Parma Ohio City Guide

The population of the 7th largest city in Ohio is 79,559. Females make up 51.6% of residents, while males comprise 48.6%. The city has a relatively young population, with a median age of 42 years and about 26% of residents with ages 35 to 54 years. Residents that are 65 years old and above make up about 18% of the population.

Parma spans over 20 miles and has a population density of 3,884 people per square mile. The city’s population is falling at a rate of -0.42% every year and has decreased by -2.93% in the last decade.

In terms of racial makeup, Parma is slightly more diverse than nearby communities. White residents make up about 91%, African American residents comprise 3%, and approximately 2.8% of the population is made up of two or more ethnicities or races which include Polish, Irish, German, and Italian.

86% of residents in Parma speak only English, and 5.7% speak Russian, Polish, or other Slavic languages. 3.3% of residents speak Spanish.

Parma is home to 11 highly-rated public elementary schools, five public middle schools, and seven public high schools.

Of adults 25 and older in Parma, 21.3% or more than 8,900 have a bachelor’s degree, 10% or about 6,000 hold an associate degree, and 6.4% or 3,730 earned a graduate or professional degree.

Approximately 30,000 adults or 55% of adults in the city have sought four-year degree programs. 91.4% of residents in the city are high school graduates.

The median value of Parma properties is $130K. 53.3% of properties are priced between $120K and $241K. At 39.1%, the second most popular price range is between $60K and $120K. 3.1% of properties are worth less than $60K, and 4.1% of properties are valued at $241K and above.

The appreciation rate of Parma properties has generally stayed below the national average from 2008 to 2018, seeing as the average annual home appreciation rate has been only 0.72%. 70% of United States communities had higher appreciation rates during this period.

However, from September 2018 to September 2019, the appreciation rate in Parma raised to 3.80%, which is at or slightly higher than the national average. This number annualizes to an impressive 10.38% appreciation rate.

Notably, this places Parma as one of the highest appreciating communities across the United States, and recent annual appreciation rates are above over 60% of other Ohio cities and towns.

Out of around 33,500 residential properties, the vast majority at 76.5% are single-family homes. The second most common housing option is apartment buildings and complexes, seeing as this type of residence makes up 19.9% of the market. Condominiums are less common at 3.2%.

There are more large properties than there are small residences, seeing as 58.2% of housing options have 3 bedrooms. 14.1% have 4 or more bedrooms, and 19.9% have 2 bedrooms. Only 6.9% of residences have only 1 bedroom.

As is common in Cuyahoga Valley, the majority of homes were built between 1940 and 1969, seeing as properties of this age make up 68.4% of the market. 20.2% of properties were constructed between 1970 and 1999, and only 1.4% were built after the turn of the century. The remaining 10.1% of the market is comprised of properties built in or before 1939.

Parma’s economy is relatively stable. The estimated median household income in the city is $55,536, which is slightly above the Ohio median. The unemployment rate is 4.5%.

Approximately 74.6% of adults in the city have white-collar jobs, and there are especially a lot of people who work in finance and insurance, healthcare, and sales.

A resident in Parma has an annual income that is 44% above the US median at around $50,566. Parma’s poverty rate is 9%, and the per capita income is $36,783.