Mentor, Ohio Housing Market

What stands out in Mentor?

• 77 homes are under contract for every 100 still for sale: among the most homes under contract per listing of 584 tracked cities. Demand is strong. Expect competition on good homes.
• 18% of occupied homes are rented: among the lowest renter shares of 765 tracked cities. Most residents own, so the tenant pool is thin. Your exit buyer may be an owner-occupant.
• Homes for sale are up 38% on last year: among the fastest inventory growth of 765 tracked cities. Supply is building fast, which shifts leverage to buyers.

Why is Mentor still competitive?

Mentor has 33% fewer homes for sale than in 2017–2019 at this time of year, and listings spend a median 39 days on the market, less than in 90% of the 765 cities we track. For every 100 homes still for sale, 77 are under contract. Well-priced homes will draw more than one offer. Your discount is in the listing that has sat, so set a price alert and move when a stale one gets cut.

How much can you negotiate in Mentor?

For every 100 homes still for sale, 77 are under contract. In 2017–2019 at this time of year it was 70. The rest are still waiting for a buyer. About 1 in 4 sellers has already dropped their price. Each one has learned their first price was too high. Start your offer below their new price.

Mentor listings spend a median 39 days on the market. That is 11% longer than a year ago. There are 127 homes for sale in Mentor. That is 4.5 times the tightest month on record, but below the peak of 237. Supply is growing against last year.

What to do about it

• Get your financing approved before you look.
• Decide your maximum price before you bid.
• Bid the day a good home lists, or hunt the few that have sat 60+ days.
• Walk away when the price passes your number. Another buyer will overpay. Let them.

When do Mentor prices dip?

Across 9 full years, Mentor asking prices ran lowest in January, about 8.2% below the year's average. They peaked in June. The most homes for sale show up in September, about 16% above the yearly average. Shop in September for choice, and expect the softest asking prices in January.

Who will rent from you in Mentor?

Only 18 out of every 100 Mentor households rent. This is an owners' town. That share has held steady for five years. Renter households average 1.9 people. Singles and couples rent here. Two bedrooms beat four.

Households grew 5% in five years. The housing stock grew 4%. The two are moving in step. Just 4.1% of homes sit empty. A well-priced rental fills fast here.

The median Mentor household earns $87,599 a year. Incomes here have grown 3.9% a year since 2019. Incomes and home prices are rising in step. A typical home costs 3.4 times the median income. Locals can afford to buy here. Your exit buyer can be a local family. At 30% of income, a tenant on the median income can pay about $2,190 a month.

To see what one Mentor address would rent for and cash flow, run it through the app.

How does Mentor compare with other Ohio markets?

Ranked among the 21 Ohio markets we track:

• Asking price: 5th priciest of 21. Mentor is at $297,400. Closest: Cincinnati and Lancaster.
• Buyer competition: 2nd most competitive of 19. Mentor is at 0.77 buyers per home. Closest: Grove City and Newark.
• Time on market: 5th shortest time on market of 21. Mentor is at a median of 39 days on market. Closest: Westerville and Hamilton.
• Price cuts: 9th most price cuts of 21. Mentor is at 25% of sellers cutting. Closest: Lancaster and Newark.

What numbers should you underwrite a Mentor deal with?

• Price growth to assume — +4.6%/yr. Mentor has grown about 4.6% a year for five years and for ten. That pace held before and after the 2020–2021 boom, so it is a fair long-run input. Prices fell 3.7% over the last year. Use it for timing. The five-year rate is the better guide.
• Odds you cut your price to sell — 1 in 4. 25% of Mentor listings have cut their asking price. Underwrite your exit below asking.
• Competition when you exit — +38%. Homes for sale in Mentor are up 38% on last year, so your resale faces more competition than today's comps did.

Read how the pending ratio measures demand and how we read these numbers, then run the numbers on a deal.

What is the median home price in Mentor?

The median asking price in Mentor is about $297,000 as of Sep 2026, down 7.5% from a year ago. This is the asking price on homes listed for sale. Sites that report sold prices or estimated home values will show a different number. Our Mentor figures cover the 2 ZIP codes with a Mentor mailing address, which can reach past city limits.

Is Mentor a buyer's or seller's market in 2026?

Sellers have more pull in Mentor than usual. We compare Mentor with 2017–2019 at this time of year: there are 33% fewer homes for sale; listings spend 26% fewer days on the market; 25% of sellers have cut their price, against 29% then.

Are Mentor home prices going up or down?

The median asking price is 17.4% below its Jun 2026 peak. Per square foot the gap is smaller: 8.3% below the Apr 2026 high. Part of the drop is smaller homes coming to market. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower.

What is the fair market rent in Mentor?

HUD's fiscal year 2026 fair market rent for Lake County is $1,279 a month for 2 bedrooms and $1,646 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.