Canton appreciation rates and housing market information

Canton housing market information

With a population of 81,118, 35,477 total housing units (homes and apartments), and a median house value of $91,756, house prices in Canton are some of the most affordable in Ohio as well as the nation.

single-family detached homes are the single most common housing type in Canton, accounting for 67.12% of the city's housing units. Other types of housing that are prevalent in Canton include duplexes, homes converted to apartments, or other small apartment buildings (15.93%), large apartment complexes or high rise apartments (13.89%), and a few row houses and other attached homes (2.84%).

The most prevalent building size and type in Canton are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 54.61% owning, and 37.08% renting.

The housing in Canton was primarily built before 1939 (42.89%), making the housing stock in Canton some of the older overall in America, although there is a range of ages of homes in Canton. The next most important Canton housing age is 1940-1969 (42.81%), followed by 1970-1994 (12.84%). There's also some housing in Canton built between 1995 and later (1.46%).

Canton home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Canton, where house values have increased just 34.49%, which is an average annual increase of 3.44%. NeighborhoodScout's data show that in the latest quarter, Canton house values appreciated 2.57%, which is an annualized rate of 10.28%. This rate is lower than the appreciation rate found in 10% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Canton home appreciation rates, at -0.05%, have been at or slightly above the national average. In the latest quarter, Canton's appreciation rate has been 2.57%, which annualizes to a rate of 10.28%.

Importantly, this makes Canton one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Ohio, our data show that Canton's latest annual appreciation rate is higher than 31% of the other cities and towns in Ohio.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Canton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Canton - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Canton real estate investment or home purchase decisions.