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Affordable
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These days, finding an affordable place to live in the Parma area can be challenging. Home prices in Parma are now at a median cost of $176,774, lower than the Ohio average of $236,816.
The average cost of rent is $1,173/mo in Parma, primarily driven by the current value of real estate in the Parma area. In Parma, 27.77% of households rent, and 40.93% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Parma is $6,132 per month. Households that rent pay about 19.14% of their income on rent here. Parma’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Parma Heights, OH: equally priced homes
- Seven Hills, OH: higher priced homes
- Brooklyn Heights, OH: higher priced homes
- Brooklyn, OH: less expensive homes
- Linndale, OH: less expensive homes
- Independence, OH: higher priced homes
- Brook Park, OH: equally priced homes
- Middleburg Heights, OH: higher priced homes
- North Royalton, OH: higher priced homes
- Cuyahoga Heights, OH: higher priced homes
Cities with Similar Populations
- El Monte, CA: higher priced homes
- Evanston, IL: higher priced homes
- Englewood, CO: higher priced homes
- Enterprise, NV: higher priced homes
- El Paso, TX: equally priced homes
- Elizabeth, NJ: higher priced homes
- Elkhart, IN: equally priced homes
- Ellicott City, MD: higher priced homes
- Everett, WA: higher priced homes
- Edinburg, TX: higher priced homes
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