Medina appreciation rates and housing market information

Medina housing market information

With 25,070 people, 9,788 houses or apartments, and a median cost of homes of $187,228, Medina real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Medina, accounting for 60.67% of the city's housing units. Other types of housing that are prevalent in Medina include large apartment complexes or high rise apartments (21.17%), row houses and other attached homes (8.32%), duplexes, homes converted to apartments, or other small apartment buildings (7.70%), and a few mobile homes or trailers (2.15%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Medina. Owner-occupied housing accounts for 64.00% of Medina's homes, and 57.76% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Medina built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Medina built from 1940-1969 (22.20%). A lesser amount of the housing stock also hails from 1995 and later (18.64%), and some were built from 1939 and earlier (18.64%).

Medina home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Medina, where house values have increased just 32.31%, which is an average annual increase of 3.23%. NeighborhoodScout's data show that in the latest quarter, Medina house values appreciated 2.58%, which is an annualized rate of 10.32%. 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, Medina home appreciation rates, at -0.41%, have been at or slightly above the national average. In the latest quarter, Medina's appreciation rate has been 2.58%, which annualizes to a rate of 10.32%.

Importantly, this makes Medina 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 Medina's latest annual appreciation rate is higher than 24% 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 Medina differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Medina - 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 Medina real estate investment or home purchase decisions.