salaryRent is lower than in 68% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.
How much money do I need?
To rent here comfortably, you should earn about $53,000 a year. That is $25 an hour at a full-time job.
Is rent cheaper than other Ohio cities?
No. Rent here is more expensive than in most of Ohio. It is number 161 of 288 cities from cheapest to most expensive.
How much do households earn in Parma?
Share of households by yearly income. 19.0% of households earn $100,000 or more.
Rent by apartment size in Parma
| Size | Parma | U.S. average |
|---|---|---|
| Studio | $1,053 | $1,338 |
| 1 bedroom | $979 | $1,324 |
| 2 bedrooms | $1,238 | $1,509 |
| 3 bedrooms | $1,458 | $1,698 |
| 4 bedrooms | $1,908 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Parma overall?
Everyday prices in Ohio overall are 7% below the U.S. average (index 92.8, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Parma, so the Ohio figure is shown.
Taxes and bills in Parma
Life in Parma
Is it cheaper to rent or buy in Parma?
Buying is cheaper month to month: about $145 a month less than renting.
Owning assumes a typical $170,100 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $17,010 for the down payment.
Frequently asked questions
What is the average rent in Parma, OH?
Renting in Parma costs a median of about $1,325 a month in 2026, including utilities. The Ohio median is $1,261.
How much do I need to make to live in Parma?
To keep rent under 30% of income, you need about $53,000 a year, or $25 an hour at a full-time job.
Is Parma cheap or expensive?
Parma is rated OK: rent takes 21.3% of the typical household income of $74,735. It ranks 161st cheapest of 288 Ohio cities we track.
How much are property taxes in Parma?
The median homeowner in Parma pays $3,341 a year in property taxes, about 1.96% of the median home value.
Is Parma more expensive than the national average?
Overall prices in Ohio are 7% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Parma?
The median home value in Parma is $170,100, about 2.3 times the typical yearly household income.
79,870 people live in Parma. Numbers are typical (middle) values.