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Parma Heights

Learn about the people, housing, costs and businesses in Parma Heights, Ohio

Median Home$179,083
Median Rent$1,171/month
Population20,581
Leading IndustriesFinance & Insurance · Transportation · Information & Media8% finance & insurance
Home Value Growth⬆⬆+17.2% over 2 years
Young Adults29% of residentsslightly above average
Homeowners58% of occupied units
NotableAmenity Score68/100 · highly walkable area
Parma Heights
OH

Frequently Asked Questions

What are today's mortgage rates in Parma Heights?

As of today, the 30-year fixed mortgage rate for Parma Heights is approximately 7.008% (7.051% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Parma Heights?

The median home value in Parma Heights is $179k. The median monthly rent is $1,171. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Parma Heights?

Home values in Parma Heights have increased 17.2% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Parma Heights?

Based on a typical all-in ownership cost of $1,125/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $48k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Parma Heights is $67k/year.

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What industries drive the economy in Parma Heights?

The largest employment sectors in Parma Heights are public administration (19%) and retail (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.