Market Overview
Home Prices in Painesville, OH
The median home value in Painesville, OH is $231,147 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.4% compared to a year ago and up 4.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Painesville are priced44% below average. Painesville is part of the Cleveland-Elyria, OH metro area.
Over the past five years, Painesville home values have risen by approximately30.3%, reflecting strong long-term appreciation in this market.
Price History
Painesville Home Price Trend
City Comparison
Painesville vs. National Median
At $231,147, homes in Painesville cost 44% below the national median of $410,000. This makes Painesville a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Painesville?
20% Down Payment
$46,229
on $231,147
Monthly P&I
$1,206/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,532/mo
incl. taxes & insurance
Income Needed
$61,280
gross annual (30% rule)
10% Down Option
$23,115
+ PMI applies
Loan Amount (20% dn)
$184,918
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Painesville, OH?
The median home value in Painesville is $231,147 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.4% year-over-year.
How much have home prices changed in Painesville?
Over the past year, home values in Painesville have increased by 3.4%. Over five years, prices have risen approximately 30.3%.
How much do I need to earn to buy a home in Painesville?
To comfortably afford the median home price of $231,147 with a 20% down payment ($46,229) at today's rates (6.8%), you'd need a gross annual income of approximately $61,280. This assumes keeping total housing costs at or below 30% of gross income.
How does Painesville compare to the national average home price?
The national median home value is approximately $410,000. At $231,147, homes in Painesville are 44% below the national average.
What metro area is Painesville part of?
Painesville is part of the Cleveland-Elyria, OH metropolitan area. Home prices and market conditions can vary across the broader metro region.