Market Overview
Home Prices in Ray, OH
The median home value in Ray, OH is $197,357 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 8.3% compared to a year ago and up 1.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Ray are priced52% below average. Ray is part of the Jackson, OH metro area.
Over the past five years, Ray home values have risen by approximately28.8%, reflecting strong long-term appreciation in this market.
Price History
Ray Home Price Trend
2020
$123,750
$124K
—
2021
$153,272
$153K
+23.9%
2022
$162,105
$162K
+5.8%
2023
$162,928
$163K
+0.5%
2024
$179,824
$180K
+10.4%
2025
$182,315
$182K
+1.4%
2026
$197,357
$197K
+8.3%
City Comparison
Ray vs. National Median
🏠 Ray
$197,357
National Median
$410,000
At $197,357, homes in Ray cost 52% below the national median of $410,000. This makes Ray a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Ray?
20% Down Payment
$39,471
on $197,357
Monthly P&I
$1,029/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,307/mo
incl. taxes & insurance
Income Needed
$52,280
gross annual (30% rule)
10% Down Option
$19,736
+ PMI applies
Loan Amount (20% dn)
$157,886
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 Ray, OH?
The median home value in Ray is $197,357 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 8.3% year-over-year.
How much have home prices changed in Ray?
Over the past year, home values in Ray have increased by 8.3%. Over five years, prices have risen approximately 28.8%.
How much do I need to earn to buy a home in Ray?
To comfortably afford the median home price of $197,357 with a 20% down payment ($39,471) at today's rates (6.8%), you'd need a gross annual income of approximately $52,280. This assumes keeping total housing costs at or below 30% of gross income.
How does Ray compare to the national average home price?
The national median home value is approximately $410,000. At $197,357, homes in Ray are 52% below the national average.
What metro area is Ray part of?
Ray is part of the Jackson, OH metropolitan area. Home prices and market conditions can vary across the broader metro region.