Economy of Ohio - Housing

Housing

According to the United States Census Bureau, there are an estimated 5,045,356 houses in Ohio, of which 4,499,506, or about 89.2% are estimated to be occupied; this is 0.8% above the national average rate of occupation. Houses with a mortgage are estimated to cost owners about $1,216 per month, which is $186 below the national average. The United States Census Bureau also estimates that 3,150,239 houses are owner-occupied, or about 70%, which is 2.7% above the national average, and that an estimated 1,349,267 houses are renter-occupied. The median house value is $135,200, which is a significant $50,000 below the national average. Also, there are an estimated 545,850 unoccupied houses. It is also interesting to note that the plurality of houses in Ohio were built from 1940 to 1959 (1,175,325 houses), and that 3,058,721 houses are in some way dependent on utility gas.

The average home value in Cleveland is $139,900, Cincinnati $149,900, and Columbus $164,900. Clear Capital's Home Data Index in July 2009 showed that Cleveland, Columbus and Cincinnati led the nation in home value increases, up 19.6, 15.6 and 12.9 percent. The top five counties through November 2006 for average listing price were Geauga County at $388,822, Ottawa County at $314,786, Union County at $306,872, Warren County at $267,236, and Hamilton County at $237,965.

Some historians suggest Ohio is the birthplace of public housing, having submitted the first application for such to the Public Works Administration in 1933. The state was also the first to establish a local public housing authority. Ernest J. Bohn, a Romanian immigrant to Cleveland, is credited as a pioneer in public housing.