Bucyrus, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bucyrus, 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

Bucyrus Housing Market Information

With a population of 11,916, 5,372 total housing units (homes and apartments), and a median house value of $80,463, house prices in Bucyrus are some of the most affordable in Ohio as well as the nation.

Single-family detached homes are the single most common housing type in Bucyrus, accounting for 70.19% of the city's housing units. Other types of housing that are prevalent in Bucyrus include duplexes, homes converted to apartments or other small apartment buildings ( 13.85%), large apartment complexes or high rise apartments ( 9.77%), and a few mobile homes or trailers ( 4.05%).

The most prevalent building size and type in Bucyrus are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.82% owning and 42.18% renting.

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. Bucyrus's housing was primarily built during this period, from the '40s through the '60s. A full 36.10% of the city's housing hails from this era. Other housing ages represented in Bucyrus include homes built before 1939 ( 29.60%) and housing constructed between 1970-1999 ( 24.19%). There's also some housing in Bucyrus built between 2000 and later ( 10.11%).

Vacant housing appears to be an issue in Bucyrus. Fully 11.66% of the housing stock is classified as vacant. Left unchecked, vacant Bucyrus homes and apartments can be a drag on the real estate market, holding Bucyrus 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.

Bucyrus Home Appreciation Rates

Homes have actually lost value in Bucyrus over the last then years, as home values have seen a decline of 22.18% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Bucyrus home appreciation rates at -0.60%, which equates to an annual appreciation rate of -2.39%.

Over the last year, Bucyrus appreciation rates have trailed the rest of the nation. In the last twelve months, Bucyrus's appreciation rate has been 0.45%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bucyrus were at -0.60%, which equates to an annual appreciation rate of -2.39%.

Notably, Bucyrus's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Ohio, our data show that Bucyrus's latest annual appreciation rate is lower than 80% of the other cities and towns in Ohio.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Bucyrus differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bucyrus - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Bucyrus real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$80,463

Bucyrus, OH HOME PRICES

Value Range
> $1,008,000 0.0
$756,001 - $1,008,000 0.0
$504,001 - $756,000 0.0
$403,001 - $504,000 0.8
$303,001 - $403,000 0.5
$202,001 - $303,000 2.9
$101,001 - $202,000 25.0
$51,001 - $101,000 50.1
$0 - $51,000 20.7

Very Low for OH
Very Low for Nation

Value Relative to Nation Value Relative to State
90.1968826907301 92.3884514435696

Number Of Homes And Apartments:
5,372

Bucyrus 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
-12.59% -0.78% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$812 / per month

Homeownership Rate

Homeownership
Owners 57.82
Renters 42.18
Vacant 11.66

Housing Market Details

 

Age of Homes

AGE OF Bucyrus HOMES
2000 or Newer 10.1
1970 - 1999 24.2
1940 - 1969 36.1
1939 or Older 29.6

Types of Homes

TYPE OF Bucyrus HOMES
Single-Family 70.2
Townhomes 2.2
Small Apt. Buildings 13.8
Apt. Complexes 9.8
Mobile Homes 4.0
Other 0.0

Home Size

SIZE OF Bucyrus HOMES
No Bedroom 2.01
1 Bedroom 8.37
2 Bedrooms 32.07
3 Bedrooms 47.56
4 Bedrooms 9.00
5 or more bedrooms 1.00