Amherst, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Amherst, OH Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Amherst Housing Market Information

With a population of 12,135, 4,733 total housing units (homes and apartments), and a median house value of $178,049, Amherst real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Amherst, accounting for 85.90% of the city's housing units. Other types of housing that are prevalent in Amherst include row houses and other attached homes ( 6.56%), large apartment complexes or high rise apartments ( 3.28%), and a few mobile homes or trailers ( 2.88%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Amherst. Owner-occupied housing accounts for 82.28% of Amherst's homes, and 74.72% 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. Amherst's housing was primarily built during this period, from the '40s through the '60s. A full 40.58% of the city's housing hails from this era. Other housing ages represented in Amherst include homes built between 1970-1999 ( 32.33%) and housing constructed before 1939 ( 16.07%). There's also some housing in Amherst built between 2000 and later ( 11.02%).

Amherst Home Appreciation Rates

Amherst's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Amherst during the period has been just -1.82%, which is lower than 80% of US communities.

Over the last year, Amherst appreciation rates have trailed the rest of the nation. In the last twelve months, Amherst's appreciation rate has been 0.76%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Amherst were at -0.21%, which equates to an annual appreciation rate of -0.82%.

Relative to Ohio, our data show that Amherst's latest annual appreciation rate is lower than 70% 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 Amherst differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Amherst - 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 2000, to assist you in making the best Amherst real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$178,049

Amherst, OH HOME PRICES

Value Range
> $1,052,000 1.0
$789,001 - $1,052,000 0.0
$526,001 - $789,000 0.7
$421,001 - $526,000 0.7
$316,001 - $421,000 5.5
$210,001 - $316,000 17.2
$105,001 - $210,000 47.8
$53,001 - $105,000 14.5
$0 - $53,000 12.5

High for OH
High for Nation

Value Relative to Nation Value Relative to State
38.8022969647252 22.0472440944882

Number Of Homes And Apartments:
4,733

Amherst Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
-7.76% -0.47% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,046 / per month

Homeownership Rate

Homeownership
Owners 82.28
Renters 17.72
Vacant 4.11

Housing Market Details

 

Age of Homes

AGE OF Amherst HOMES
2000 or Newer 11.0
1970 - 1999 32.3
1940 - 1969 40.6
1939 or Older 16.1

Types of Homes

TYPE OF Amherst HOMES
Single-Family 85.9
Townhomes 6.6
Small Apt. Buildings 1.4
Apt. Complexes 3.3
Mobile Homes 2.9
Other 0.0

Home Size

SIZE OF Amherst HOMES
No Bedroom 0.71
1 Bedroom 3.34
2 Bedrooms 16.15
3 Bedrooms 53.02
4 Bedrooms 21.70
5 or more bedrooms 5.09