North Olmsted appreciation rates and housing market information
North Olmsted housing market information
With a population of 32,718, 13,645 total housing units (homes and apartments), and a median house value of $137,178, North Olmsted real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in North Olmsted, accounting for 69.05% of the city's housing units. Other types of housing that are prevalent in North Olmsted include large apartment complexes or high rise apartments (22.42%), row houses and other attached homes (6.67%), and a few duplexes, homes converted to apartments or other small apartment buildings (1.86%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in North Olmsted. Owner-occupied housing accounts for 80.87% of North Olmsted's homes, and 63.64% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. North Olmsted's housing was primarily built during this period, from the '40s through the '60s. A full 56.55% of the city's housing hails from this era. Other housing ages represented in North Olmsted include homes built between 1970-1999 (36.19%) and housing constructed before 1939 (4.80%). There's also some housing in North Olmsted built between 2000 and later (2.47%).
North Olmsted home appreciation rates
Homes have actually lost value in North Olmsted over the last then years, as home values have seen a decline of 14.32% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows North Olmsted home appreciation rates at -0.38%, which equates to an annual appreciation rate of -1.53%.
Over the last year, North Olmsted appreciation rates have trailed the rest of the nation. In the last twelve months, North Olmsted's appreciation rate has been 0.71%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in North Olmsted were at -0.38%, which equates to an annual appreciation rate of -1.53%.
Relative to Ohio, our data show that North Olmsted's latest annual appreciation rate is higher than 60% 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 North Olmsted differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in North Olmsted - 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 North Olmsted real estate investment or home purchase decisions.