The typical owner-occupied home in Beachwood is worth about $410,300, 91% above the Ohio median of $214,800 and 23% above the national median of $332,700. Owners pay a median $7,022 a year in property taxes, about 1.71% of their home's value, higher than the Ohio rate of 1.31%. The median household earns $106,748 a year, so the median home costs 3.8 times the median income (3.0 times for Ohio). 54% of occupied homes here are lived in by their owners, and 61% of those owners still have a mortgage.
Beachwood at a glance
| Beachwood | Ohio | U.S. | |
|---|---|---|---|
| Median home value | $410,300 | $214,800 | $332,700 |
| Median property tax paid per year | $7,022 | $2,822 | $3,119 |
| Property tax as a share of value | 1.71% | 1.31% | 0.94% |
| Median household income | $106,748 | $71,389 | $80,734 |
| Homes lived in by their owners | 54% | 67% | 65% |
| Owner homes with a mortgage | 61% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $2,604 | $1,517 | $1,963 |
| Those costs as a share of the owners' income | 18.1% | 18.6% | 21.0% |
| Median rent | $2,047 | $1,034 | $1,413 |
| Rent as a share of renters' income | 28.8% | 28.3% | 30.6% |
| Median year homes were built | 1975 | 1970 | 1980 |
| Vacant homes | 9.9% | 8.1% | 10.1% |
| Population | 13,865 | 11,810,293 | 334,922,499 |
What a typical home costs per month in Beachwood
At this week's average 30-year rate of 7.11%, buying the median Beachwood home of $410,300 with 20% down costs about $2,964 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,647, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $127,017 for the 20%-down payment. That payment is 33% of the median Beachwood household income of $106,748; at that income and 20% down, the 28% guideline points to a home of about $345,000.
The median rent here is $2,047 a month, so owning the median home costs about $917 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $82,060 |
|---|---|
| Loan amount | $328,240 |
| Principal and interest | $2,208 |
| Property taxes (1.71% a year) | $585 |
| Homeowners insurance (our estimate, 0.5% a year) | $171 |
| PMI | $0 |
| Total per month | $2,964 |
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| Down payment | $14,360 |
|---|---|
| Loan amount | $402,868 |
| Principal and interest | $2,710 |
| Property taxes (1.71% a year) | $585 |
| Homeowners insurance (our estimate, 0.5% a year) | $171 |
| FHA mortgage insurance | $181 |
| Total per month | $3,647 |
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Questions about home buying in Beachwood
What is the median home value in Beachwood?
About $410,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Beachwood?
Homeowners pay a median $7,022 a year, which is about 1.71% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Beachwood?
For the median home with 20% down at 7.11%, the payment is about $2,964 a month. Keeping that under 28% of gross income takes about $127,017 a year.
More about Beachwood
- Mortgage Refinance in Beachwood
- Debt Relief in Beachwood
- Home Equity Loans in Beachwood
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data