Bay Village, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Bay Village Neighborhoods Since 2000




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 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

Bay Village Housing Market Information

With 15,402 people, 6,016 houses or apartments, and a median cost of homes of $273,551, 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 93.68% of the city's housing units. Other types of housing that are prevalent in Bay Village include large apartment complexes or high rise apartments ( 3.26%), row houses and other attached homes ( 2.19%).

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 90.97% of Bay Village's homes, and 80.90% 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 64.72% of the city's housing hails from this era. Other housing ages represented in Bay Village include homes built between 1970-1999 ( 21.27%) and housing constructed before 1939 ( 11.01%). There's also some housing in Bay Village built between 2000 and later ( 2.99%).

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 9.15%, which ranks in the top 30% nationwide. This equates to an annual average Bay Village house appreciation rate of 0.88%.

NeighborhoodScout's data show that during the latest twelve months, Bay Village's appreciation rate, at 4.54%, has been at or slightly above the national average. In the latest quarter, Bay Village's appreciation rate has been -0.21%, which annualizes to a rate of -0.82%.

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

Average Home Values

 

Median Home Value:
$273,551

Bay Village, OH HOME PRICES

Value Range
> $1,134,000 1.4
$850,001 - $1,134,000 1.6
$567,001 - $850,000 2.6
$454,001 - $567,000 4.7
$340,001 - $454,000 9.6
$227,001 - $340,000 34.1
$113,001 - $227,000 42.2
$57,001 - $113,000 2.1
$0 - $57,000 1.8

Very High for OH
Very High for Nation

Value Relative to Nation Value Relative to State
19.2693073948201 6.16797900262467

Number Of Homes And Apartments:
6,016

Bay Village 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
25.20% 1.31% 9 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,339 / per month

Homeownership Rate

Homeownership
Owners 90.97
Renters 9.03
Vacant 4.70

Housing Market Details

 

Age of Homes

AGE OF Bay Village HOMES
2000 or Newer 3.0
1970 - 1999 21.3
1940 - 1969 64.7
1939 or Older 11.0

Types of Homes

TYPE OF Bay Village HOMES
Single-Family 93.7
Townhomes 2.2
Small Apt. Buildings 0.1
Apt. Complexes 3.3
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Bay Village HOMES
No Bedroom 1.00
1 Bedroom 2.50
2 Bedrooms 10.03
3 Bedrooms 44.54
4 Bedrooms 36.35
5 or more bedrooms 5.58