Photo: Doug Kerr · CC BY-SA 2.0Measured against area pay, Wakeman Township costs less to live in than 77% of U.S. towns
It ranks #230 of 993 in Ohio for affordability. Home prices around Wakeman Township have risen about 58% over the past 5 years. Builders were permitted 1 new home in 2025.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Norwalk, OH micro area ($68K). How TownRatings grades cost of living
The grade compares costs with what households across the Norwalk-area micro earn ($68K, Census 2020–24). The typical home costs 3.5 years of area income, and 31% of renters pay 30% or more of income for housing.
In dollars
- $1,150a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
In paychecks the grade
- 3.5 yrsof area income buys the typical home; the typical U.S. town: 3.3$68K, Norwalk-area income
- 14%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 17%of owners do; the typical U.S. town: 20%Census 2020–24
What kind of housing town is Wakeman Township?
Read from the numbers below. The page puts what stands out first.
What’s behind Wakeman Township’s grade
Measured against what households in the area earn, Wakeman Township is more affordable than 77% of U.S. towns, #230 of 993 in Ohio. Home prices pull the grade down most; the share of households paying 30%+ for housing holds it up.
Home prices up 58% in 5 years
The federal house price index for the ZIP code around Wakeman Township rose 58% over the past 5 years, faster than across Ohio (53%). Last year prices rose 12%. Carrying the Census median home value forward with that index puts the typical Wakeman Township home at roughly $308,000 today.
Carrying the Census median forward with the index puts a typical home at about $308K.
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Wakeman Township, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
A year’s rent takes 14% of area income
The calculator starts from the area income the grade uses. Switch to Wakeman Township’s own median, or type yours.
That’s $40K short of a typical Wakeman Township home.
A two-bedroom rents for about $1,150 a month here, $680 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Wakeman Township’s typical property tax (0.81% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,150
Renters already here pay a median of $818, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Cleveland, OH HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
1 new home permitted in 2025
Builders were permitted 1 new home in Wakeman Township in 2025. That's 0.4 per 1,000 residents, slower than across Ohio (3.3). Over the past 10 years, Wakeman Township has permitted 18 homes in all.
Between the 2010 and 2020 censuses, Wakeman Township gained 30 residents while 16 new homes were permitted: about 1.9 new residents per new home, more than across Ohio (1.3): growth outpaced building.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 1 | 1 | 0 | $175,000 |
| 2025 | 1 | 1 | 0 | $225,000 |
| 2024 | 1 | 1 | 0 | $175,000 |
| 2023 | 1 | 1 | 0 | $300,000 |
| 2022 | 1 | 1 | 0 | $138,000 |
| 2021 | 2 | 2 | 0 | $656,000 |
| 2020 | 1 | 1 | 0 | $150,000 |
| 2019 | 6 | 6 | 0 | $1.1 million |
| 2018 | 1 | 1 | 0 | $170,000 |
| 2017 | 1 | 1 | 0 | $77,000 |
| 2016 | 3 | 3 | 0 | $480,000 |
| 2015 | 1 | 1 | 0 | $400,000 |
| 2014 | 1 | 1 | 0 | $150,000 |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 2 | 2 | 0 | $335,000 |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 1 | 1 | 0 | $85,000 |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 3 | 3 | 0 | $750,000 |
| 2007 | 4 | 4 | 0 | $950,000 |
| 2006 | 6 | 6 | 0 | $1.2 million |
| 2005 | 10 | 10 | 0 | $1.8 million |
| 2004 | 12 | 12 | 0 | $1.2 million |
| 2003 | 14 | 14 | 0 | $1.4 million |
| 2002 | 11 | 11 | 0 | $1.1 million |
| 2001 | 8 | 8 | 0 | $657,000 |
| 2000 | 8 | 8 | 0 | $657,000 |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Property tax runs below the Ohio norm
The median bill is $1,910 (Ohio: $2,822), 0.81% of a home’s value a year, against 1.31% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
Wakeman Township vs. its neighbors
Zillow publishes no value for Wakeman Township. Florence Township and Camden Township and Townsend Township and Clarksfield Township have no Zillow value, so they are in the table only.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, latest | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Wakeman Township | A− | — | $235K | 0.81% | $1,150 |
| Clarksfield Township | B− | — | $174K | 1.01% | $1,120 |
| Camden Township | C− | — | $226K | 1.47% | $1,100 |
| Florence Township | B− | — | $277K | 0.86% | $1,180 |
| Townsend Township | B | — | $211K | 0.84% | $1,040 |
“—” under Zillow: Zillow publishes no value for that town, so it’s left blank rather than mixed with Census figures.
Questions about the cost of living in Wakeman Township
Is Wakeman Township expensive to live in?
Measured against what households in the area earn, Wakeman Township costs less than 77% of U.S. towns: an A− for cost of living, #230 of 993 in Ohio. The typical home costs 3.5 years of the median household income of the Norwalk, OH micro area ($68K).
How much is rent in Wakeman Township?
HUD puts a two-bedroom at about $1,150 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $818 (Census 2020–24).
What are property taxes in Wakeman Township?
The median bill is $1,910 a year, 0.81% of the median home value (Ohio: $2,822, 1.31%), from the Census 2020–24.
Neighbors talk housing
What Wakeman Township buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.