( 4.22%), and a few row houses and other attached homes ( 3.15%).

The most prevalent building size and type in Parma Heights are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.45% owning and 44.55% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Parma Heights's housing was primarily built during this period, from the '40s through the '60s. A full 70.87% of the city's housing hails from this era. Other housing ages represented in Parma Heights include homes built between 1970-1999 ( 21.49%) and housing constructed before 1939 ( 5.28%). There's also some housing in Parma Heights built between 2000 and later ( 2.36%).

Parma Heights Home Appreciation Rates

Parma Heights's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Parma Heights during the period has been just -1.47%, which is lower than 80% of US communities.

Appreciation rates are so strong in Parma Heights that despite a nationwide downturn in the housing market, Parma Heights real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Parma Heights appreciation rates continue to be some of the highest in America, at 7.34%, which is higher than appreciation rates in 83.24% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Parma Heights. Parma Heights appreciation rates in the latest quarter were at -0.21%, which equates to an annual appreciation rate of -0.82%.

Relative to Ohio, our data show that Parma Heights's latest annual appreciation rate is higher than 90% of the other cities and towns in Ohio.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Parma Heights differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Parma Heights - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Parma Heights real estate investment or home purchase decisions.

Average Home Values


Median Home Value:

Parma Heights, OH HOME PRICES

Value Range
> $1,131,000 0.2
$848,001 - $1,131,000 0.0
$566,001 - $848,000 0.1
$452,001 - $566,000 0.0
$339,001 - $452,000 0.3
$226,001 - $339,000 5.0
$113,001 - $226,000 63.2
$57,001 - $113,000 27.8
$0 - $57,000 3.5

Average for OH
Low for Nation

Value Relative to Nation Value Relative to State
60.588304230634 55.1181102362205

Number Of Homes And Apartments:

Parma Heights Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
-4.92% -0.29% 2 1
* 10 is highest

Rent & Ownership


Average Market Rent:
$916 / per month

Homeownership Rate

Owners 55.45
Renters 44.55
Vacant 5.22

Housing Market Details


Age of Homes

AGE OF Parma Heights HOMES
2000 or Newer 2.4
1970 - 1999 21.5
1940 - 1969 70.9
1939 or Older 5.3

Types of Homes

TYPE OF Parma Heights HOMES
Single-Family 60.0
Townhomes 3.2
Small Apt. Buildings 4.2
Apt. Complexes 32.6
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Parma Heights HOMES
No Bedroom 0.71
1 Bedroom 14.41
2 Bedrooms 28.09
3 Bedrooms 45.26
4 Bedrooms 9.52
5 or more bedrooms 2.00