Parma, Ohio Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Parma, Ohio rental market.
Parma, Ohio
Average Apartment Rent
$1,117
Y-o-Y Change in Average
Apartment Rent
3.9%
As of May 2026
Compared to a year ago, Parma, Ohio apartments have recorded a 3.9% rent increase.
Parma, Ohio Average apartment rent trend
Parma, Ohio Average Apartment Rent
Parma, Ohio Apartment rent ranges
At 51.95%, apartments priced $1,000 - $1,500 represent the bulk of Parma, Ohio rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 8.83%.
Parma, Ohio Housing tenure**
Renters take up 28% of Parma, Ohio real estate, occupying a total of 9,669 units, while homeowners live in 24,877 properties.
Median number of rooms of renter-occupied housing units**
4.3
Renter median household income**
$44,703
Average household size of renter-occupied housing units**
2.22
Rental vacancy rate**
3.7%
Parma, Ohio Renter-occupied housing units by no. of bedrooms**
There are 3,480 rentals in Parma, Ohio with 2 beds making up the highest share of the market, at 36%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 98 units. Overall, the median number of rooms in Parma, Ohio homes for rent is 4.3.
Parma, Ohio Renter-occupied units by age of householder**
Most condos for rent in Parma, Ohio are occupied by residents in the 25 - 34 years age group (25%), followed by those in the 45 - 54 years age group (16%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Parma, Ohio Renter-occupied housing units by family type**
Parma, Ohio Renter-occupied housing units by the presence of own children**
A total of 4,527 apartments for rent in Parma, Ohio, or 47% of all rentals are family households. Additionally, 25% of rental homes include children under the age of 18 – that’s 2,396 units. All in all, the median size of a renter-occupied household in Parma, Ohio is 2.22.
Parma, Ohio Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 21% of the rental market. In contrast, residents with less than a high school degree reside in 9% of the homes for rent in Parma, Ohio.
Parma, Ohio Renter-occupied units by year structure built**
The highest share of Parma, Ohio apartment rentals, namely 26% or 2,526 units, were Built 1950 - 1959, followed by those Built 1960 - 1969 (22%, 2,108 units), and the ones Built 1970 - 1979 (17%, 1,686 units).
Parma, Ohio Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most Parma, Ohio renters (44%) moved in 2010 to 2017, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Parma, Ohio condos for rent is 2016.
Parma, Ohio Renter-occupied housing units by vehicles available**
When it comes to transportation options, 54% of Parma, Ohio renters have 1 vehicle available per household, 27% of them have 2 vehicles available, and 11% have No vehicle available.
Parma, Ohio Means of transportation to work of householders living in renter-occupied housing units**
Parma, Ohio Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Parma, Ohio apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
