Bay Village, 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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Bay Village Housing Market Information

With a population of 15,194, 6,078 total housing units (homes and apartments), and a median house value of $329,610, Bay Village real estate is some of the most expensive in Ohio, although Bay Village home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Bay Village, accounting for 94.52% of the city's housing units. Other types of housing that are prevalent in Bay Village include large apartment complexes or high rise apartments ( 2.34%), row houses and other attached homes ( 2.20%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bay Village. Owner-occupied housing accounts for 91.05% of Bay Village's homes, and 80.07% 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. Bay Village's housing was primarily built during this period, from the '40s through the '60s. A full 64.55% of the city's housing hails from this era. Other housing ages represented in Bay Village include homes built between 1970-1999 ( 21.08%) and housing constructed before 1939 ( 10.96%). There's also some housing in Bay Village built between 2000 and later ( 3.40%).

Bay Village Home Appreciation Rates

Appreciation rates for homes in Bay Village have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 39.34%, which ranks in the top 40% nationwide. This equates to an annual average Bay Village house appreciation rate of 3.37%.

Appreciation rates are so strong in Bay Village that despite a nationwide downturn in the housing market, Bay Village real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bay Village appreciation rates continue to be some of the highest in America, at 5.63%, which is higher than appreciation rates in 82.55% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bay Village. Bay Village appreciation rates in the latest quarter were at 2.02%, which equates to an annual appreciation rate of 8.34%.

Importantly, this makes Bay Village 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 Bay Village's latest annual appreciation rate is higher than 90% of the other cities and towns in Ohio.

Average Home Values

 
info

Median Home Value:
$329,610

Bay Village, OH HOME PRICES

> $1,215,000
1.5%
1.5%
$911,001 - $1,215,000
2.5%
2.5%
$607,001 - $911,000
4.5%
4.5%
$486,001 - $607,000
4.6%
4.6%
$364,001 - $486,000
17.3%
17.3%
$243,001 - $364,000
29.7%
29.7%
$121,001 - $243,000
36.1%
36.1%
$61,001 - $121,000
1.6%
1.6%
$0 - $61,000
2.2%
2.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for OH

Value Relative To Nation

Number Of Homes And Apartments:
6,078

Bay Village Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
51.48% 2.02%
8
3
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,319 / per month

Homeownership Rate

Owners
91.1%
91.1%
Renters
8.9%
8.9%
Vacant
5.1%
5.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
3.4%
3.4%
1970 - 1999
21.1%
21.1%
1940 - 1969
64.5%
64.5%
1939 or Older
11.0%
11.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
94.5%
94.5%
Townhomes
2.2%
2.2%
Small Apt. Buildings
0.6%
0.6%
Apt. Complexes
2.3%
2.3%
Mobile Homes
0.3%
0.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.0%
1.0%
1 Bedroom
1.7%
1.7%
2 Bedrooms
10.5%
10.5%
3 Bedrooms
46.4%
46.4%
4 Bedrooms
33.6%
33.6%
5 or more bedrooms
6.7%
6.7%
0.0% 100.0%
% OF HOMES