Wilmington, OH Housing Market

Market Overview

Wilmington, OH posts a moderate PropertyIQ Score of 68 out of 100, placing it in a stable but not overheated position. The median home value of $258,921 is $8,980 above the state average of $249,941, while the rent index of $1,113 is $125 above the state average of $988. Those housing costs are paired with a median household income of $68,125, which is $1,555 below the state benchmark of $69,680. The unemployment rate is 3.6%, matching the state average. This creates a picture of a market where home prices and rents are slightly elevated relative to Ohio, but incomes are just below typical, suggesting moderate affordability pressure.

The property score is supported by several top drivers. Home value momentum over 12 months is 8.81%, indicating meaningful annual appreciation. However, the 3-month home value momentum is -0.72%, showing a recent cooling or flattening. Median days on market sits at 47 days, and 18.7% of listings have had a price cut. These metrics point to a market that is still moving but not frantic: homes take about a month and a half to sell, and nearly one in five sellers is adjusting price, which gives buyers some room to negotiate.

With 93 homes for sale, inventory is relatively contained. Compared with Ohio benchmarks, Wilmington's stronger rent index and higher median home value stand out, while its income and employment metrics are roughly in line. The 68/100 score reflects this balance: solid annual price momentum and rental strength offset by softer short-term momentum and moderate affordability constraints.

Key Trends

The first trend is a split in price momentum. The 12-month home value momentum is 8.81%, which is a strong annual gain. But the 3-month home value momentum is -0.72%, meaning prices have edged slightly lower in the most recent quarter. The dataset reports a home value year-over-year figure of $7. This short-term pullback matters because it may signal that the rapid annual pace is easing.

Second, the market is moving at a moderate pace. Median days on market is 47, and 18.7% of listings have a price cut. These figures are not consistent with an extreme seller's market, where homes often sell faster and price cuts are rare. Instead, they suggest a balanced environment: sellers are still getting deals done in under two months, but enough listings are being reduced to indicate that pricing must stay realistic.

Third, the rental market is stronger than the state average. Wilmington's rent index of $1,113 is $125 above the Ohio average of $988. For a market with a median home value of $258,921 and an unemployment rate of 3.6%, this rental premium may reflect solid local rental demand. It also makes the market more interesting for income-oriented investors, since rents are above the state norm.

Fourth, affordability is a watchpoint. The median household income of $68,125 is slightly below the state average of $69,680, while the median home value is above the state average. That combination means local buyers may need to spend a larger share of income on housing than the typical Ohio household. However, the matching 3.6% unemployment rate indicates a stable employment base. Population growth data is listed as N/A, so there is no clear signal on whether household formation is adding demand.

Who Is This Market For

This market is best suited to buyers and investors who value balance over rapid appreciation. For first-time buyers, the median home value of $258,921 may be slightly above the state average, and the median household income of $68,125 is below the state benchmark, so affordability could be a hurdle. But the 47-day median time on market and 18.7% price-cut share mean first-time buyers may have more room to negotiate and inspect than in a hotter market.

For rental property investors, Wilmington's profile is more compelling. The rent index of $1,113 is well above the state average of $988, while the median home value is only $8,980 above the state median. That suggests a relatively favorable rent-to-price relationship compared with Ohio overall. The unemployment rate of 3.6% matches the state and points to a stable tenant base, though the lack of population growth data limits assumptions about long-term rental demand.

Move-up buyers may find opportunities as well. The 12-month home value momentum of 8.81% shows that longer-term values have risen, but the -0.72% three-month momentum and 18.7% price-cut share indicate that the market has cooled enough for sellers to be more flexible. That can help move-up buyers sell and buy in a less pressured environment. Short-term flippers may see less appeal, given the negative three-month momentum and only 93 homes for sale.

Outlook

The data points to a market that is cooling from a period of annual growth rather than one in decline. The 12-month home value momentum of 8.81% remains a strong underlying signal, but the -0.72% three-month momentum, 47-day median days on market, and 18.7% share of listings with price cuts all suggest that near-term conditions are flattening. With 93 homes for sale, inventory is not large enough to indicate a major oversupply, which may prevent sharp price drops. The rent index of $1,113 versus the state average of $988 supports continued rental demand, especially with unemployment at 3.6%. However, the median household income of $68,125 remains slightly below the state average, which may cap how aggressively home prices can grow without incomes catching up. Population growth is N/A, so future demand from new households cannot be confirmed. Overall, the most likely near-term path is a stable to slightly softer market, with continued rental strength and moderate buyer negotiation.