University Heights appreciation rates and housing market information

University Heights housing market information

With a population of 14,146, 5,350 total housing units (homes and apartments), and a median house value of $186,196, University Heights real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in University Heights, accounting for 74.88% of the city's housing units. Other types of housing that are prevalent in University Heights include large apartment complexes or high rise apartments (14.60%), duplexes, homes converted to apartments, or other small apartment buildings (9.53%), and a few row houses and other attached homes (0.99%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in University Heights. Owner-occupied housing accounts for 72.56% of University Heights's homes, and 72.37% 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. University Heights's housing was primarily built during this period, from the '40s through the '60s. A full 69.08% of the city's housing hails from this era. Other housing ages represented in University Heights include homes built between 1939 and earlier (24.19%), and housing constructed from 1970-1994 (6.28%). There's also some housing in University Heights built between 1995 and later (.45%).

University Heights home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in University Heights, where house values have increased just 20.81%, which is an average annual increase of 2.08%. NeighborhoodScout's data show that in the latest quarter, University Heights house values appreciated 2.30%, which is an annualized rate of 9.20%. This rate is lower than the appreciation rate found in 10% of the cities and towns in America.

Over the last year, University Heights appreciation rates have trailed the rest of the nation. In the last twelve months, University Heights's appreciation rate has been -1.56%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in University Heights were at 2.30%, which equates to an annual appreciation rate of 9.20%.

Importantly, this makes University Heights 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 University Heights's latest annual appreciation rate is higher than 10% of the other cities and towns in Ohio.