Terrace Park, OH

This village of 2,388 residents needs 8 more housing units over the next five years. Terrace Park is part of the Ohio-Kentucky-Indiana Regional Council of Governments.

Housing snapshot

Population
2,388 (2026)
Households
745
Median household income
$218,685 (2026)
Typical home value
$784,775
Owner-occupied
94%
Five-year housing need
8 units

Comparison to other Ohio municipalities

Terrace Park: $218,685 Median income (2026 estimate)
<$23K >$150K
Terrace Park: 0.28 jobs to household ratio
<0.04 >2.71
Terrace Park: No permit data
<0% >6%
On this page

How affordable is this community?

The typical home in Terrace Park, OH is valued at $784,775, well above the Ohio average of $229,557. With a median household income of $218,685 in Terrace Park, OH, housing costs are a modest stretch for the typical household.

This chart tracks whether housing prices are keeping pace with local incomes. The gap between what homes cost and what households can afford reveals affordability trends over time.

How is the population changing?

Terrace Park, OH has a population of roughly 2,295 that has been largely stable in recent years.

Population growth patterns reveal how communities are evolving. This chart shows historical population changes by age group and projects future trends based on demographic patterns.

How has employment changed over time?

Jobs by industry sector since 2012. Switch between local jobs — counted where the jobs are located — and resident jobs, counted where the workers live. On the local view the most recent year is a nowcast: it grows the latest local LODES job mix forward using recent county employment growth from QCEW and the BLS local employment series, so the newest point tracks today's economy instead of data that is roughly two years old.

How are households changing by income?

Terrace Park, OH has roughly 745 households and a population that has been largely stable in recent years.

Understanding how households at different income levels are growing or declining helps identify which groups face the greatest housing pressure and where new housing is most needed.

Who lives here today?

The housing stock in Terrace Park, OH is heavily oriented toward detached single-family, which makes up 99% of units. Terrace Park, OH is a strongly owner-occupied community, with 94% of households owning their home.

Households may have different structure type preferences depending on characteristics such as household size, income, employment, presence of children, age of individuals, and lifestyle choices. Understanding the housing stock in corresponding terms helps assess how well existing units align with existing households' ideals.

What does the housing stock look like?

The mix of housing types and ownership patterns shapes a community's character. This chart breaks down housing units by structure type and whether they're owner-occupied or rented.

How much new housing supply is needed?

To keep up with growth and fill current housing shortages, Terrace Park, OH needs 8 new units over the next 5 years.

8
Units to address shortages in existing housing stock
Production needs to address vacancy rates and other factors.
8
Replacement housing
Effective annual loss rate is 2.1 per 1,000 units.
8
Total 5-year housing production need (2026-2031)
2
Annual production pace
Average units needed per year to meet 5-year need
1.0%
Total housing unit growth
Percent increase in housing stock over 5 years
0.2%
Annual housing unit growth
Average percent increase in housing stock per year

How does this place compare to similar communities?