Avon Lake, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Avon Lake, OH Real Estate Data


Avon Lake Housing Market Information

With a population of 23,453, 9,000 total housing units (homes and apartments), and a median house value of $256,664, Avon Lake real estate is some of the most expensive in Ohio, although Avon Lake home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Avon Lake, accounting for 74.03% of the city's housing units. Other types of housing that are prevalent in Avon Lake include large apartment complexes or high rise apartments ( 15.45%), row houses and other attached homes ( 9.00%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.38%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Avon Lake. Owner-occupied housing accounts for 79.73% of Avon Lake's homes, and 68.38% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Avon Lake built from 1970 to 1999 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 Avon Lake built between 1940-1969 ( 28.56%). A lesser amount of the housing stock also hails from between 2000 and later ( 26.13%). There's also some housing in Avon Lake built before 1939 ( 3.78%).

Avon Lake Home Appreciation Rates

Appreciation rates for homes in Avon Lake have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.60%, which ranks in the top 50% nationwide. This equates to an annual average Avon Lake house appreciation rate of 0.55%.

Appreciation rates are so strong in Avon Lake that despite a nationwide downturn in the housing market, Avon Lake real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Avon Lake appreciation rates continue to be some of the highest in America, at 6.34%, which is higher than appreciation rates in 78.36% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Avon Lake. Avon Lake appreciation rates in the latest quarter were at 3.30%, which equates to an annual appreciation rate of 13.87%.

Importantly, this makes Avon Lake 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 Avon Lake's latest annual appreciation rate is higher than 80% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$256,664

Avon Lake, OH HOME PRICES

Value Range
> $1,194,000 1.3
$896,001 - $1,194,000 1.4
$597,001 - $896,000 2.8
$478,001 - $597,000 5.1
$359,001 - $478,000 13.7
$239,001 - $359,000 27.2
$119,001 - $239,000 39.5
$60,001 - $119,000 6.2
$0 - $60,000 2.6

Very High for OH
High for Nation

Value Relative to Nation Value Relative to State
22.0354863266382 7.61154855643045

Number Of Homes And Apartments:
9,000

Rent & Ownership

 

Average Market Rent:
$1,734 / per month

Homeownership Rate

Homeownership
Owners 79.73
Renters 20.27
Vacant 6.13

Housing Market Details

 

Age of Homes

AGE OF Avon Lake HOMES
2000 or Newer 26.1
1970 - 1999 41.5
1940 - 1969 28.6
1939 or Older 3.8

Types of Homes

TYPE OF Avon Lake HOMES
Single-Family 74.0
Townhomes 9.0
Small Apt. Buildings 1.4
Apt. Complexes 15.4
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Avon Lake HOMES
No Bedroom 0.93
1 Bedroom 6.51
2 Bedrooms 20.62
3 Bedrooms 36.96
4 Bedrooms 31.41
5 or more bedrooms 3.57

Avon Lake Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
19.46% 1.05% 7 2
* 10 is highest