Parma, OH


Highest Appreciating Parma Neighborhoods Since 2000

Parma, OH Real Estate Data

Parma Housing Market Information

With 79,937 people, 33,400 houses or apartments, and a median cost of homes of $125,979, house prices in Parma are solidly below the national average.

Single-family detached homes are the single most common housing type in Parma, accounting for 76.53% of the city's housing units. Other types of housing that are prevalent in Parma include large apartment complexes or high rise apartments ( 16.32%), duplexes, homes converted to apartments or other small apartment buildings ( 4.16%), and a few row houses and other attached homes ( 2.83%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Parma. Owner-occupied housing accounts for 73.60% of Parma's homes, and 69.82% have either three or four bedrooms, which is average sized relative to America.

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's housing was primarily built during this period, from the '40s through the '60s. A full 69.44% of the city's housing hails from this era. Other housing ages represented in Parma include homes built between 1970-1999 ( 18.61%) and housing constructed before 1939 ( 10.19%). There's also some housing in Parma built between 2000 and later ( 1.77%).

Parma Home Appreciation Rates

Parma's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Parma during the period has been just -2.01%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Parma's appreciation rate, at 4.55%, has been at or slightly above the national average. In the latest quarter, Parma's appreciation rate has been 3.30%, which annualizes to a rate of 13.87%.

Importantly, this makes Parma one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Ohio, our data show that Parma's latest annual appreciation rate is lower than 60% 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 differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Parma - 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 real estate investment or home purchase decisions.

Average Home Values


Median Home Value:


Value Range
> $1,083,000 0.3
$813,001 - $1,083,000 0.0
$542,001 - $813,000 0.0
$433,001 - $542,000 0.0
$325,001 - $433,000 0.6
$217,001 - $325,000 3.3
$108,001 - $217,000 59.0
$54,001 - $108,000 32.7
$0 - $54,000 4.1

Low for OH
Low for Nation

Value Relative to Nation Value Relative to State
63.1551209228787 60.6299212598425

Number Of Homes And Apartments:

Rent & Ownership


Average Market Rent:
$957 / per month

Homeownership Rate

Owners 73.60
Renters 26.40
Vacant 8.01

Housing Market Details


Age of Homes

2000 or Newer 1.8
1970 - 1999 18.6
1940 - 1969 69.4
1939 or Older 10.2

Types of Homes

Single-Family 76.5
Townhomes 2.8
Small Apt. Buildings 4.2
Apt. Complexes 16.3
Mobile Homes 0.1
Other 0.1

Home Size

No Bedroom 0.65
1 Bedroom 7.84
2 Bedrooms 20.26
3 Bedrooms 57.71
4 Bedrooms 12.11
5 or more bedrooms 1.43

Parma Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
-11.74% -0.73% 1 1
* 10 is highest