Wooster, OH Housing Market

Market Overview

Wooster, OH, posts a PropertyIQ Score of 79 out of 100, positioning it as a moderately strong market. The top score drivers are a median days on market of 30 days and a share of listings with a price cut of 19.3%. These metrics suggest homes are moving quickly, and the scoring model treats the price-cut share as a favorable factor. The median home value is $242,500, slightly below the state average of $248,803, while median household income is $71,769, above the state average of $69,680. The unemployment rate is 3.4%, matching the state benchmark.

Compared with the state, Wooster offers relative affordability and steady local economic conditions. The rent index is $849, well below the state average of $988, which can mean lower rental costs but also lower rental income potential than the state norm. With 126 homes for sale and a 30-day median days on market, inventory appears to be turning over quickly. The home value year-over-year change is negative five dollars, essentially flat.

Overall, the 79/100 score points to a market with solid buyer activity and stable pricing. The combination of a below-state median home value and an above-state median household income gives Wooster a practical affordability advantage, while the quick sales pace suggests demand is present without sharp price inflation.

Key Trends

First, the pace of sales stands out. A median days on market of 30 days is a top score driver, meaning homes typically go under contract about a month after listing. The share of listings with a price cut is 19.3%, also a top score driver, contributing favorably to the overall PropertyIQ Score.

Second, home values are essentially flat. The median home value is $242,500, slightly below the state average of $248,803. The year-over-year change is negative five dollars, signaling stability rather than meaningful appreciation or depreciation.

Third, affordability metrics diverge from the state. Wooster’s median household income of $71,769 is higher than the state average of $69,680, while its median home value is lower than the state average. However, the rent index of $849 is significantly below the state average of $988, which may make rental-focused investment less attractive relative to other Ohio markets.

Fourth, inventory turnover appears efficient. The market has 126 homes for sale and a 30-day median days on market. While the data does not provide a state inventory comparison, the quick sales pace and moderate price-cut share suggest active buyer interest. Population growth is not available, so the full demand picture remains incomplete.

Who Is This Market For

This market is well suited to first-time buyers and primary-home buyers seeking relative affordability. The median home value of $242,500 is below the state average of $248,803, and median household income of $71,769 is above the state benchmark of $69,680. This income-to-value relationship can make buying more attainable. The unemployment rate of 3.4% matches the state average, supporting local job stability.

Move-up buyers may also find this market workable. Homes are selling in a median of 30 days, and the share of listings with a price cut is 19.3%, which suggests properly priced homes do not linger. However, with the home value year-over-year change at negative five dollars, move-up sellers should not expect rapid price gains to fund their next purchase.

For investors, Wooster presents a mixed case. The rent index of $849 is well below the state average of $988, which may limit rental income compared with other Ohio markets. The stable unemployment rate and quick sales pace could still appeal to investors who prioritize occupancy and turnover over maximum cash flow. Because population growth data is not available, investors considering longer-term demand should note that gap.

Outlook

The current data suggests a stable, moderately strong near-term outlook. The 79/100 PropertyIQ Score, supported by a 30-day median days on market and a 19.3% share of listings with a price cut, points to continued buyer interest and efficient sales. The median home value of $242,500 remains slightly below the state average of $248,803, and the year-over-year change of negative five dollars indicates flat pricing rather than rapid appreciation. Unemployment at 3.4% matches the state, and median household income of $71,769 is above the state average, which supports local purchasing power. The main uncertainty is the missing population growth figure, which limits what the data can say about longer-term demand. Based strictly on the provided metrics, Wooster appears to be an affordable and steady market without sharp upward or downward movement.