Urbana, OH Housing Market

Market Overview

Urbana, OH is a moderate housing market, reflected in a PropertyIQ Score of 55 out of 100. The local market is slightly stronger than the state on several measures. The median home value of $255,957 is above the Ohio average of $249,941, the rent index of $1,075 is above the state average of $988, and median household income of $74,239 is above the state average of $69,680. Unemployment matches the state at 3.6%. These figures suggest stable local fundamentals rather than a market that is running hot.

The score drivers, however, point to cooling. The 12-month home value momentum is strong at 11.98%, but the 3-month momentum is -0.67%, meaning recent price movement has flattened or reversed. Median days on market is 35 days, and 30.9% of listings have had a price cut. There are 59 homes for sale, and population growth data is not available. A reported year-over-year home value change of $14 is also listed, but it is too small to interpret as a meaningful annual shift alongside the 11.98% momentum. Overall, Urbana is a moderate market with above-average pricing and income but softer near-term price momentum.

Key Trends

First, annual and quarterly price momentum are diverging. The 12-month home value momentum of 11.98% shows a strong prior year, while the 3-month figure of -0.67% indicates that appreciation has stalled. This shift matters for pricing expectations.

Second, sales speed and price cuts coexist. A median of 35 days on market is relatively efficient, but 30.9% of listings have had a price cut. That means nearly one in three sellers has adjusted pricing to attract offers, signaling softer seller leverage.

Third, affordability remains a relative strength. Median household income of $74,239 is above the state average of $69,680, while the median home value of $255,957 is only slightly above the state average of $249,941. The rent index of $1,075 is above the state average of $988, which may support rental demand but also reflects higher tenant costs.

Fourth, Urbana tracks slightly ahead of Ohio on key benchmarks. Home value, rent index, and income all exceed state averages, while unemployment is equal at 3.6%. The missing population growth data limits conclusions about whether this strength is expanding.

Who Is This Market For

Urbana suits buyers and investors who prioritize balance over rapid appreciation. First-time buyers may find room to negotiate because 30.9% of listings have price cuts, and the median home value of $255,957 is manageable relative to the median household income of $74,239. Move-up buyers may also benefit from the 11.98% 12-month home value momentum, which suggests existing owners gained equity over the past year, though the -0.67% 3-month momentum tempers expectations.

Rental investors may be drawn to the rent index of $1,075, which is above the state average of $988. Still, with a median home value of $255,957 and cooling 3-month momentum, investors should focus on current cash flow rather than short-term appreciation. With only 59 homes for sale, inventory is limited, so well-priced listings may attract attention. The market is less suited to flippers or buyers expecting rapid price growth.

Outlook

The outlook is for moderating stability. The 11.98% 12-month home value momentum shows recent appreciation, but the -0.67% 3-month momentum and 30.9% price-cut share point to cooling. Median days on market of 35 days and an unemployment rate of 3.6% suggest demand has not weakened sharply. Above-average income and rent levels provide support. With no population growth data available, the data supports an expectation of slower price growth and steady sales activity rather than another year of double-digit appreciation.