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Vermilion Local

Learn about the people, housing, costs and businesses in Vermilion Local, Ohio

Median Home$207,336
Median Rent$981/month
Population14,253
Leading IndustriesEducation · Professional Services · Retail6% education
Home Value Growth+10.9% over 2 years
Retirees27% of residentswell above average
Homeowners79% of occupied units
NotableVeteran Community8% of residents · top 27% nationally
Vermilion Local
OH

Frequently Asked Questions

What are today's mortgage rates in Vermilion Local?

As of today, the 30-year fixed mortgage rate for Vermilion Local is approximately 6.995% (7.035% 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 Vermilion Local?

The median home value in Vermilion Local is $207k. The median monthly rent is $981. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Vermilion Local?

Home values in Vermilion Local have increased 10.9% 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 Vermilion Local?

Based on a typical all-in ownership cost of $1,054/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $45k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Vermilion Local is $72k/year.

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What industries drive the economy in Vermilion Local?

The largest employment sectors in Vermilion Local are public administration (25%) and retail (15%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.