Current home values in Ohio

Home values have been rising throughout Ohio and are up 8.4% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $270,414, Realtor says.

Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today's bargain mortgage rates and the low monthly house payments they provide.

Here's how that works in Ohio: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

A 30-year mortgage for a $270,414 home at 3.33% would give a typical Ohio homebuyer a monthly payment of $951, assuming a 20% down payment.

The right homeowners insurance policy protects you, your loved ones and your home.

Find the coverage you need at the most competitive rate in your area. Compare quotes from over 200 insurance companies with SmartFinancial.

Compare Now

How the Ohio housing market stacks up

Family having fun on their porch
tamaradavis93 / Twenty20
Families can still have fun when the weather cools down in Ohio

The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in Ohio, they're predicted to rise 4.8%.

Homes right now are going on the market in Ohio at a median price of $96 per square foot, versus $134 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

Ohio home prices over the last 10 years

Year Avg. Price
2020* $152,913
2019 $141,050
2018 $134,242
2017 $126,025
2016 $118,350
2015 $113,108
2014 $108,917
2013 $105,183
2012 $103,117
2011 $104,208
2010 $109,475
2009 $111,767

*2020 price average through March 31, 2020.

Compare current mortgage rates from top national lenders. Get the best rate for your purchase or mortgage refinance.

Compare Rates

How much for an average-sized home?

Here's what a 2,500-square-foot home in Ohio is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2020* $240,901
2019 $245,000
2018 $232,500
2017 $217,500
2016 $202,500
2015 $192,500
2014 $185,000
2013 $180,000
2012 $177,500
2011 $177,500
2010 $190,000
2009 $190,000

*2020 price average through March 31, 2020.

Get peace-of-mind on your home insurance

Homeowners insurance buys you peace of mind. But are you sure you’re not paying too much for home insurance?

SmartFinancial compares quotes from over 200 insurance companies to check for discounts and help you find lower rates in your area.

Use SmartFinancial right now and stop overpaying for home insurance.

What to Read Next

Disclaimer

The content provided on MoneyWise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.