Bedford Heights, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Bedford Heights Neighborhoods Since 2000




Bedford Heights, 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

Bedford Heights Housing Market Information

With 10,625 people, 4,987 houses or apartments, and a median cost of homes of $117,688, house prices in Bedford Heights are solidly below the national average.

Single-family detached homes are the single most common housing type in Bedford Heights, accounting for 47.06% of the city's housing units. Other types of housing that are prevalent in Bedford Heights include large apartment complexes or high rise apartments ( 43.34%), mobile homes or trailers ( 6.26%), and a few row houses and other attached homes ( 2.34%).

People in Bedford Heights primarily live in small (one, two or no bedroom) single-family detached homes. Bedford Heights has a mixture of owner-occupied and renter-occupied housing.

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. Bedford Heights's housing was primarily built during this period, from the '40s through the '60s. A full 60.31% of the city's housing hails from this era. Other housing ages represented in Bedford Heights include homes built between 1970-1999 ( 29.83%) and housing constructed between 2000 and later ( 8.29%). There's also some housing in Bedford Heights built before 1939 ( 1.57%).

Vacant housing appears to be an issue in Bedford Heights. Fully 13.72% of the housing stock is classified as vacant. Left unchecked, vacant Bedford Heights homes and apartments can be a drag on the real estate market, holding Bedford Heights real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Bedford Heights Home Appreciation Rates

Homes have actually lost value in Bedford Heights over the last then years, as home values have seen a decline of 24.56% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Bedford Heights home appreciation rates at -0.21%, which equates to an annual appreciation rate of -0.82%.

Over the last year, Bedford Heights appreciation rates have trailed the rest of the nation. In the last twelve months, Bedford Heights's appreciation rate has been 2.58%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bedford Heights were at -0.21%, which equates to an annual appreciation rate of -0.82%.

Relative to Ohio, our data show that Bedford Heights's latest annual appreciation rate is lower than 50% of the other cities and towns in Ohio.

Average Home Values

 

Median Home Value:
$117,688

Bedford Heights, OH HOME PRICES

Value Range
> $1,091,000 0.3
$818,001 - $1,091,000 0.2
$546,001 - $818,000 0.7
$437,001 - $546,000 0.0
$327,001 - $437,000 0.3
$218,001 - $327,000 2.9
$109,001 - $218,000 42.6
$55,001 - $109,000 36.2
$0 - $55,000 16.8

Low for OH
Low for Nation

Value Relative to Nation Value Relative to State
66.8522207898746 66.010498687664

Number Of Homes And Apartments:
4,987

Bedford Heights 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
-18.61% -1.19% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$859 / per month

Homeownership Rate

Homeownership
Owners 49.43
Renters 50.57
Vacant 13.72

Housing Market Details

 

Age of Homes

AGE OF Bedford Heights HOMES
2000 or Newer 8.3
1970 - 1999 29.8
1940 - 1969 60.3
1939 or Older 1.6

Types of Homes

TYPE OF Bedford Heights HOMES
Single-Family 47.1
Townhomes 2.3
Small Apt. Buildings 0.6
Apt. Complexes 43.3
Mobile Homes 6.3
Other 0.4

Home Size

SIZE OF Bedford Heights HOMES
No Bedroom 2.04
1 Bedroom 19.03
2 Bedrooms 30.26
3 Bedrooms 39.55
4 Bedrooms 8.20
5 or more bedrooms 0.92