The typical owner-occupied home in Chagrin Falls is worth about $440,700, 2.1 times the Ohio median of $214,800 and 32% above the national median of $332,700. Owners pay a median $8,709 a year in property taxes, about 1.98% of their home's value, higher than the Ohio rate of 1.31%. The median household earns $99,672 a year, so the median home costs 4.4 times the median income (3.0 times for Ohio). 79% of occupied homes here are lived in by their owners, and 68% of those owners still have a mortgage.
Chagrin Falls at a glance
| Chagrin Falls | Ohio | U.S. | |
|---|---|---|---|
| Median home value | $440,700 | $214,800 | $332,700 |
| Median property tax paid per year | $8,709 | $2,822 | $3,119 |
| Property tax as a share of value | 1.98% | 1.31% | 0.94% |
| Median household income | $99,672 | $71,389 | $80,734 |
| Homes lived in by their owners | 79% | 67% | 65% |
| Owner homes with a mortgage | 68% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $2,596 | $1,517 | $1,963 |
| Those costs as a share of the owners' income | 21.3% | 18.6% | 21.0% |
| Median rent | $1,140 | $1,034 | $1,413 |
| Rent as a share of renters' income | 32.1% | 28.3% | 30.6% |
| Median year homes were built | 1952 | 1970 | 1980 |
| Vacant homes | 7.3% | 8.1% | 10.1% |
| Population | 4,201 | 11,810,293 | 334,922,499 |
What a typical home costs per month in Chagrin Falls
At this week's average 30-year rate of 7.11%, buying the median Chagrin Falls home of $440,700 with 20% down costs about $3,282 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,017, 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 $140,677 for the 20%-down payment. That payment is 40% of the median Chagrin Falls household income of $99,672; at that income and 20% down, the 28% guideline points to a home of about $312,000.
The median rent here is $1,140 a month, so owning the median home costs about $2,142 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $88,140 |
|---|---|
| Loan amount | $352,560 |
| Principal and interest | $2,372 |
| Property taxes (1.98% a year) | $727 |
| Homeowners insurance (our estimate, 0.5% a year) | $184 |
| PMI | $0 |
| Total per month | $3,282 |
Change the numbers in the calculator
| Down payment | $15,424 |
|---|---|
| Loan amount | $432,718 |
| Principal and interest | $2,911 |
| Property taxes (1.98% a year) | $727 |
| Homeowners insurance (our estimate, 0.5% a year) | $184 |
| FHA mortgage insurance | $195 |
| Total per month | $4,017 |
Change the numbers in the calculator
Questions about home buying in Chagrin Falls
What is the median home value in Chagrin Falls?
About $440,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Chagrin Falls?
Homeowners pay a median $8,709 a year, which is about 1.98% 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 Chagrin Falls?
For the median home with 20% down at 7.11%, the payment is about $3,282 a month. Keeping that under 28% of gross income takes about $140,677 a year.
More about Chagrin Falls
- Mortgage Refinance in Chagrin Falls
- Debt Relief in Chagrin Falls
- Home Equity Loans in Chagrin Falls
- 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