Youngstown appreciation rates and housing market information

Youngstown housing market information

With 82,026 people, 37,158 houses or apartments, and a median cost of homes of $57,065, house prices in Youngstown 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 Youngstown, accounting for 75.95% of the city's housing units. Other types of housing that are prevalent in Youngstown include large apartment complexes or high rise apartments (11.41%), duplexes, homes converted to apartments, or other small apartment buildings (10.43%), and a few row houses and other attached homes (1.96%).

The most prevalent building size and type in Youngstown are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 55.44% owning, and 31.16% renting.

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. Youngstown's housing was primarily built during this period, from the '40s through the '60s. A full 54.33% of the city's housing hails from this era. Other housing ages represented in Youngstown include homes built between 1939 and earlier (36.21%), and housing constructed from 1970-1994 (8.44%). There's also some housing in Youngstown built between 1995 and later (1.02%).

Vacant housing appears to be an issue in Youngstown. Fully 13.40% of the housing stock is classified as vacant. Left unchecked, vacant Youngstown homes and apartments can be a drag on the real estate market, holding Youngstown real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Youngstown home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Youngstown, where house values have increased just 2.15%, which is an average annual increase of 0.21%. NeighborhoodScout's data show that in the latest quarter, Youngstown house values appreciated 0.74%, which is an annualized rate of 2.96%. This rate is lower than the appreciation rate found in 40% of the cities and towns in America.

Over the last year, Youngstown appreciation rates have trailed the rest of the nation. In the last twelve months, Youngstown's appreciation rate has been -2.69%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Youngstown were at 0.74%, which equates to an annual appreciation rate of 2.96%.

Relative to Ohio, our data show that Youngstown's latest annual appreciation rate is higher than 4% 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 Youngstown differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Youngstown - 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 Youngstown real estate investment or home purchase decisions.