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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 15,880 people, 6,086 houses or apartments, and a median cost of homes of $441,295, 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 94.66% of the city's housing units. Other types of housing that are prevalent in Bay Village include large apartment complexes or high rise apartments ( 3.65%), row houses and other attached homes ( 1.54%).
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 90.88% of Bay Village's homes, and 77.57% 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 59.26% of the city's housing hails from this era. Other housing ages represented in Bay Village include homes built between 1970-1999 ( 24.00%) and housing constructed before 1939 ( 11.41%). There's also some housing in Bay Village built between 2000 and later ( 5.32%).
Real estate appreciation rates in Bay Village's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.06% during the period.
NeighborhoodScout's data show that during the latest twelve months, Bay Village's appreciation rate, at 5.03%, has been at or slightly above the national average. In the latest quarter, Bay Village's appreciation rate has been -0.78%, which annualizes to a rate of -3.07%.
Notably, Bay Village's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Ohio, our data show that Bay Village's latest annual appreciation rate is lower than 80% of the other cities and towns in Ohio.
$441,295
for Ohio
for nation
6,086
$2,187 / per month