Terrace Park, OH
Population 2,282 · Ohio
About Terrace Park, OH
Terrace Park is a small town located in Ohio with a population of 2,282 residents according to the latest US Census Bureau American Community Survey data. The median household income is $206,705 per year, which is 175% above the national median of $75,149. The median age of 38.8 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Terrace Park features a median home value of $581,000, which is 137% above the national median of $244,900. This places Terrace Park in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $3,188, 174% above the national average of $1,163/month. Of the 773 total housing units, 97% are owner-occupied (714 units) and 3% are renter-occupied (25 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Terrace Park shows an unemployment rate of 3.6%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 2.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Terrace Park have an average one-way commute time of 26.6 minutes.
Education & Demographics
85.8% of Terrace Park residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.9% White, 1.3% Hispanic or Latino, 0.0% Black or African American, and 4.5% Asian residents, with 2.4% of the population being foreign-born.
How Terrace Park Ranks in Ohio
Cost of Living in Terrace Park, OH
Compared to national averages, Terrace Park has a median household income of $206,705 (175% above the national median of $75,149). Home values average $581,000, which is 137% above the national median. Monthly rent at $3,188 is 174% above the US average of $1,163. Within Ohio, Terrace Park's income is 188% above the state average of $71,814, and home values are 233% above the state median of $174,449.
Why Live in Terrace Park, OH?
Terrace Park offers a strong local economy with a median household income of $206,705, well above the national average, and a strong job market with an unemployment rate of just 3.6%, and a well-educated community where 85.8% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 2.1%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $581,000. However, Terrace Park’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Terrace Park has a population of 2,282 with a median age of 38.8 years. Compare Terrace Park with other cities to see how it stacks up, or explore all cities in Ohio.
Similar Cities Near Terrace Park
Cities in Ohio with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Crooksville | 2,284 | $45,313 | $94,800 | Compare |
| New Miami | 2,280 | $50,259 | $93,000 | Compare |
| Masury | 2,292 | $38,728 | $75,100 | Compare |
| Richwood | 2,303 | $52,422 | $161,500 | Compare |
| Creston | 2,246 | $62,950 | $155,300 | Compare |
| Jamestown | 2,241 | $59,028 | $142,300 | Compare |
| St. Paris | 2,237 | $56,741 | $143,000 | Compare |
| Byesville | 2,220 | $35,959 | $93,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Ohio
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Terrace Park With Other Cities
Frequently Asked Questions about Terrace Park
What is the population of Terrace Park, OH?
The population of Terrace Park, OH is 2,282 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Ohio.
What is the median household income in Terrace Park?
The median household income in Terrace Park, OH is $206,705 per year, which is 175% above the national median of $75,149.
What is the median home value in Terrace Park?
The median home value in Terrace Park, OH is $581,000, which is 137% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Terrace Park?
The median monthly rent in Terrace Park, OH is $3,188, which is 174% above the national average of $1,163/month.
What is the unemployment rate in Terrace Park?
The unemployment rate in Terrace Park, OH is 3.6%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Terrace Park, OH a good place to live?
Terrace Park offers above-average incomes, a competitive housing market, and a strong job market. With a population of 2,282 and a median age of 38.8, the city appeals to a broad range of residents.
How educated is Terrace Park, OH?
85.8% of residents in Terrace Park aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Terrace Park?
Key cost-of-living indicators for Terrace Park, OH: median home value is $581,000 (137% above national), median rent is $3,188/month, and median household income is $206,705. The home-value-to-income ratio is 2.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Terrace Park?
The poverty rate in Terrace Park, OH is 2.1%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Terrace Park, OH?
Terrace Park's population is 0.9% White, 1.3% Hispanic or Latino, 0.0% Black or African American, 4.5% Asian, and 0.0% two or more races. 2.4% of residents are foreign-born.