Avon Lake, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Avon Lake, 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

Avon Lake Housing Market Information

With a population of 23,453, 8,962 total housing units (homes and apartments), and a median house value of $227,746, 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 73.39% of the city's housing units. Other types of housing that are prevalent in Avon Lake include large apartment complexes or high rise apartments ( 15.31%), row houses and other attached homes ( 9.51%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.79%).

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 79.42% of Avon Lake's homes, and 66.49% 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 2000 and later ( 28.83%). A lesser amount of the housing stock also hails from between 1940-1969 ( 26.89%). There's also some housing in Avon Lake built before 1939 ( 3.34%).

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 1.38%, which ranks in the top 50% nationwide. This equates to an annual average Avon Lake house appreciation rate of 0.14%.

Over the last year, Avon Lake appreciation rates have trailed the rest of the nation. In the last twelve months, Avon Lake's appreciation rate has been 1.14%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Avon Lake were at -0.21%, which equates to an annual appreciation rate of -0.82%.

Relative to Ohio, our data show that Avon Lake's latest annual appreciation rate is lower than 70% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$227,746

Avon Lake, OH HOME PRICES

Value Range
> $1,112,000 1.0
$834,001 - $1,112,000 0.8
$556,001 - $834,000 2.9
$445,001 - $556,000 5.6
$333,001 - $445,000 14.3
$222,001 - $333,000 29.4
$111,001 - $222,000 36.4
$55,001 - $111,000 7.5
$0 - $55,000 2.2

Very High for OH
High for Nation

Value Relative to Nation Value Relative to State
26.2041485995547 9.71128608923885

Number Of Homes And Apartments:
8,962

Avon Lake 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
13.29% 0.73% 6 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,340 / per month

Homeownership Rate

Homeownership
Owners 79.42
Renters 20.58
Vacant 6.33

Housing Market Details

 

Age of Homes

AGE OF Avon Lake HOMES
2000 or Newer 28.8
1970 - 1999 40.9
1940 - 1969 26.9
1939 or Older 3.3

Types of Homes

TYPE OF Avon Lake HOMES
Single-Family 73.4
Townhomes 9.5
Small Apt. Buildings 1.8
Apt. Complexes 15.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Avon Lake HOMES
No Bedroom 0.91
1 Bedroom 6.24
2 Bedrooms 21.61
3 Bedrooms 34.87
4 Bedrooms 31.63
5 or more bedrooms 4.74