North Royalton appreciation rates and housing market information

North Royalton housing market information

With 28,648 people, 11,754 houses or apartments, and a median cost of homes of $229,546, North Royalton real estate is some of the most expensive in Ohio, although North Royalton home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in North Royalton, accounting for 63.53% of the city's housing units. Other types of housing that are prevalent in North Royalton include large apartment complexes or high rise apartments (26.19%), row houses and other attached homes (7.77%), and a few duplexes, homes converted to apartments, or other small apartment buildings (2.52%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in North Royalton. Owner-occupied housing accounts for 71.60% of North Royalton's homes, and 61.56% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in North Royalton 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 North Royalton built from 1940-1969 (25.82%). A lesser amount of the housing stock also hails from 1995 and later (9.76%), and some were built from 1939 and earlier (9.76%).

North Royalton home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in North Royalton, where house values have increased just 29.92%, which is an average annual increase of 2.99%. NeighborhoodScout's data show that in the latest quarter, North Royalton house values appreciated 2.53%, which is an annualized rate of 10.12%. This rate is lower than the appreciation rate found in 10% of the cities and towns in America.

Over the last year, North Royalton appreciation rates have trailed the rest of the nation. In the last twelve months, North Royalton's appreciation rate has been -0.64%, 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 Royalton were at 2.53%, which equates to an annual appreciation rate of 10.12%.

Importantly, this makes North Royalton 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 North Royalton's latest annual appreciation rate is higher than 21% 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 Royalton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in North Royalton - 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 Royalton real estate investment or home purchase decisions.