Ohio’s housing market is showing signs of strain in more places than you might expect. According to the Zillow Home Value Index, 19 communities across the state are flashing red on key risk indicators. From sudden slowdowns to sharp overvaluation, these towns are displaying the same danger signs that often show up just before a price correction hits. With boom-bust history, unsustainable appreciation, and shifting momentum, many of these markets could be the first to stumble if the tide turns.
19. Obetz – Crash Risk Percentage: 70.25%
- Crash Risk Percentage: 70.25%
- Historical crashes (8%+ drops): 2
- Worst historical crash: 8.2% (2012)
- Total price increase since 2010: 145.0%
- Overextended above long-term average: 64.3%
- Price volatility (annual swings): 6.9%
- Current 2025 price: $272,052
Obetz shows concerning signs despite having the lowest crash risk among these 19 communities. The town has experienced two significant downturns since 2010, including back-to-back crashes in 2011 and 2012 that wiped out nearly $17,000 in home values. While prices have more than doubled since the 2010 baseline, the current $272,052 median sits 64% above the community’s long-term sustainable average.
Obetz – Explosive Growth Raising Red Flags
This Franklin County suburb south of Columbus has seen remarkable appreciation, with home values climbing 145% since 2010. The community experienced particularly aggressive growth between 2016 and 2022, when prices jumped from $125,399 to $244,500. Located just 10 miles from downtown Columbus, Obetz benefits from proximity to major employers and Ohio State University, but this same desirability may have pushed prices beyond sustainable levels.
The town’s modest size and limited housing inventory create conditions ripe for volatile price swings. Recent growth has slowed dramatically, with 2025 showing just 1.83% appreciation compared to double-digit gains in previous years. This momentum loss, combined with the community’s history of significant corrections and current overextension, suggests Obetz could face another substantial price adjustment if economic conditions shift.
18. Akron – Crash Risk Percentage: 73.15%
- Crash Risk Percentage: 73.15%
- Historical crashes (8%+ drops): 2
- Worst historical crash: 9.9% (2011)
- Total price increase since 2010: 90.5%
- Overextended above long-term average: 59.8%
- Price volatility (annual swings): 7.7%
- Current 2025 price: $136,237
Akron presents a classic case of a former industrial powerhouse struggling with housing market instability. The city endured brutal crashes in 2011 and 2012, losing nearly 19% of home values during the post-recession period. Despite recovering to current levels around $136,237, the market remains 60% above its long-term sustainable trend, creating vulnerability for another correction.
Akron – Rust Belt Recovery Faces New Threats
Ohio’s fifth-largest city has worked to reinvent itself since the decline of its rubber industry, but housing market volatility remains a persistent challenge. Summit County’s seat experienced devastating losses following the 2008 financial crisis, with median home values plummeting from $71,498 to just $58,384. The city’s economy now relies heavily on healthcare, education, and polymer research, with institutions like the University of Akron and Akron Children’s Hospital providing stability.
Recent price movements show concerning patterns, with 2024 delivering a significant 10.63% jump that appears unsustainable given local economic fundamentals. Akron’s housing market has historically been sensitive to broader economic downturns, and current prices trading nearly 60% above long-term averages suggest the market may be due for another substantial correction. The city’s ongoing population decline and industrial legacy continue to create headwinds for sustained housing appreciation.
17. Valleyview – Crash Risk Percentage: 73.95%
- Crash Risk Percentage: 73.95%
- Historical crashes (8%+ drops): 2
- Worst historical crash: 12.1% (2012)
- Total price increase since 2010: 119.7%
- Overextended above long-term average: 64.6%
- Price volatility (annual swings): 9.2%
- Current 2025 price: $205,922
Valleyview demonstrates the dangers of extreme market volatility in small communities. This Franklin County village suffered devastating losses in the early 2010s, including a catastrophic 12.1% crash in 2012 that represents the worst single-year decline among these 19 towns. The community has since recovered dramatically, with prices more than doubling, but now trades at concerning levels 65% above sustainable trends.
Valleyview – Small Town, Big Price Swings
This tiny Franklin County community of fewer than 1,000 residents sits northwest of Columbus and exemplifies how limited housing inventory can create extreme price volatility. Valleyview’s proximity to major transportation corridors and the Columbus metropolitan area has driven significant appreciation, but the same factors that enable rapid growth also facilitate swift corrections. The village’s small size means individual sales can dramatically impact median prices…